Amendment to Circular Letter CL No. 2014-42-A: Valuation Standards for Life Insurance Policy Reserves
Insurance Circular Letter No. 050-15 • Other Rules and Procedures • Insurance Commission • Oct 5, 2015
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October 5, 2015 INSURANCE CIRCULAR LETTER NO. 050-15 Amending: CL No. 2014-42-A TO : All Life Insurance Companies and Mutual Benefit Associations Doing Business in the Philippines SUBJECT : Amendment to Circular Letter CL No. 201 4-42-A: Valuation St andards for Life Insurance Policy Reserves The " Summary of Valuation Results " labeled as Annex B in Circular Letter No. 2014-42-A: Valuation Standards for Life Insurance Policy Reserves is hereby amended to include additional data necessary for the evaluation of the impact of change in valuation basis from Net Premium Valuation (NPV) to Gross Premium Valuation (GPV) as well as any change in assumptions under GPV. Attached is the revised template for the " Summary of Valuation Results " which can also be accessed through our website. DcHSEa Please be guided accordingly. (SGD.) EMMANUEL F. DOOC Insurance Commissioner ATTACHMENT Summary of Valuation Results
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