Requested from IC by J. Manalo at 09:29 AM on
Oct 12, 2022.
Purpose: Purpose of this Request is for Research purposes and request is by virtue of IC CL 2021-73.
Date of Coverage: 01/01/2021 - 12/31/2021
Tracking no: #IC-591915196064
Manalo 09:29 AM, Oct 12, 2022
Hi Insurance Commission,
Good day!
Following the mandate of IC CL 2021-73, I would like to request for a copy of the 2021 Audited Financial Statements and Annual Statements of the following IC regulated Entities:
a. AON Insurance and Reinsurance Brokers Philippines Inc;
b. Howden Insurance and Reinsurance Brokers Philippines Inc;
c. Lockton Philippines Insurance and Reinsurance Brokers Inc;
d. Marsh Philippines Inc;
Will be hoping for your kind consideration on this request. Thank you.
Ignacio 11:25 AM, Oct 12, 2022
October 12, 2022
Dear Mr. Manalo,
I refer to my letter of Oct 12, 2022 09:29:09 AM about your request under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, for Audited Financial Statement and Annual Statements of IC Regulated Entities.
In order for us to work on your request, we need more information from you regarding your query. In particular, it would be helpful to know for what specific purpose you are going to use the information, specifically whether it is personal or for use by agency/business company. If for use by a agency/business entity, to ensure that whatever information, advice, request or inquiry that are being sent to the Commission are authorized by or known to top or senior management of the company, please have the request signed by the President of the company or a responsible company officer with the rank of at least Vice President. Also, may we be inform of which specific part/detail of the financial report are needed for the research. Kindly note that, in accordance with the Insurance Commission’s FOI Manual, the cost of reproduction of the requested information shall be the reasonable amount of Ten Pesos Only (Php10.00) per page. You may use the reply function on the eFOI portal at https://portalaudit20180803v2-dot-efoi-ph.appspot.com/requests/aglzfmVmb2ktcGhyHAsSB0NvbnRlbnQiD0lDLTU5MTkxNTE5NjA2NAw, for request with ticket number #IC-591915196064, to respond.
During the period of us awaiting your reply, your request will be put on hold. If we do not receive a reply on or before Jan 04, 2023 03:23:03 AM, your request will be closed.
We hope to hear from you at the soonest possible time.
Thank you.
Respectfully,
Edmar Ignacio
FOI Officer
Attachments:
IC Advisory - Official Communication to IC.pdf
Manalo 10:30 AM, Oct 17, 2022
Hello,
I'm a graduate research student and would like to know the percentage of share of income of insurance brokers to the insurance industry. I'd like to know also the assets and solvency of this top brokers to know their market competiveness. Besides these documents are public documents since these companies are vested with public interest.
Hence, appreciate your approval based on the intent and purpose of the Freedom of Information Act.
Thank you.
Ignacio 01:54 PM, Oct 17, 2022
October 17, 2022
Dear Mr. Manalo,
Thank you for your request dated Oct 12, 2022 under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch, regarding Financial Information of Insurance and Reinsurance Brokers Companies.
We received your request on Oct 17, 2022 and will respond on or before Nov 08, 2022 09:29:09 AM, in accordance with the Executive Order's implementing rules and regulations.
Should you have any questions regarding your request, kindly contact me using the reply function on the eFOI portal at https://2018midyear08242018-dot-efoi-ph.appspot.com/requests/aglzfmVmb2ktcGhyHAsSB0NvbnRlbnQiD0lDLTU5MTkxNTE5NjA2NAw, for request with ticket number #IC-591915196064.
Thank you.
Respectfully,
Edmar Ignacio
FOI Officer
Simon 04:10 PM, Oct 19, 2022
October 19, 2022
Dear Mr. Manalo,
Greetings!
Thank you for your request dated Oct 12, 2022 09:29:09 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.
Your Request
You asked for Audited Financial Statement and Annual Statements of IC Regulated Entities.
Response to Request
In relation to your request, please be informed that requested information are ready for release. Kindly prepare an amount of Php220.00 for the reproduction cost. Attached is a copy of the Order of Payment for your reference.
In visiting the Insurance Commission, kindly book an appointment using our IC Appointment Reservation System (ICare) which can be accessed through the link: https://web.insurance.gov.ph/icare/login. Representative assigned to pick up the requested document must be duly authorized in writing and must bring a photocopy of valid ID for records purposes.
For your information and guidance.
If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by email at rr.mojica@insurance.gov.ph. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request.
If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011).
The quality of services you deserve matter to us. To help the Insurance Commission monitor the progress in improving its services, we appreciate accomplishing the Customer Satisfaction Surveys (CSS) through the following link: https://bit.ly/ICCustomerSatisfactionSurvey
Thank you.
Respectfully,
Chantal Mae Simon
FOI Decision Maker
Attachments:
RES-2022-10-00005.pdf
Manalo 05:10 PM, Oct 21, 2022
Hello, Is it possible if I can also request for the AFS of the following Top 4 Non-Life Insurance Companies based on the Ranking attached? I just wanted to have a comparison from an Insurance Company vis-a-vis with a Broker perspective.
Hence, for this request, would be needing 2022 AFS of :
a. Malayan Insurance;
b. Pioneer Insurance;
c. Prudential Guarantee Assurance
d. BPI/MS Insurance Corp.
Would appreciate your kind approval and usual coorperation.
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