Non-Life Insurance Companies Merge to Meet Capital Requirement
More and more non-life insurance firms today are starting to conduct merger talks in order to comply with the minimum capital requirement expected to be implemented by the end of 2019. As it was stated in the Republic Act No. 10607, insurance companies must augment their net worth from P550 million to 900 million by the end of 2019. This will be even increased to a whopping P1.3 billion by…