IC CIRCULAR NO. 17-2008, March 28, 2008

[ IC CIRCULAR NO. 17-2008, March 28, 2008 ]

INTEREST INCOME DUE THE CONTRIBUTIONS TO THE SECURITY FUND LIFE AND NON-LIFE ACCOUNTS

I. The rates for the accrued interest income net of administrative expenses based on the approved COA-MBM-MOF Joint Circular No. 1-87 dated January 1, 1987 on the reassessed contributions to the Security Fund Accounts for the year 2007 are as follows:

FOR LIFE INSURANCE COMPANIES 3.20999%

FOR NON-LIFE INSURANCE COMPANIES 3.16598%

II. The aforesaid accrued interest income shall be reflected in your financial statements as of December 31,2007.

Adopted: 28 Mar. 2008

(SGD.) EDUARDO T. MALINIS Insurance Commissioner