Prudential Guarantee and Assurance Inc. (PGA) will soon issue file a formal complaint against a foreign insurance and risk management firm that it has accused of operating illegally in the country, regulators said. AdvertisementsInsurance Commissioner Dennis Funa said the non-life insurer had told the agency that it would comply with the requirement to formalize its earlier complaint against Marsh UK, a former reinsurance broker for Prudential Guarantee. But they have not filed their formal complaint yet. The Insurance Commission (IC) has said that it could conduct an investigation in the absence of a verified complaint. “In a letter dated 03 April 2017, PGA’s counsel requested the Insurance Commission to conduct an investigation on the manner by which Marsh UK and Marsh Singapore conduct business in the Philippines,” Funa noted.

Source: Manila Times October 27, 2017 18:00 UTC