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(NAR) VOL. 7 NO. 1 / JANUARY-MARCH 1996

[ IC CIRCULAR LETTER NO. 3-96 CL, February 06, 1996 ]

INTEREST INCOME DUE THE CONTRIBUTIONS TO THE SECURITY FUND — LIFE AND NON-LIFE ACCOUNTS



Further to our Circular Letter No. 2-96 dated January 19, 1996, please be advised that the rates for the accrued interest net of administrative expenses per the approved COA-MBM-MOF Joint Circular No. 1-87 dated January 1, 1987 on the reassessed contributions to the Security Fund Accounts to be reflected in your financial statements as of December 31, 1995, are as follows:

FOR LIFE INSURANCE COMPANIES                9.268731%
FOR NON-LIFE INSURANCE COMPANIES        9.635674%
FOR SENTINEL INSURANCE COMPANY           3.604656%

Please be guided accordingly.

Adopted: 06 Feb. 1996

(SGD.) EDUARDO T. MALINIS
Insurance Commissioner
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