ANALISIS KINERJA KEUANGAN MENGGUNAKAN RISK BASED CAPITAL PADA PT ASURANSI JIWA SINAR MSIG TBK PADA TAHUN 2020-2022

Abstract

Financial Performance Analysis using Risk Based Capital at PT Asuransi Jiwa Sinar Mas MSIG Tbk.

The development of  insurance services has made insurance one of the key pillars of the financial system. Therefore, the government has established financial health requirements through Minister of Finance Decree number 424/KMK.06/2003 on the Financial Health of Insurance Companies and Reinsurance Companies. These health requirements focus on the solvency levels of insurance and reinsurance companies, which are calculated based on the Risk-Based Capital method. This study aims to identify and analyze the performance of PT Asuransi Jiwa Sinarmas MSIG Tbk based on the Risk-Based Capital method from 2020 to 2022.

This study uses a quantitative method with data collection techniques through a literature review to obtain secondary data. The analytical tool used is the Risk-Based Capital method, measured by the solvency ratio (debt to asset ratio). The research is conducted using the balance sheet of PT Asuransi Jiwa Sinar Mas MSIG Tbk, with the required data covering a 5-year period, particularly for the years 2020, 2021, and 2022, obtained from the Indonesia Stock Exchange.

The results of this study show that PT Asuransi Jiwa Sinar Mas MSIG Tbk has a very strong ability to meet its obligations. Based on the balance sheet, the number of customers, investments, and liabilities that the company has managed over the past five years indicate that assets and liabilities change every year. This can be proven by the author using debt to asset ratio and Risk-Based Capital analysis to assess the financial performance of PT Asuransi Jiwa Sinar Mas MSIG Tbk in 2020, 2021, and 2022, which shows excellent results and is well above the minimum solvency level set by the government in Minister of Finance Decree number 424/KMK.06/2003, which is 120%.