Tax Digest
Volume 10,
Series 60
Insurance Company Closed!

To help disseminate the information of cessation of FAR EASTERN SURETY AND INSURANCE COMPANY, the BIR released this circular for all concerns persons to know. According to the circular, the Insurance Commission (IC) issued a cease and desist order from doing insurance business and simultaneously placing the insurance company under Conservatorship effective on April 14, 2016. Hence, the BIR are ordered not to transact without the consent of the IC, or the undersigned.

Finally, all claims, orders, notices and similar communications should be addressed to the Conservatorship, Receivership and Liquidation Division of the IC.

Revenue Memorandum Circular No. 7-2017
Copyright © 2017 Alas Oplas & Co., CPAs. All rights reserved.