.

l\epuhlic of tbe ~btHppines'

~upreme Q[ourt
®fftte of tbe Q[ourt ~bminis'trator
~anila

OCA CIRCULAR NO. 177-2024

TO: ALL TRIAL COURT JUDGES AND CLERKS OF

COURT/BRANCH CLERKS OF COURT

SUBJECT: THE PREMIER LIFE AND GENERAL ASSURANCE

CORPORATION AND TRAVELLERS INSURANCE
AND SURETY CORPORATION

On 7 June 2024, this Office was made aware of the Notice to the Public
issued by the Insurance Commission (IC) regarding the Cease-and-Desist
Order (CDO)1 effective 3 June 2024 against The Premier Life and General
Assurance Corporation and Travellers Insurance and Surety Corporation.
Both companies were ordered to cease and desist from taking insurance
business of any kind and character. Moreover, both companies were
simultaneously placed under Conservatorship pursuant to Section 255 of the
Amended Insurance Code. For concerns, the IC designated Interim Ex-Officio
Conservator, Atty. Jay A. Ramirez, of the CRL Division of the IC.

In line with the issuance of the CDO and for the protection of the public,
all concerned are directed to strictly comply and immediately inform the
Docket and Clearance Division, Legal Office, Office of the Court
Administrator through email at Qon<1~J9_g_':l1:_ocaC0.i_!J~lj_G_i~_ry'~Q_Y!12h of any and
all pending obligations of The Premier Life and General Assurance
Corporation and Travellers Insurance and Surety Corporation.

Strict compliance is hereby enjoined. -

18 June 2024

urt Administrato~

OCA CIRC CDOI ATP/J"/menChie/jane/menchie

I Annexes "A" and "B"

 Republic of the Philippines
Department of Finance
INSURANCE COMMISSION
1071 United Nations Avenue
Manila

NOTICE TO THE PUBLIC

Notice is hereby given that the Insurance Commission has issued a Cease and Desist
Order against Travellers Insurance & Surety Corporation due to the company's
inability to comply with the requirements of Republic Act (R.A.) No. 10607 otherwise
known as the "Amended Insurance Code" and/or Order of the Commission.

In line with this, Travellers Insurance & Surety Corporation was ordered to cease and
desist from taking insurance business of any kind or character and the company was
simultaneously placed under Conservatorship pursuant to Section 255 of the Amended
Insurance Code effective 03 June 2024 .

Atty. Jay A. Ramirez, Attorney I of Conservatorship, Receivership and Liquidation (CRL)

Division of the Insurance Commission is designated as Interim Ex-officio Conservator of
Travellers Insurance & Surety Corporation.

Concerned planholders, creditors. and interested parties are advised to address their
claims and concerns to the Interim Ex-officio Conservator, Atty. Jay A. Ramirez at CRL
Division of the Insurance Commission at 1071 United Nations Avenue, Manila with email
address crl@insurance.gov.ph orthe Office of the Conservator at 10th Floor G.E. Antonio
Building. T.M. Kalaw Street cor. J. Bocobo Street, Ermita, Manila.

For information and guidance.

TRUE copy

Head Office, P.O. Box 3589 Manila I Trunk line: +(632)8523-8461 to 70 I Fax No: +(632) 8522-14341 www.insurance.gov.ph
 Republic of the Philippines
Department of Finance
INSURANCE COMMISSION
1071 United Nations Avenue :'~;';' .~;,- ,,;~',
Manila
.1~ '1'!

03 June 2024

ATTY. JAY A. RAMIREZ

Attorney I
Conservatorship, Receivership
and Liquidation Division
Insurance Commission

SUBJECT: Designation as Interim Ex-Officio Conservator of

Travellers Insurance & Surety Corporation

Dear Atty. Ramirez:

Pursuant to Section 255 of Republic Act (R.A.) No. 10607, otherwise known as the
Amended Insurance Code, you are hereby appointed as Interim Ex-Officio
Conservator of Travellers Insurance & Surety Corporation.

As Conservator, you are hereby mandated to immediately take charge of the

company's assets, liabilities and management, collect all moneys and debts due it and
exercise all the powers necessary to protect its stakeholders.

You are likewise required to ensure that the company will submit on schedule all
financial, audit, accomplishment and other reports required by the Conservatorship,
Receivership and Liquidation (CRL) Division and the Commission.

Be advised further that all disbursements to be made during the period of receivership
are subject to the usual process of the CRL Division.

CERTIFIED TRUE. COpy

PEZ
rge Ci\~
[j):
.',
.
. ,' '
.

Head Office, P.O. Box 3589 Manila 1 Trunk Line: +(632) 8523·8461 to 70 1 Fax No: +(632) 8522.14341 www.insurance.gov.ph
 Republic of the Philippines
Department of Finance
INSURANCE COMMISSION
1071 United Nations Avenue
Manila

NOTICE TO THE PUBLIC

Notice is hereby given that the Insurance Commission has issued a Cease and Desist
Order gainst The Premier Life and General Assurance Corporation due to the
company's inability to comply with the requirements of Republic Act (R.A.) No. 10607
otherwise known as the "Amended Insurance Code" and/or Order of the Commission

In line with this, The Premier Life and General Assurance Corporation was ordered to
cease and desist from taking insurance business of any kind or character and the
company was simultaneously placed under Conservatorship pursuant to Section 255 of
the Amended Insurance Code effective 03 June 2024

Atty. Jay A. Ramirez, Attorney I of Conservatorship, Receivership and Liquidation (CRL)

Division of the Insurance Commission is designated as Interim Ex-officio Conservator of
The Premier Life and General Assurance Corporation.

Concerned planholders, creditors, and interested parties are advised to address their
claims and concerns to the Interim Ex-officio Conservator, Atty. Jay A. Ramirez at CRL
Division of the Insurance Commission at 1071 United Nations Avenue, Manila with email
address crl@insurance.gov.ph or the Office of the Conservator at Travellers Life Building,
490 T.M. Kalaw Street, Ermita, Manila.

For information and guidance.

CERTIFIED TRUE COpy

\
Head Office. P.O. Box 3589 Manila I Trunk Line: +(632) 8523-8461 to 70 I Fax No: +(632) 8522·1434 I www.insurance.gov.ph
 Republic of the Philippines
Departmentof Finance
INSURANCE COMMISSION
1071 United Nations Avenue
Manila

03 June 2024

ATTY. JAY A. RAMIREZ

Attorney I
Conservatorship, Receivership
and Liquidation Division
Insurance Commission

SUBJECT: Designation as Interim Ex-Officio Conservator of The

Premier Life and General Assurance Corporation

Dear Atty. Ramirez:

Pursuant to Section 255 of Republic Act (R.A.) No. 10607, otherwise known as the
Amended Insurance Code, you are hereby appointed as Interim Ex-Officio
Conservator of The Premier Life and General Assurance Corporation.

As Conservator. you are hereby mandated to immediately take charge of the

company's assets, liabilities and management, collect all moneys and debts due it and
exercise all the powers necessary to protect its stakeholders.

You are likewise required to ensure that the company will submit on schedule all
financial, audit, accomplishment and other reports required by the Conservatorship,
Receivership and Liquidation (CRL) Division and the Commission.

Be advised further that all disbursements to be made during the period of receivership
are subject to the usual process of the CRL Division.

TRUE COpy

Head Office, P.O. Box 3589 Manila I Trunk Line: +(632) 8523·8461 to 70 I Fax No: +(632) 8522-1434 I www.insurance.gov.ph