- CEO
- Pankaj Oberoi
- Full Time Employees
- 772
- Sector
- Finance
- Industry
- Property/Casualty insurance
- Address
- The City Center Batavia Tower One Jakarta JK Indonesia 10220
- IPO Date
- Dec 22, 2005
- Business
- PT Asuransi Multi Artha Guna Tbk (AMAG.JK) operates as a general insurance provider in Indonesia, offering a comprehensive range of non-life insurance products including motor vehicle coverage under the MAGNA brand that protects against loss or damage to vehicles and equipment; health and personal accident insurance through MAGNA Sehat for healthcare and hospitalization; property insurance via MAGNA Properti covering fire, lightning, explosion, airplane crash, and smoke damage; travel insurance with MAGNA Wisata Overseas for international trips and MAGNA Wisata Domestik for domestic travel encompassing personal accidents, medical expenses, baggage loss, and third-party liability; as well as fire, marine cargo, engineering, heavy equipment, burglary, money, cyber risk, earthquake, oil and gas, cash-in-ATM, comprehensive machinery, cash-in-management, garage keeper liability, and other specialized products; and reinsurance services. The company serves individual and corporate customers through branches, representative offices, brokers, agents, bancassurance partners, and direct marketing across major Indonesian cities such as Jakarta, Bandung, Medan, Surabaya, Makassar, and others, totaling 36 locations nationwide. Founded on November 14, 1980, in Surabaya and headquartered at The City Center Batavia Tower One, 17th Floor, Jl. K.H. Mas Mansyur Kav. 126, Central Jakarta, it functions as a subsidiary of Fairfax Asia Ltd., which acquired an 80% controlling stake in 2016 alongside a long-term bancassurance partnership with PT Bank Pan Indonesia Tbk and the integration of PT Fairfax Insurance Indonesia to comply with single presence policy requirements. Recent developments include an equity buyback program announced in October 2025 valued at IDR 90,150 million; amendments to its Articles of Association via Deed No. 93 dated June 22, 2023; and consistent recognition as a market leader and top performer in general insurance awards from 2022 through 2025, reflecting strong operational performance amid a dividend payout ratio of 65%.