The Insurance Commission (IC) has placed pre-need firm Himlayang Pilipino Plans, Inc. (HPPI) under conservatorship due to poor financial management. In a statement, Insurance Commissioner Dennis B. Funa said on Monday, Jan. 24, that HPPI was placed under conservatorship following its “continuing...
The Insurance Commission reported that the premium income of insurers in the country jumped by double digits in the second-quarter, an indication of the country’s economic recovery from a prolonged pandemic. In a statement, Insurance Commissioner Dennis B. Funa said on Tuesday, Oct. 26, that the...
The health maintenance organizations’ (HMO) net income nearly doubled in the first three months of the year owing to lower benefit and claim payments, the Insurance Commission (IC) said. Based on the preliminary financial statements submitted to the IC, HMOs reported that the industry’s...
Insurance payments related to the coronavirus pandemic hit more than P8 billion. IC Comm. Dennis B. Funa Since the pandemic began, Insurance Commissioner Dennis B. Funa reported that payouts made by life and non-life insurers, health maintenance organizations (HMOs), and mutual benefit associations...
The Insurance Commission (IC) wants to remove variable insurance products from the list of mutual fund schemes to avoid increasing costs for consumers and defeating the goal of financial inclusion for all Filipinos. Sec. Dominguez and Comm. Funa In a letter to Finance Secretary and Capital Market...
The Council of Members of Asian Reinsurance Corp. (Asian Re) has reelected Insurance Commissioner Dennis B. Funa as chairperson for a fresh new two-year term. Screen Shot 2021-06-14 at 3.35.00 PM Funa, who previously served as vice-chairperson, was first elected as chairperson of Asian Re’s...
