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                    [ArticleID] => 304070
                    [Title] => RP’s 2 reinsurance firms merge into 1 entity
                    [Summary] => 



The merger between the National Reinsurance Corporation of the Philippines (National Re) and Universal Malayan Reinsurance Corp. (UMRe) will result in a single reinsurance company in the country.


Based on application papers filed with the Securities and Exchange Commission (SEC), the merger will make National Re the surviving entity.


A reinsurance company assists life and non-life insurance companies raise or ensure sources of funds for future claims. 


                    [DatePublished] => 2005-10-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 244595
                    [Title] => Uni Re, Malayan merger forms P1-B firm
                    [Summary] => A strong local reinsurance industry capable of competing in Southeast Asia and attaining retention levels that should minimize outflow of precious foreign reserves is now clearly on the horizon.


This encouraging prospect follows the merger of two of the country’s biggest names in the Philippine reinsurance business: Malayan Reinsurance Corp. (Malayan Re) of the Yuchengcos and Universal Reinsurance Corp. (Uni Re) of the Ayalas. Both groups have equal interests in the new company.


                    [DatePublished] => 2004-03-30 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
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                    [ArticleID] => 230311
                    [Title] => Reinsurance industry consolidates; Universal, Malayan groups merge
                    [Summary] => Universal Reinsurance Corp. (Universal Re) and Malayan Reinsurance Corp. (Malayan Re) have merged operations, resulting in the shrinking of the local reinsurance industry.


Malayan Re chief executive Matias  Simbulan said the "merger of equals" would result in the surviving entity, after completion of the detailed talks as well as fulfillment of government requirements, known as the Universal Malayan Reinsurance Corp.


Unofficial estimates place the merged reinsurers’ resources of over P1 billion.


                    [DatePublished] => 2003-12-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [3] => Array
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                    [ArticleID] => 217744
                    [Title] => Universal Re, Malayan Reagree to merge
                    [Summary] => Universal Reinsurance Corp. (Universal Re) and Malayan Reinsurance Corp. (Malayan Re)  have agreed to merge resulting in the creation of Universal  Malayan Reinsurance Corp. (URC) with a premium base of roughly P1 billion


A reinsurance company offers additional protection for insurers that have huge accounts but are unable to cover the entire policy.


"It is really a joint venture but the surviving entity will be Universal Re," Universal Re chief finance officer Romeo Carabeo said.


                    [DatePublished] => 2003-08-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 193588
                    [Title] => DOF forms body to negotiate Napocor insurance policy
                    [Summary] => A joint bidding committee headed by the Department of Finance (DOF) will negotiate directly with reinsurance companies for the coverage of the assets of the National Power Corp. (Napocor).


The joint bidding committee headed by Finance Secretary Jose Isidro Camacho has started talks with the National Reinsurance Co. (National Re) and Malayan Reinsurance (Malayan Re), and that it expects to close a reinsurance arrangement that could save the government up to 15 percent of the cover cost.


                    [DatePublished] => 2003-01-31 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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MALAYAN RE

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                    [ArticleID] => 304070
                    [Title] => RP’s 2 reinsurance firms merge into 1 entity
                    [Summary] => 



The merger between the National Reinsurance Corporation of the Philippines (National Re) and Universal Malayan Reinsurance Corp. (UMRe) will result in a single reinsurance company in the country.


Based on application papers filed with the Securities and Exchange Commission (SEC), the merger will make National Re the surviving entity.


A reinsurance company assists life and non-life insurance companies raise or ensure sources of funds for future claims. 


                    [DatePublished] => 2005-10-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
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                (
                    [ArticleID] => 244595
                    [Title] => Uni Re, Malayan merger forms P1-B firm
                    [Summary] => A strong local reinsurance industry capable of competing in Southeast Asia and attaining retention levels that should minimize outflow of precious foreign reserves is now clearly on the horizon.


This encouraging prospect follows the merger of two of the country’s biggest names in the Philippine reinsurance business: Malayan Reinsurance Corp. (Malayan Re) of the Yuchengcos and Universal Reinsurance Corp. (Uni Re) of the Ayalas. Both groups have equal interests in the new company.


                    [DatePublished] => 2004-03-30 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
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                    [ArticleID] => 230311
                    [Title] => Reinsurance industry consolidates; Universal, Malayan groups merge
                    [Summary] => Universal Reinsurance Corp. (Universal Re) and Malayan Reinsurance Corp. (Malayan Re) have merged operations, resulting in the shrinking of the local reinsurance industry.


Malayan Re chief executive Matias  Simbulan said the "merger of equals" would result in the surviving entity, after completion of the detailed talks as well as fulfillment of government requirements, known as the Universal Malayan Reinsurance Corp.


Unofficial estimates place the merged reinsurers’ resources of over P1 billion.


                    [DatePublished] => 2003-12-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                    [ArticleID] => 217744
                    [Title] => Universal Re, Malayan Reagree to merge
                    [Summary] => Universal Reinsurance Corp. (Universal Re) and Malayan Reinsurance Corp. (Malayan Re)  have agreed to merge resulting in the creation of Universal  Malayan Reinsurance Corp. (URC) with a premium base of roughly P1 billion


A reinsurance company offers additional protection for insurers that have huge accounts but are unable to cover the entire policy.


"It is really a joint venture but the surviving entity will be Universal Re," Universal Re chief finance officer Romeo Carabeo said.


                    [DatePublished] => 2003-08-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 193588
                    [Title] => DOF forms body to negotiate Napocor insurance policy
                    [Summary] => A joint bidding committee headed by the Department of Finance (DOF) will negotiate directly with reinsurance companies for the coverage of the assets of the National Power Corp. (Napocor).


The joint bidding committee headed by Finance Secretary Jose Isidro Camacho has started talks with the National Reinsurance Co. (National Re) and Malayan Reinsurance (Malayan Re), and that it expects to close a reinsurance arrangement that could save the government up to 15 percent of the cover cost.


                    [DatePublished] => 2003-01-31 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

RP’s 2 reinsurance firms merge into 1 entity

By Ted P. Torres | October 28, 2005 - 12:00am

The merger between the National Reinsurance Corporation of the Philippines (National Re) and Universal Malayan Reinsurance Corp. (UMRe) will result in a single reinsurance company in the country. Based on...

Business

Uni Re, Malayan merger forms P1-B firm

March 30, 2004 - 12:00am

A strong local reinsurance industry capable of competing in Southeast Asia and attaining retention levels that should minimize outflow of precious foreign reserves is now clearly on the horizon. This encouraging...

Banking

Reinsurance industry consolidates; Universal, Malayan groups merge

By Ted P. Torres | December 4, 2003 - 12:00am

Universal Reinsurance Corp. (Universal Re) and Malayan Reinsurance Corp. (Malayan Re) have merged operations, resulting in the shrinking of the local reinsurance industry. Malayan Re chief executive Matias Simbulan...

Business

Universal Re, Malayan Reagree to merge

By Ted P. Torres | August 19, 2003 - 12:00am

Universal Reinsurance Corp. (Universal Re) and Malayan Reinsurance Corp. (Malayan Re) have agreed to merge resulting in the creation of Universal Malayan Reinsurance Corp. (URC) with a premium base of roughly P1...

Business

DOF forms body to negotiate Napocor insurance policy

By Ted P. Torres | January 31, 2003 - 12:00am

A joint bidding committee headed by the Department of Finance (DOF) will negotiate directly with reinsurance companies for the coverage of the assets of the National Power Corp. (Napocor). The joint bidding committee...

Business