Day: July 23, 2024

MUMBAI, Milliman, a premier global consulting and actuarial firm, today released its annual 2023 embedded value results: Asia report which includes 2023 embedded value (EV) and value of new business (VNB) results disclosed by major multinational and domestic life insurers across Asia Pacific. The report also analyses and discusses the EV methodologies and assumptions used, and the impact of changes to key regulations in the region. ‘An overall increase in EV and VNB across the region in 2023 reflects the bounce back of many economies,’ said Milliman Principal and Consulting Actuary Heerak Basu. ‘With the easing of Covid restrictions and

MANILA: Malacañang on Tuesday afternoon suspended government work and classes at all levels in Metro Manila due to inclement weather brought by the southwest monsoon (habagat) and Typhoon Carina. Executive Secretary Lucas Bersamin, by the authority of President Ferdinand R. Marcos Jr., signed Memorandum Circular 57, suspending government work and classes effective 2 p.m. However, those agencies whose functions involve the delivery of basic and health services, preparedness and response to disasters and calamities, and the performance of other vital services shall continue operations and render the necessary services. ‘The suspension of work for private companies and offices are left

MANILA: The government has allocated PHP42 billion for 2025 to further strengthen the country’s irrigation systems, the Department of Budget and Management (DBM) said Tuesday. Speaking at the post-State of the Nation Address discussions in Pasay City, Budget Secretary Amenah Pangandaman said the allocation is in line with the priority thrust of the administration of President Ferdinand R. Marcos Jr. of achieving food security by strengthening the agriculture sector. ‘As [President Marcos] mentioned in his SONA, we are strengthening our irrigation system nationwide. We have allocated PHP42 billion for our irrigation system nationwide next year,’ Pangandaman said. The irrigation budget

MANILA: The Civil Service Commission (CSC) has unveiled the list of the 26 semi-finalists for the prestigious 2024 Search for Outstanding Government Workers and is inviting the public to participate in the evaluation process by providing feedback on the national nominees. ‘We invite you to take part in this year’s Search for Outstanding Government Workers by sharing your comments and reactions on the semi-finalists. Your feedback is crucial in helping us recognize the most deserving candidates who exemplify excellence in public service,’ CSC Chairperson Karlo Nograles said in a press release. The public is encouraged to submit their comments, whether

MANILA: The Department of Justice (DOJ) on Tuesday said the distribution of survivorship benefits to the first batch of families of deceased retired prosecutors under Republic Act (RA) No. 11643 has proceeded successfully. In a statement, the DOJ said around 25 qualified beneficiaries received their survivorship benefits in the form of checks covering the period from Jan. 1 to July 31, 2024 under the Act Granting Survivorship Benefits to the Surviving Legitimate Spouse and Dependent Children of a Deceased Retired Member of the National Prosecution Service (NPS). Under RA 11643, the family of qualified prosecutors shall now be eligible to