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                    [Title] => GSIS’ bid to issue comprehensive TPL cover bucked
                    [Summary] => The country’s insurers are opposing the entry of the Government Service and Insurance System (GSIS) into the comprehensive third-party liability (CTPL) coverage business.


Herminia S. Jacinto, president of the Philippine Insurers and Reinsurance Association (PIRA), said the government pension fund is not mandated by its charter to issue CTPL to the private sector.  


"They cannot insure private vehicles, only government vehicles which number only 75,000 or roughly 1.6 percent of all registered vehicles in the country," she said.


                    [DatePublished] => 2005-10-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
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                    [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
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HERMINIA S

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                    [Title] => GSIS’ bid to issue comprehensive TPL cover bucked
                    [Summary] => The country’s insurers are opposing the entry of the Government Service and Insurance System (GSIS) into the comprehensive third-party liability (CTPL) coverage business.


Herminia S. Jacinto, president of the Philippine Insurers and Reinsurance Association (PIRA), said the government pension fund is not mandated by its charter to issue CTPL to the private sector.  


"They cannot insure private vehicles, only government vehicles which number only 75,000 or roughly 1.6 percent of all registered vehicles in the country," she said.


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                    [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.


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GSIS’ bid to issue comprehensive TPL cover bucked

By Ted P. Torres | October 1, 2005 - 12:00am

The country’s insurers are opposing the entry of the Government Service and Insurance System (GSIS) into the comprehensive third-party liability (CTPL) coverage business. Herminia S. Jacinto, president of the...

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