In view of Department Order No. 31-2014 of the Department of Finance mandating the submission by this Commission of asset-related information on insurance companies and the need to update the quarterly reports on financial statistics, the template for these reports have been revised to include the information prescribed in the said Department Order as well as relevant statistics on variable life insurance, microinsurance and compulsory insurance coverage for Overseas Filipino Workers.

The quarterly reports using the attached revised templates must be duly certified to by a responsible officer with a rank of at least Vice-President and submitted directly to the Statistics and Research Division of this Commission. The 3rd quarter report is due not later than October 20, 2014 while the subsequent reports will be due every 20th day of the month following the end of every quarter.

A penalty of Five Thousand Pesos (P 5,000.00 ) for each day of delay in the submission of quarterly reports and Five Hundred Pesos ( P500.00 ) for every wrong data entry of material information shall be imposed pursuant to Circular Letter No. 2014-15 dated May 15, 2014.

For strict compliance.

(SGD) EMMANUEL F. DOOC
Insurance Commissioner