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                    [ArticleID] => 5527
                    [Title] => Cebu’s insurance firms and agents  seek ouster of commissioner
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                    [DatePublished] => 2007-07-13 00:00:00
                    [ColumnID] => 133272
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                    [SectionName] => Cebu News
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                    [ArticleID] => 396900
                    [Title] => IC remains firm on capital hike, RBC formula
                    [Summary] => 


The Insurance Commission (IC) has remained firm in its implementation of the risk based capital (RBC) formula which is the principal consideration for raising the network capital base of all insurance companies for 2007.


Last year, the commission raised the networth capital base whcih includes paid up capital, to P100 million from a mere P50 million. Based on its five-year capital build-up plan, all insurance companies must have a networth capital base of P500 million by 2010.


                    [DatePublished] => 2007-05-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
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                    [ArticleID] => 381355
                    [Title] => January is microinsurance month
                    [Summary] => 

The month of January has been declared Microinsurance Month under Presidential Proclamation 1212 signed on Jan. 10, 2007.


The proclamation likewise designated the Insurance Commission (IC) and the Department of Finance (DOF) as the lead agencies and enjoining all in the government to "initiate and participate" in various activities.


                    [DatePublished] => 2007-01-23 00:00:00
                    [ColumnID] => 133272
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                    [SectionName] => Banking
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                    [ArticleID] => 356275
                    [Title] => DOF defers capital hike for insurance firms
                    [Summary] => The finance department has postponed anew its decision on a proposal to increase the capital base of insurance companies.


The minimum capital build-up proposal has been in the discussion stage since late last year. The proposal include the implementation of the risk-based capital (RBC) formula in line with the international accounting standards and the Basel II convention.


"I will meet with my technical staff and (Insurance) Commissioner Evangeline Escobillo next week or before Sept. 8," Finance Secretary Margarito Teves said over the weekend.


                    [DatePublished] => 2006-09-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
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                    [ArticleID] => 348358
                    [Title] => Setting the record straight
                    [Summary] => SM magnate-heiress Tessie Sy vehemently denies allegations by columnist Conrado Banal of having held "secret" talks with GSIS chief Winston Garcia for the acquisition of the GSIS-owned shares in Equitable PCI Bank (EPCIB). Sy said she indeed had one meeting with Garcia but that was several months ago. The eldest daughter of taipan Henry Sy Sr.
                    [DatePublished] => 2006-07-20 00:00:00
                    [ColumnID] => 135728
                    [Focus] => 0
                    [AuthorID] => 1730160
                    [AuthorName] => S.A. Maguire
                    [SectionName] => Business
                    [SectionUrl] => business
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COMMISSIONER EVANGELINE ESCOBILLO

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                    [Title] => Cebu’s insurance firms and agents  seek ouster of commissioner
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                    [DatePublished] => 2007-07-13 00:00:00
                    [ColumnID] => 133272
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                    [ArticleID] => 396900
                    [Title] => IC remains firm on capital hike, RBC formula
                    [Summary] => 


The Insurance Commission (IC) has remained firm in its implementation of the risk based capital (RBC) formula which is the principal consideration for raising the network capital base of all insurance companies for 2007.


Last year, the commission raised the networth capital base whcih includes paid up capital, to P100 million from a mere P50 million. Based on its five-year capital build-up plan, all insurance companies must have a networth capital base of P500 million by 2010.


                    [DatePublished] => 2007-05-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [AuthorName] => 
                    [SectionName] => Banking
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                (
                    [ArticleID] => 381355
                    [Title] => January is microinsurance month
                    [Summary] => 

The month of January has been declared Microinsurance Month under Presidential Proclamation 1212 signed on Jan. 10, 2007.


The proclamation likewise designated the Insurance Commission (IC) and the Department of Finance (DOF) as the lead agencies and enjoining all in the government to "initiate and participate" in various activities.


                    [DatePublished] => 2007-01-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
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                (
                    [ArticleID] => 356275
                    [Title] => DOF defers capital hike for insurance firms
                    [Summary] => The finance department has postponed anew its decision on a proposal to increase the capital base of insurance companies.


The minimum capital build-up proposal has been in the discussion stage since late last year. The proposal include the implementation of the risk-based capital (RBC) formula in line with the international accounting standards and the Basel II convention.


"I will meet with my technical staff and (Insurance) Commissioner Evangeline Escobillo next week or before Sept. 8," Finance Secretary Margarito Teves said over the weekend.


                    [DatePublished] => 2006-09-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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                    [ArticleID] => 348358
                    [Title] => Setting the record straight
                    [Summary] => SM magnate-heiress Tessie Sy vehemently denies allegations by columnist Conrado Banal of having held "secret" talks with GSIS chief Winston Garcia for the acquisition of the GSIS-owned shares in Equitable PCI Bank (EPCIB). Sy said she indeed had one meeting with Garcia but that was several months ago. The eldest daughter of taipan Henry Sy Sr.
                    [DatePublished] => 2006-07-20 00:00:00
                    [ColumnID] => 135728
                    [Focus] => 0
                    [AuthorID] => 1730160
                    [AuthorName] => S.A. Maguire
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abtest

Cebu’s insurance firms and agents  seek ouster of commissioner

July 13, 2007 - 12:00am

Cebu News

IC remains firm on capital hike, RBC formula

May 1, 2007 - 12:00am

The Insurance Commission (IC) has remained firm in its implementation of the risk based capital (RBC) formula which is the principal consideration for raising the network capital base of all insurance companies...

Banking

January is microinsurance month

January 23, 2007 - 12:00am

The month of January has been declared Microinsurance Month under Presidential Proclamation 1212 signed on Jan. 10, 2007. The proclamation likewise designated the Insurance Commission (IC) and the Department...

Banking

DOF defers capital hike for insurance firms

By Ted P. Torres | September 4, 2006 - 12:00am

The finance department has postponed anew its decision on a proposal to increase the capital base of insurance companies. The minimum capital build-up proposal has been in the discussion stage since late last year....

Business

Setting the record straight

By S.A. Maguire | July 20, 2006 - 12:00am

SM magnate-heiress Tessie Sy vehemently denies allegations by columnist Conrado Banal of having held "secret" talks with GSIS chief Winston Garcia for the acquisition of the GSIS-owned shares in Equitable...

Business