Prudentialife pPlan holders want liquidation deferred
By Leila B. Salaverria
Insurance Commissioner Emmanuel Dooc has deferred the liquidation of the troubled preneed firm Prudentialife Plans Inc. on the request of some plan holders themselves.
Insurance Commissioner Emmanuel Dooc has deferred the liquidation of the troubled preneed firm Prudentialife Plans Inc. on the request of some plan holders themselves.
When we observe Labor Day on Wednesday, let us remember our farmers—the backbone of our food supply. In our labor force, farmers are the most adversely affected by climate-related events, such as typhoons, due to their dependence on climate, poor economic condition, and high-risk areas. The challenge to us is to protect them, as well as our food supply, from climate change risks.
Fifty years of success.
Australian insurance firm QBE is setting up its biggest office complex in the Philippines at the Bonifacio Global City’s Net Cube building, which will become a local hub for its regional shared services.
C.V. Starr and Co. Inc., a global insurer and financial services provider, is in talks with Philam Life on a potential deal that will help it expand its Asian operations by doing business in the Philippines.
The Philippine Deposit Insurance Corp. settled less claims in 2012 as the number of banks that closed down declined from that of the previous year.
The Philippine life insurance industry posted a growth in total gross premiums of at least 37 percent year on year in 2012, more than double the target amount set, Insurance Commissioner Emmanuel Dooc said Wednesday.
Global insurance giant Sun Life of Canada is on the lookout for acquisition opportunities in the Philippines, as rising capital requirement is seen prompting more consolidation in the local insurance industry.
Generali Philippines, a joint venture between global insurer Generali Group and local banking giant BDO Unibank, plans to phase out non-life operations and concentrate solely on the life insurance business by 2013.
Thanks to the restraining order issued by a Quezon City judge, the country’s insurance industry and the thousands of Filipinos it employs and on whose services it relies will live another day, or perhaps several more years.
Local insurance companies gained a respite from a requirement to jack up their minimum paid-up capital as the Quezon City Regional Trial Court last Tuesday issued a writ of preliminary injunction against the regulation.
Pru Life UK is pushing for the lifting of the premium tax on insurance, saying such a move will address the problem of low insurance penetration rate in the Philippines.
