Republic of the Philippines DEPARTMENT OF FINANCE Manila
DEPARTMENT ORDER NO. May 2, 1996
49-96
DOING
TO
NON-LIFE INSURANCE COMPANIES ALL BUSINESS IN THE PHILIPPINES
SUBJECT
Amendment of Department Order No. 116-93, December 7, 1993
Pursuant to the authority vested in me by the provisions of Section 188 of the Insurance Code in relation to those of Section 184 thereof, and upon the recommendation of the Insurance Commission, sub-paragraph a, Rule No. 2 of Department Order No. 116-93 is hereby amended to read as follows: "a.
Non-life company - that its maximum writing authority on any one risk be limited to risks the value of which per sum insured does not exceed the following amounts in relation to its paid-up capital: Paid-Up Capital below P30 million 30,000 - 39,999 40,000 - 49,999
Writing Authority 3 4 5
times paid-up capital times paid-up capital times paid-up capital"
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