Reinsurers suffered mainly from falling net investment income and a reduction in risk transfer from the non-life sector to the re-insurance sector. The solvency positions of insurers may be broadly measured by the ratio of surplus to net premiums written. As shown in the right-hand chart on slide 9, in the non-life and re-insurance industries, this ratio rose in 2004 from the previous year.
Aside from the economic value as payment for goods and services, coins play a significant role in a nation’s history, often paying homage to Filipinos with outstanding accomplisgments or worthy of emulation, celebrating momentous events, and promoting with pride the country’s historical sites or natural wonders.