Loyola ordered to stop selling new planshome/News/Top Stories/Loyola ordered to stop selling new plansThe Insurance Commission (IC) has stopped Loyola Plans Consolidated Inc. from selling new plans after the pre-need company was placed under conservatorship. Funa also revealed that Loyola Plans has yet to submit its 2017 and 2018 annual financial statements. He noted that Loyola Plans should continue to pay its existing obligations and service its clients. According to IC data, Loyola Plans has sold 343 life plans as of end-2016. Loyola Plans, founded by the late Sen.Gil Puyat Sr. and later on managed by his daughter, the late Jesusa Puyat-Concepcion, offers education, life and pension plans.

Source: Manila Times July 28, 2019 16:18 UTC