National Reinsurance Corporation of the Philippines (NRCP) was incorporated on June 7, 1978 as a domestic professional reinsurance firm to provide life and non-life reinsurance to the Philippine and neighboring insurance markets. On January 15, 2007, it received approval from the Securities and Exchange Commission to do business under the names and styles of Philippine National Reinsurance Company or PhilNaRe to enhance its image as the country's national reinsurer. The primary mandate of NRCP is to assist in the development of the Philippine insurance industry by providing reinsurance capacity and support to Philippine insurance companies, serving as a market vehicle in the regional and international cooperation or arrangement in insurance as well as by contributing towards higher retention of business within the country. The company became a vehicle for the Philippine insurance industry's participation in the Asian Reinsurance Corporation, a multilateral reinsurance entity based in Bangkok, Thailand established to foster regional cooperation among insurance companies doing business in Asia. NRCP writes both life and non-life reinsurance. Major business lines under the non-life segment include fire, marine & aviation, and casualty & others. The company offers reinsurance both on treaty (wholesale) and facultative (retail) arrangements or contracts. Source: SEC Form 17-A (2008)