Philippine insurance : dropped proposal to amend minimum capital rule may have mixed impact

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      <subfield code="a">According to press reports, the Philippine Insurance Commission's (IC) recent withdrawal of a proposal to hold the minimum net worth requirement of local insurance companies' at PHP 900 million (USD 18.6 million) is expected to have a mixed impact on the overall insurance industry over the short to medium term. AM Best notes that the Departament of Finance maintains its long-term objectives to strengthen the Philippines' insurance industry.</subfield>
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