The pre-need industry incurred a net loss of P7.11 billion as of the third quarter of 2022, as 75 percent of firms reported declines during the period, the Insurance Commission said.
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The pre-need industry’s income rose by 31 percent to P1.33 billion in the first semester amid higher life plans sold, according to the Insurance Commission.
THE Insurance Commission (IC) gave pre-need companies more options on where to invest their trust funds. Insurance Commissioner Dennis B. Funa signed Circular Letter 2022-37, amending the guidelines on allowable investments for pre-need trust funds. The updated list of allowable investment outlets for pre-need companies includes: Real Estate Investments Trust…
THE Insurance Commission (IC) gave pre-need companies a wider berth in the use of their respective trust fund for investments. Through its issuance of Circular Letter 2022-25 signed by IC chief Dennis B. Funa, the regulator mandated an additional 2-percent increase in the investment threshold allocation of pre-need companies “to…