PHILAM INSURANCE CORP

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                    [ArticleID] => 324423
                    [Title] => SEC approves capital hike of National Reinsurance to P3B
                    [Summary] => The Securities and Exchange Commission (SEC) has approved the increase in capital stock of National Reinsurance Corp. of the Philippines from P1 billion to P3 billion,  paving the way for its merger with Universal Malayan Reinsurance Corp. (UMRE).


Of the increase in capitalization, P1.59 billion has been subscribed and paid.


SEC documents show that National Reinsurance will be the surviving entity with an asset base of P5.5 billion upon completion of the merger.


                    [DatePublished] => 2006-03-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
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                    [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] => 
                )

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SEC approves capital hike of National Reinsurance to P3B

By Zinnia B. Dela Peña | March 5, 2006 - 12:00am

The Securities and Exchange Commission (SEC) has approved the increase in capital stock of National Reinsurance Corp. of the Philippines from P1 billion to P3 billion, paving the way for its merger with Universal...

Business

Insurance firms’ merger okayed

By Zinnia B. Dela Peña | October 30, 2005 - 12:00am

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...

Business