Pre-Need Companies Under Insurance Commission Conservatorship as of Feb 2012

Finally, the Insurance Commission (IC) released on its website a list of the failed pre-need companies under its conservatorship following the transfer of these companies from the Securities and Exchange Commission (SEC) to the IC.

Here are the pre-need companies placed under IC conservatorship in 2010 and 2011. Almost all companies were placed under conservatorship in the last quarter of 2010. The two firms placed under conservatorship in the last quarter of 2011 were Comprehensive Annuity Plans & Pensions Corp. and Pension & Retirement Plan Corp.

Alphabetical list of 31 pre-need companies under conservatorship by the Insurance Commission as of February 2012:

1. Capitol Plans Inc.
2. Celestial Memorial Life Plans Inc.
3. Classic Plans Inc.
4. Comprehensive Annuity Plans & Pensions Corp.
5. Danvil Plans Inc.
6. East Asia Plans Inc
7. Eduplan Phils. Inc.
8. Excel Memorial Life Plans Inc.
9. Familicare Plans Inc
10. First Interstate Multiplex Pension Plans Inc.
11. Garden of Memories Memorial Park & Chapel Inc.
       (Servicing company)
12. Gillamac Life & Pension Plans Inc.
13. Global Family Protection Plans Phils. Inc.
14. Grayline Plans Inc.
15. Group Developers Inc.
16. Holy Life Plan Inc.
17. Ideal Pension Plans Corporation
18. Pamana Inc.
19. Pension & Retirement Plan Corp
20. Phil Asia Care Plans Inc.
21. Premiere Memorial Plans Inc.
22. Primanila Plans Inc. (Pension)
23. Primeplan International Corp.
24. Prudentialife Plans Inc.
25. Pryce Plans Inc.
26. Redeemer Life Plan Inc.
27. Rhine Plans Corp.
28. Samson Memorial Plan Inc.
       (Servicing company)
29. Savior Life Plan Inc.
30. Special Plans Inc.
31. Supreme Educational Plan Inc.

Note: Ideal Pension Plans Corporation filed for Voluntary Insolvency or Liquidation before the RTC, Makati City, Branch 66 (SP. PROC. No. M-6946)