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AM Best cited Malayan Insurance's better financial capability

July 3, 2020

MANILA, Philippines - a GLOBAL insurance ratings firm has cited the strong and better financial capability as well as the outstanding credit rating of Malayan Insurance for this year. The Yuchengco-led firm said that AM Best retained Malayan's financial capability and strength to "B++" which means good - and also cited the company's long-term issuer credit rating of "bbb+, which also reflects Malayan's strength amid the world's covid-19 pandemic which has hampered and crippled the country's economy. AM Best said “The ratings reflect Malayan Insurance’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. Meanwhile, Malayan Insurance also said AM best noticed the insurer's strong risk-adjusted capitalization, including its support from highly rated reinsurance partners. “Malayan Insurance is the only non-life insurer in the country rated by AM Best, standing as a testament to both the company’s strength, as well as its dedication to provide world-class protection to its wide customer base,” a top executive of Malayan Insuranc said. Foundation Malayan Insurance was founded in 1939 and a proud member of the Yuchengco Group of Comanies (YGC), one of the biggest, largest conglomerates in the country. Today, Malayan Insurance celebrates its 90th year in the country's non-life insurance industry. The Insurance Commission, in its data, cited Malayan Insurance as ranked first especially in non-life insurance and in terms of gross premium writtenm (GPW). In fact, in 2019, Malayan Insurance revealed a P12.25 billion in GPW.

Misor prov'l gov't stunned as court issues TRO against 2020 budget

July 2, 2020

VIRTUALLY all operations of the provincial government of Misamis Oriental that involve the release of money from the provincial coffers will cease to function until July 19.   This after a regional trial court here issued a temporary restraining order barring the Capitol from disbursing out of the 2020 provincial budget effective June 29 until that day.   The order - which the Capitol made public Thursday afternoon via a press conference - was signed by RTC 10 Branch 23 Judge Vincent Rosales for failure by the provincial government to post the contents of the appropriations ordinance in conspicuous places.   The order stemmed from a petition filed June 26 by Vice Gov. Jeremy Jonahmar Pelaez and two provincial board members - Jerry Khu and Josephine Mugot.   Aside from the P3.85 billion annual budget, also affected were the two supplemental budgets that were approved earlier this year.   In the press conference, Gov. Yevgeny Vincente Emano said that the operation that stands the most affected will be the COVID-19 response of the province.   Under the current setup, returning overseas Filipinos and individuals stranded elsewhere will be fetched by the Capitol at the Laguindingan and Magsaysay entry points and conduct rapid tests for them before being whisked off to their respective city and municipal isolation units.   Emano said Capitol will have to do away with all of that temporarily and will have to delegate the catering of all arrivals at the local government unit (LGU) level.   But at the same time, the governor assured local chief executives that the Capitol is on hand to provide them technical advice which does not constitute the release of additional funds.   Also affected are the daily rations of police officers manning checkpoints at the two land entry points of the province - Magsaysay and Lugait towns.   And more importantly, the construction of the 50-bed isolation center of the province at Alubijid town will be halted.   Beyond the COVID-19 responses, other services which will temporarily cease are the daily rations for the more than 600 inmates at the Misamis Oriental provincial jail; the day-to-day welfare aid being disbursed by the Provincial Social Welfare and Development Office; the day-to-day operations of the eight Misamis Oriental Provincial Hospital; the funds used to purchase feeds for ducklings and tilapia fingerlings bred by the Provincial Veterinary Office; and more.   By Thursday evening, the governor has signed a memorandum barring his department heads to disburse funds before July 19.   Emano called the petition of the three provincial legislators as a "sadistic" move.   "Dili na kini pamolitika, nakaapekto na kini sa panerbisyo sa katawhan," he said.   The court has set the hearing of the petition of Pelaez et al. to July 16.

Cagayan de Oro's covid-19 cases surge to 42; but latest victims are all LSI, ROFs

July 1, 2020

CAGAYAN DE ORO CITY - The total number of residents in this city infected and found positive of the deadly coronavirus disease are now 42, the latest of which are from Barangays Kauswagan, Macabalan and Balulang, the City Government reported today. City Epidemiologist Joselito Retuya confirmed during a press briefing today that the latest victims of the virus are two Locally Stranded Individuals (LSIs) and one Returning Overseas Filipino (ROF). Retuya said the #40 confirmed covid-19 case was resident of Barangay Kauswagan. He returned to this city on June 2 and was swabbed on June 15th. On June 29th he was confirmed positive by the final test result conducted. The 41st confirmed case was a 20-year-old male resident from Barangay Tablon. He was swabbed on June 29th and his result also confirmed him positive. He is now quarantined at the city isolation unit. The 42nd covid-19 victim was a male resident of Barangay Macabalan and he was a Locally-Stranded Individual (LSI) He was swabbed June 17 and confirmed positive on June 30. Yesterday, seven LSIs and ROFs were also recorded in Cagayan de Oro by the City Health Department. Retuya said all of the 10 latest covid-19 positive cases are now quarantined at the City Isolation Units in different areas in Cagayan de Oro. Retuya said there's nothing to be afraid off with these new victims of the deadly coronavirus as they have not returned home yet since their arrival in the city. They are all immediately transported to the city isolation units after they arrived at the airport in Laguindingan, Misamis Oriental.  

Cebu City registers 4,962 coronavirus disease positive, says health department

June 29, 2020

CEBU CITY - (MDN Visayas News) - The City Health Department in Cebu City has confirmed to the media the other day that the total number of residents who became covid-19 positive numbered to 4,962, including the latest 131 new cases as of June 28, 2020.  Included in the figures, the CHD said, are 131 new cases as of June 28, 2020. The death toll in the city also increased to 156 with the addition of six more deaths of covid19 victims with existing co-morbidities. The latest confirmed cases recorded on Sunday, June 28, were from Barangays Duljo Fatima and Mambaling. They had earlier died on May 16 and 27 but test results only arrived this week confirming them positive of the deadly virus.  The Health Department told the media, “As per protocol, COVID-related deaths are placed on the official list as soon as a death certificate is duly issued. It will be prudent on the part of the government to base its reporting on official documents.”  Meanwhile, among the latest fatalities in Cebu City include City Councilor Antonio Cuenco who died last Saturday (June 27) at the age of 84.   Thru an official statement from the family, they have confirmed the passing of the councilor on Saturday evening. The family in a statement said: “My family and I wish to let you know that my father, Councilor and former Congressman Antonio Veloso Cuenco, has succumbed to the lethal effects of the COVID19 virus,” his son James Cueno said in the statement.” It happened so fast and has left us very shocked to realize that the good man that we have had the opportunity to have as our father (with my siblings Ronald, Antonio Jr and Cynthia) and a good husband to my mother, Nancy, is gone.” The family statement said that prior to the death of the councilor, he has experienced fever and mild cough, in which the family decided to have him checked and tested for the deadly coronavirus disease last June 18.  The city councilor's last session attended was on June 25 via Zoom.

Cagayan de Oro registers 29th case of coronavirus positive

June 28, 2020

CAGAYAN DE ORO CITY NEWS - The City of Cagayan de Oro has registered its 29th positive case of the deadly coronavirus disease, the City Health Department reported during a press briefing regularly held at City Hall. City Epidemiologist Joselito Retuya has confirmed during a press conference that the 29th case was again a Locally-Stranded Individual from Manila (LSI), one of the top cities in the country strongly hit by the onslaught of the deadly covid-19 pandemic. Manila, according to records from the Health Department has a total of over 2,000 positive cases, with 629 recoveries and 120 deaths. Retuya said the 29th case in Cagayan de Oro was a 22-year-old female resident of the numbered barangay in the city. She arrived in Laguindingan International Airport on June 16, around 7:00 in the morning. She was immediately brought to the city's isolation area and was swabbed on June 23. The test result came out on June 26 and the woman was found positive of the deadly virus. Retuya added the female covid-19 victim is now transferred to the temporary treatment and monitoring facility for close monitoring in close coordination with the Department of Health. The team of the so-called 'Retuya's Army' are now dispatched to conduct contract tracing to her co-passengers who might also be infected by the virus.  

536 OFWs in Middle East, Africa die of the deadly coronavirus disease

June 27, 2020

MANILA, Philippines — A total of Five Hundred Thirty-Six overseas Filipino workers (OFWs) in the Middle East Countries and Africa, have died of the deadly coronavirus disease, the Department of Foreign Affairs reported.   In a bulletin Friday issued by the DFA, it reported that there is a continued rise in the cases of Filipinos infected by covid-19, particularly in the Middle East and African countries. The latest are 56 new cases from said region in Asia as well as in the African region. DFA reported that as of today, June 26, there are now a total of 8,417 Filipinos who were confirmed cases of the deadly disease. DFA said out of 8,417 confirmed cases, 5,081 persons have recovered of the virus, while 536 have lost their lives. DFA said at least 2000 persons are still undergoing treatment “Today, the DFA reports that the total number of confirmed COVID-19 cases among Filipinos abroad breached the 8,400 mark with 56 cases mostly in the Middle East and Africa,” DFA said in a statement.


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