INSURANCE COMPANIES WITH CEASE AND DESIST ORDERS (CDO)

Reports have been received that despite the issuance of CDOs and the publication thereof of the following non-life insurance companies, some are still issuing policies, especially in the provinces:

                                                                                                               

Name of Company	Date of CDO
1. First Integrated Bonding & Surety Company, Inc.	September 5, 1990
2. TICO Insurance Company, Inc.	November 22, 2000
3. The Imperial Insurance, Inc.	July 17, 2001
4. Luzon Insurance & Surety Company, Inc.	September 30, 2002
5. First Quezon City Insurance Company, Inc.	September 30, 2002
6. Times Surety & Insurance Company, Inc.	September 30, 2002
7. Wellington Insurance Company, Inc.	March 1, 2004
8. The Capital Insurance & Surety Company, Inc.	June 3, 2004
9. Mantruste Insurance Corporation	October 24, 2003
10. Zenith Insurance Corporation	November 11, 2004
11. Development Insurance & Surety Corporation	November 11, 2004
12. Mega Pacific Insurance Corporation	December 6, 2004

In view thereof, please post in the most conspicuous places of your offices and/or branches the list of the insurance companies with CDOs with the view to easily catching wide public attention and awareness.

This Circular Letter shall take effect immediately.

Adopted: 3 March 2005

(SGD.) BENJAMIN S. SANTOS
Insurance Commissioner