To support the realization of a sound, clean, transparent, and accountable business environment, particularly within the life insurance industry, PertaLife Insurance is committed to actively and consistently implementing the fundamental principles of Good Corporate Governance (GCG) across all operations. The Company remains dedicated to continuously enhancing its GCG practices to ensure sustainable excellence.
In line with this commitment, the implementation of Good Corporate Convernance (GCG) at PertaLife Insurance is continuously being strengthened and refined.
The GCG principles consist of:
- Transparency, openness in decision-making processes and in the disclosure of relevant information regarding the Company, ensuring accessibility for Stakeholders in accordance with insurance laws, regulations, and the standards of sound insurance business practices.
- Accountability, clarity of functions and the effective discharge of responsibility by the Company’s governing bodies to ensure transparent, fair, effective, and efficient performance.
- Responsibility, alignment of the Company’s management with prevailing insurance laws, regulations, ethical values, and sound insurance business practices.
- Independency, a condition in which the Company is managed independently and professionally, free from conflicts of interest and any external influence or pressure that contravenes insurance regulations, ethical values, and sound business practices.
- Fairness, upholding equality, balance, and justice in fulfilling Stakeholders’ rights arising from agreements, prevailing insurance laws, and ethical values, as well as sound insurance business practices.
- The implementation of GCG at PertaLife Insurance is governed by the Company’s Articles of Association and prevailing laws and regulations, including:
a. Law of the Republic of Indonesia No. 40 of 2014 on Insurance;
b. Law of the Republic of Indonesia No. 40 of 2007 on Limited Liability Companies;
c. Financial Services Authority Regulation (POJK) No. 73/POJK.05/2016 on Good Corporate Governance for Insurance Companies.
Furthermore, PertaLife Insurance has established a Board Manual which serves as a Code of Ethics for the Board of Commissioners, the Board of Directors, and their supporting members, along with an Integrity Pact for all employees. The Company also maintains specialized committees tasked with reviewing and updating policies, guidelines, and management procedures to ensure alignment with the latest industry developments. To ensure transparency, GCG implementation reports are published on the Company’s official website for public access. The Company is confident that the consistent and effective application of GCG principles across all business activities will enhance performance in providing sustainable service to the community and in achieving the Company’s vision and mission.
The Corporate Governance structure at PertaLife Insurance comprises the General Meeting of Shareholders (GMS), the Board of Commissioners, and the Board of Directors. The structure is further supported by the Audit Committee and the Risk Monitoring Committee, which serve as supporting members to assist the Board of Commissioners in fulfilling its duties and responsibilities.