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December 28, 2005
Cocoplans Inc.’s life policies get regulatory approval
The Securities and Exchange Commission (SEC) recently approved the initial registration and licensing of Cocoplans Inc. fixed-value life plans. Besides belonging to the United Coconut Planters Bank (UCPB) group, the firm’s trust fund is managed by the bank.
The approved life plans, worth P200 million, will be for the company’s eight fixed-value life plan products, Optimax 0 to 7.
As of April, the company has a total of P2.15 billion and P850-million worth of registered and licensed pension and fixed value educational plans, respectively.
Meanwhile, in October, Cocoplans Inc. has remaining securities available for sale for pension and education plans amounting to P123.83 million and P50.50 million, respectively.
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