Interest Income Due the Contributions to the Security Fund Life and Non-Life Accounts
Insurance Circular Letter No. 055-15 • Other Rules and Procedures • Insurance Commission • Nov 6, 2015
Full text
November 6, 2015 INSURANCE CIRCULAR LETTER NO. 055-15 TO : All Insurance Companies Authorized to Transact Business in the Philippines SUBJECT : Interest Income Due the Contributions to the Security Fund Life and Non-Life Accounts The rates for the accrued interest income net of administrative expenses based on the approved COA-MBM-MOF Joint Circular No. 1-87 dated January 1, 1987 on the reassessed contributions to the Security Fund Accounts for a particular period are as follows: 1. Combined interest rates for year 2011 to 2013 FOR LIFE INSURANCE COMPANIES 3.187248% FOR NON LIFE INSURANCE COMPANIES 2.645381% 2. Interest rate for year 2014 FOR LIFE INSURANCE COMPANIES 0.429815% FOR NON LIFE INSURANCE COMPANIES 0.435087% (SGD.) VIDA T. CHIONG Deputy Insurance Commissioner Officer-in-Charge
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.