National Reinsurance
Corporation of the Philippines was incorporated in 1978 as a
domestic professional reinsurance firm to provide life and
non-life reinsurance to the Philippines and neighboring
insurance markets. On January 15, 2007, the Company received
approval from the Securities and Exchange Commission to use
the names and styles of Philippine National Reinsurance
Company or “PhilNaRe” to enhance its image as the country’s
national reinsurer.
The primary mandate
of PhilNaRe is to assist in the development of the Philippine
insurance industry by providing reinsurance capacity and
support to Philippine insurance companies as well as by
contributing towards higher retention of business within the
country.
PhilNaRe is today the
only domestic professional reinsurance company in the
Philippines. The Company is listed in the Philippine Stock
Exchange with the trading symbol NRCP.
The National Reinsurance Corp. of the Philippines (PhilNaRe)
posted a P94-million profit last year, weathering a bad
year that saw its first underwriting loss in 19 years
Citing a higher level of claims, National Reinsurance Corporation
of the Philippines (PSE: NRCP), or PhilNaRe, reported a net loss of
P124 million or P0.06 per share for the quarter ended March 31, 2009
