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    Date: 2022-10-05 20:13:54.084760

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Annual Financial Statements of Life Insurance Companies in the Philippines from 2005-2021

Requested from IC by A. Caballa at 08:13 PM on Oct 05, 2022.
Purpose: Research
Date of Coverage: 01/01/2005 - 12/31/2021
Tracking no: #IC-503690362680

Caballa 08:13 PM, Oct 05, 2022 

Greetings! 

We are 4th-year Management of Financial Institutions students from De La Salle University Manila and we are currently conducting our data gathering for our thesis about the Efficiency of Life Insurance Companies during and after the Global Financial Crisis using Malmquist-DEA approach and Stochastic Frontier Analysis. 

In line with this, we are humbly requesting financial statements or annual reports of Life Insurance companies in the Philippines for the years 2005-2021.

Rest assured that the data given will remain confidential and will solely be used for academic purposes.

Ignacio 09:23 AM, Oct 06, 2022 

October 6, 2022

Dear Mr. Caballa,

Greetings!

Thank you for your request dated Oct 05, 2022 08:13:54 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your request

You asked for Annual Financial Statements (AFS) or Annual Reports of Life Insurance Companies in the Philippines from 2005-2021.

Response to your request

We were able to determine that this particular information is already available online and therefore cannot be counted as a valid FOI request. You may retrieve your requested information from https://www.insurance.gov.ph/category/annual-reports/. 

Should you wish to request for copies of the AFS of  Life Insurance Companies, please 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.

Your right to request a review

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).

We value your feedback on the service we provided, and we shall greatly appreciate if you could accomplish our Customer/Citizen Satisfaction survey by clicking this link: https://bit.ly/ICCustomerSatisfactionSurvey  

Thank you.

Respectfully,
Edmar Ignacio
FOI Officer

Caballa 10:20 AM, Oct 06, 2022 

October 6, 2022

Dear Mr. Ignacio,

Greetings!

Thank you for this feedback. We have seen the annual report of the Insurance Commission online, however, we need the AFS of each life insurance company, as the annual report is already merged and summarized. To be more specific, we humbly request the individual Annual Financial Statements (Balance sheet, Statement of Cash Flows, and Income Statement) of the following companies from 2006 - 2021:

• Philippine AXA Life Insurance Corporation
• Pru Life Insurance Corporation of UK
• Allianz PNB Life Insurance, Inc. 
• FWD Life Insurance Corporation
• BDO Life Assurance Company, Inc.
• BPI-AIA Life Insurance Corporation
• Sun Life Grepa Financial, Inc.

For the copies, would this be in soft copy or hard copy? Please let me know if there would be anything needed from our end. Thank you!

Warm Regards,

Allen Caballa
DLSU-Manila | 4th year BS-FIN

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