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                    [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
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ALEX DINO

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                    [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
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abtest

Gatchalian insurance firm under state of liquidation

By Ted P. Torres | July 16, 2002 - 12:00am

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...

Banking