+ Follow NATIONAL RE Tag
NATIONAL RE
Array
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[results] => Array
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[0] => Array
(
[ArticleID] => 304347
[Title] => Insurance firms’ merger okayed
[Summary] =>
All is set for the merger of National Reinsurance Corp. and Universal Malayan Reinsurance Corp. (UMRE) after their respective boards gave their go signal to join forces to make it at par with other reinsurance firms in Southeast Asia.
Once the merger is completed, the surviving entity (National Re) will have an asset base of P5.5 billion and an equity base of P3 billion.
Around 87 percent of National Re’s stockholders voted in favor of the merger while 99 percent of UMRe’s stockholders gave their approval to the union.
[DatePublished] => 2005-10-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[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] =>
)
[2] => Array
(
[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] =>
)
[3] => 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] =>
)
[4] => Array
(
[ArticleID] => 169766
[Title] => 8 insurance firms invest P555M in government securities
[Summary] => Eight insurance firms invested at least $11 million (roughly P555 million) in various instruments during the first three months this year,the Insurance Commission (IC) reported yesterday.
The IC said these dollar-denominated investments, which were made with the National Government," included $3 million from Pioneer Allianz Life Assurance Corp. in the form of high yield reserve assets facilities.
[DatePublished] => 2002-07-27 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 150364
[Title] => Insurers invest P10B in various financial instruments last year
[Summary] => The country’s insurance industry invested at least P10.16 billion in various investment instruments including government bonds, corporate bonds, eurobonds, corporate loans, bank notes, government securities, capital markets, and commercial papers in 2001.
In 2000, the 40 life insurers invested a minimum P14.84 billion or a 31.5 percent better than last year.
[DatePublished] => 2002-02-12 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[6] => Array
(
[ArticleID] => 139245
[Title] => GSIS: PCIJ story full of lies
[Summary] => 
Winston Garcia, president and general manager of the Government Service Insurance System (GSIS), branded as "libelous, malicious and without an iota of evidence" a report by the Philippine Center for Investigative Journalism (PCIJ) entitled "A Ne-ver-ending Scam."
[DatePublished] => 2001-11-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[7] => Array
(
[ArticleID] => 130736
[Title] => Insurance sector invests P6B in 1st seven months
[Summary] => The insurance industry invested P6 billion in various programs of the government in the first seven months of the year.
Of the total amount, P3.6 billion were in peso-denominated investments while $47 million (or roughly P2.4 billion) were in dollar-denominated investments.
The Insurance Commission (IC) said these investments represent five to 10 percent of the total investments of the entire insurance industry, which includes the life, non-life and professional reinsurers.
[DatePublished] => 2001-08-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
abtest
November 7, 2001 - 12:00am
