50 billion, while the nonlife
insurance sector and MBA [mutual benefit association] sector accounted for 18.
Dominguez III told reporters when asked if the DOF was amenable to the nonlife
insurance sector's request for a review of the capitalization requirement.
Outside of the United States, the insurance industry is divided into life and nonlife
, or general insurance, rather than life/health and property/casualty.
Global Banking News-December 17, 2013--Philippine regulator wants cuts in taxes on nonlife
credit rating agency has lowered the debt rating outlook to ''negative'' from ''stable'' for Japanese nonlife
insurers after last Friday's devastating earthquake and tsunami that hit northeastern Japan.
061 billion, primarily driven by the life business in industrialized and emerging markets, and to a lesser extent by the nonlife
business in the emerging markets, according to the latest Swiss Re sigma study.
Under the alliance, the Japanese nonlife
insurer pays commissions to Royal & Sun Alliance for utilizing a research network on casualty and property damages owned by the British firm in the U.
831(b) (allowing qualifying nonlife
insurance companies, with net written premiums between $350,000 and $1.
Standard & Poor's (S&P) said Wednesday it will maintain its negative outlook on the Japanese nonlife
insurance sector following the disclosure of the industry's financial results for the year to March 31.
As many of the Philippine owned insurance firms had a difficult time in meeting the first capital requirement in December 2016 under the Amended Insurance Code, seven Philippine nonlife
insurers have voluntarily given up their license to operate and four Philippine nonlife
insurers have had to merge in order to comply with the P550-million capital in December 2017.
As for the nonlife
insurance sector, Funa said sales were brisk amid sustained economic expansion.