Unearned Premiums Estimated Claims Liability

PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated

39. Insurance Underwriting Income

2014 2013 Gross premiums 11,915,604 13,885,244 Premi reasuransi 2,301,116 1,951,178 Increase in unearned premiums Note 26 31,697 123,190 Total 9,582,791 11,810,876

40. Interest Income and Profit Sharing

2014 2013 Loans 1,598,144 1,220,272 Consumer finance 339,222 386,224 Short-term investment 494,916 413,828 Time deposits 182,134 260,938 Factoring 216,201 167,634 Finance leases 13,307 19,395 Securities purchased under agreements to resell 6,764 4,542 Mortgage receivables 337 3,804 Others 6,359 1,766 Total 2,857,384 2,478,403

41. Sales

This account represent sales of foreign currencies by SMC, a subsidiary, in 2014 and 2013, and sales of electronic goods by the Company in 2014.

42. Other Income

2014 2013 Dividend income 63,616 39,135 Service center income 46,631 32,304 Operators remuneration for managing insurance operation 39,361 39,464 Interest income - current account 24,454 19,439 Printing insurance policy income 13,286 12,261 Investment management income 8,677 3,671 Income from penalties 3,185 19,921 Surplus underwriting income distribution 2,011 7,371 Others 77,524 57,311 Total 278,745 230,877 Others include service income, gain on sale of investment properties and property and equipment Notes 18 and 19, and other income. - 101 - PT SINAR MAS MULTIARTHA Tbk AND ITS SUBSIDIARIES Notes to Consolidated Financial Statements For the Years Ended December 31, 2014 and 2013 Figures are Presented in Millions of Rupiah,unless Otherwise Stated

43. Insurance Underwriting Expenses

2014 2013 Gross claims 9,342,806 16,155,084 Reinsurance claims 752,680 129,168 Increase in liability for future policy benefits Note 25 649,466 2,117,408 Decrease in segregated fund contract liabilities - unit link 387,470 2,030,844 Commission - net 583,508 454,308 Increase in insurance contract liabilities 4,900 122,624 Increase in estimated claims liabilities Note 26 11,117 32,449 Other underwriting expense 64,790 48,212 Total 9,506,637 12,290,009 44. General and Administrative Expenses 2014 2013 Office appliances 301,532 236,547 Depreciation Notes 18 and 19 218,304 197,704 Marketing and advertising 172,992 120,829 Electricity, water, and telephone 179,719 158,903 Rental 108,512 113,158 Defined-benefit post employment expense Note 47 40,016 32,665 Professional fees 30,182 29,227 Others 58,393 44,799 Total 1,109,650 933,832

45. Interest Expense and Profit Sharing

2014 2013 Saving Time deposits 394,912 257,970 Savings deposits 262,560 215,077 Current account 59,597 50,063 Securities Issued Medium term notes 89,167 101,267 Bonds 54,551 40,347 Loans received 78,786 83,634 Premiums on Government guarantee 31,455 27,640 Deposits and deposits from other banks 15,904 1,793 Others 2,787 1,131 Total 989,719 778,922 46. Other Expenses 2014 2013 Repairs and maintenance 113,517 87,617 Training and education 52,681 46,635 Direct costs of service center 17,851 16,317 Others 32,751 53,461 Total 216,800 204,030 Others consist of donation, fine, loss on sale of foreclosed properties and others. - 102 -