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Life insurance firm placed under conservatorship
The Philippine Star
|March 21, 2025
The government has placed life insurance firm Philippines International Life Insurance Co. Inc. (PhilInterLife) under conservatorship amid its inability to address requirements mandated by law.
In a notice to the public, Insurance Commission (IC) chief Reynaldo Regalado said that a cease and desist order (CDO) has been issued to PhilInterLife. The IC said PhilInterLife is unable to comply with the requirements of the Insurance Code.
As such, the CDO will stop the insurance company from doing business of any kind.
This story is from the March 21, 2025 edition of The Philippine Star.
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