Securities Sold Under Agreements to Repurchase

PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011 Figures are Presented in Millions of Rupiah, unless Otherwise Stated - 103 - c. As of December 31, 2012 and 2011 and January 1, 2011December 31, 2010, AJSM, a subsidiary, liability for future policy benefits is recorded by AJSM based on actuarial calculation. The assumptions used in the computation are as follows: For the insurance policies issued since 1994: Mortality Method of Reserve Table Actuarial Interest Computation a. Individual: Death Reinsurance 8 Zilmer TMI 93 + Reinsuran2, 8 Net level premium Endowment CSO 58 5 Net level premium MOD TMI 93 8 Net level premium Reinsurance 9 Net level premium Combined endowment CSO 58 4, 5, 8 Net level premium TMI 93 2,5, 3, 4, 5, 8 Net level premium 8 Zilmer Reinsurance + TMI 2, 4, 8 Net level premium CSO 1980 4, 8, 9 Zilmer 7 Net level premium Reinsurance 5, 7, 8 Net level premium 5, 9 Zilmer MOD CSO 58 8 Net level premium Whole life CSO 58 6 Zilmer TMI 93 4, 5, 7, 8 Net level premium Reinsurance 8, 5 Zilmer 8 Net level premium Combined Whole life CSO 58 5, 6 Net level premium TMI 93 4, 5, 7, 8 Net level premium Reinsurance 5, 9 Zilmer 8 Net level premium b. Group: Death Reinsurance 4, 8 Net level premium Type of Insurance For the insurance policies issued before 1994: Mortality Method of Reserve Table Actuarial Interest Computation Individual: Endowment CSO 58 8 Zilmer Combined Endowment CSO 58 4, 7 Zilmer Whole life CSO 58 6 Zilmer Type of Insurance The above liability for future policy benefits are prospective with linear interpolation. d. The changes in liability for future policy benefits are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Balance at the beginning of the year 7,696,397 2,481,280 3,372,899 Increase decrease in liability for future benefits Note 46 2,262,842 5,215,117 891,619 Increase in liability for future benefits - sharia 49,478 - - Balance at the end of year 10,008,717 7,696,397 2,481,280 PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2012 and 2011 and January 1, 2011December 31, 2010 and For the Years then Ended December 31, 2012 and 2011 Figures are Presented in Millions of Rupiah, unless Otherwise Stated - 104 -

27. Unearned Premiums and Estimated Liability Claims

January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Unearned premiums 1,457,906 1,375,875 1,190,031 Estimated liability claims 512,001 477,025 364,284 Total 1,969,907 1,852,900 1,554,315 a. Unearned Premiums Unearned premiums by type of insurance are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Fire 600,497 610,923 565,841 Health 340,487 228,666 182,471 Motor vehicles 318,069 352,006 278,619 Miscellaneous 114,524 105,740 94,355 Marine cargo 51,647 48,553 50,184 Marine hull 24,430 23,217 13,466 Engineering 5,372 4,336 2,971 Accident 2,411 2,027 1,739 Death 469 407 385 Total 1,457,906 1,375,875 1,190,031 The changes in unearned premiums are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Balance at the beginning of the year 1,375,875 1,190,031 357,697 Increase in unearned premiums Note 42 63,734 115,723 116,724 Increase in reinsurance assets 14,469 69,190 712,872 Increase in unearned premiums tabarru fund 3,828 931 2,738 Balance at the end of year 1,457,906 1,375,875 1,190,031

b. Estimated Liability

Claims The details of estimated claims liability by type of insurance are as follows: January 1, 2011 December 31, December 31, December 31, 2012 2011 2010 Fire 223,511 184,328 151,443 Motor vehicles 104,651 89,695 67,608 Marine hull 63,521 72,490 10,940 Miscellaneous 61,229 46,195 31,892 Health 34,278 45,049 54,352 Death 8,752 8,696 5,012 Marine cargo 8,324 13,748 11,093 Engineering 7,735 16,824 31,944 Total 512,001 477,025 364,284