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Array ( [results] => Array ( [0] => Array ( [ArticleID] => 168456 [Title] => Gatchalian insurance firm under state of liquidation [Summary] => TICO Insurance Co. Inc. formerly known as Tabacalera Insurance Co., is now under a state of liquidation after more than a year under a conservator. The Wellex Group Inc. of plastic king William Gatechalian reportedly controls TICO.
In November 2000, the Insurance Commission (IC) issued a cease-and-desist order (CDO) on TICO after it failed to cover up its capital impairment and margin of solvency of 46.9-million as well as failing to report its financial status in 2002. The CDO disallows the non-life insurance company from selling new policies.
[DatePublished] => 2002-07-16 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1097672 [AuthorName] => Ted P. Torres [SectionName] => Banking [SectionUrl] => banking [URL] => ) ) )
ALEX DINO
Array ( [results] => Array ( [0] => Array ( [ArticleID] => 168456 [Title] => Gatchalian insurance firm under state of liquidation [Summary] => TICO Insurance Co. Inc. formerly known as Tabacalera Insurance Co., is now under a state of liquidation after more than a year under a conservator. The Wellex Group Inc. of plastic king William Gatechalian reportedly controls TICO.
In November 2000, the Insurance Commission (IC) issued a cease-and-desist order (CDO) on TICO after it failed to cover up its capital impairment and margin of solvency of 46.9-million as well as failing to report its financial status in 2002. The CDO disallows the non-life insurance company from selling new policies.
[DatePublished] => 2002-07-16 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1097672 [AuthorName] => Ted P. Torres [SectionName] => Banking [SectionUrl] => banking [URL] => ) ) )
abtest
By Ted P. Torres | July 16, 2002 - 12:00am
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