THE Insurance Commission recently endorsed to the Securities and Exchange Commission the application for an increase in authorized capital stock of Eternal Plans, Inc. (EPI), from 250 Million to 500 Million peso.

The endorsement came after Insurance Commissioner Dennis B. Funa approved the recommendation of Atty. John A. Apatan, ex-officio conservator, to increase the pre-need company’s authorized capital stock in preparation for the implementation of the rehabilitation program, if found in order. “This is an important step towards EPI’s recovery, and one of the elements of the proposed rehabilitation plan,” Atty. Apatan said.

EPI president and chief operating officer Elmer M. Loricasaid that raising capital during this tough economic time is a challenge. “Rest assured we will infuse the required capital and remain cooperative with the Insurance Commission for the peace of mind of our planholders. This has always been our commitment,” he said.

Lorica believes that with the supervision of the Insurance Commission, under the leadership of Atty. Dennis B. Funa, Eternal Plans will come out a stronger company. Likewise, he also conveyed his recognition for the appointed conservator’s objectivity and broadmindedness.

Now on its 41st year, Lorica said Eternal Plans “is moving forward, and remains committed to serve its planholders”.