8 Republic of the Phililppines

Department of Finance
INSURANCE COMI
1071 Umted Nations Al'en
Manila
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,May 3. 2000

CIRCULAR LETTER NO. 3.2OOO

I

TO ALL INSURANCE COMPANIES LICENSED

TO DO BUSINESS IN THE PHILIPPINES

SUBJECT INTEREST INCOME DUE THE CONTRIBUTIONS TO

THE SECURITY-FT]ND LIFE AND NON-LIFE ACCOI-INTS

Further to our circular Letter No. 2-2000 datecl January l l, 2000 please
be advised that the rates for the accrued interest income net of administrati,e
expenses per the approved coA-MBM-MoF Joint circular
No. l-g7 dated
January l, 1987 on the reassessed contributions to the Security Fund
Accounts to
be_reflected in your financial statements as of Decembei 3r. 1999.
are as
follows:

FOR LIFE INSURANCE CON,TPANIES 8,64132730/O

FoR NoN-LIFE INSURANCEiCoMPANms g.0s53075%
I

..
T4.corresponding interest inbome due from the Security Fund
contributions shall henceforth be reinvested in Government Securities
for the
accounts of security Fund, Lit-e and Non-Lif'e insurance companies,
and
deposited with the Bureau of the Treasury.

You u'ill be advised regularly of income eamed out of said reinvestment.

EDUARD VKr,xrwrc
Insurance Commissioner