IC Circular No. 17-2008
INTEREST INCOME DUE THE CONTRIBUTIONS TO THE SECURITY FUND LIFE AND NON-LIFE ACCOUNTS
(NAR) VOL. 19 NO. 2 / APRIL - JUNE 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 3.16598% COMPANIES 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