SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER

1. For the quarterly period ended

Mar 31, 2015

2. SEC Identification Number

80118

3. BIR Tax Identification No.

000480869

4. Exact name of issuer as specified in its charter

NATIONAL REINSURANCE CORPORATION OF THE PHILIPPINES

5. Province, country or other jurisdiction of incorporation or organization

Metro Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

31st Floor, Ayala Life-FGU Center, 6811 Ayala Avenue, Makati City Postal Code 1227

8. Issuer's telephone number, including area code

(632) 988-7400

9. Former name or former address, and former fiscal year, if changed since last report

N.A.

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES	2,123,605,600

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

Philippine Stock Exchange

12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

(b) has been subject to such filing requirements for the past ninety (90) days

Yes

No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

National Reinsurance Corporation of the PhilippinesNRCP

PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Mar 31, 2015
Currency (indicate units, if applicable)	Php

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Mar 31, 2015	Dec 31, 2014
Current Assets	12,279,330,913	12,491,791,883
Total Assets	12,841,357,669	13,103,965,151
Current Liabilities	6,728,890,713	7,126,425,326
Total Liabilities	7,100,500,278	7,549,048,513
Retained Earnings/(Deficit)	286,017,260	197,783,274
Stockholders' Equity	5,740,857,391	5,554,916,638
Stockholders' Equity - Parent	-	-
Book Value per Share	2.7	2.62

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Operating Revenue	197,515,908	223,013,023	197,515,908	223,013,023
Other Revenue	111,423,265	93,153,149	111,423,265	93,153,149
Gross Revenue	308,939,173	316,166,172	308,939,173	316,166,172
Operating Expense	150,521,918	260,566,667	150,521,918	260,566,667
Other Expense	57,927,382	51,167,200	57,927,382	51,167,200
Gross Expense	208,449,300	311,733,867	208,449,300	311,733,867
Net Income/(Loss) Before Tax	100,489,873	4,432,305	100,489,873	4,432,305
Income Tax Expense	12,255,888	12,700,606	12,255,888	12,700,606
Net Income/(Loss) After Tax	88,233,985	-8,268,301	88,233,985	-8,268,301
Net Income Attributable to Parent Equity Holder	-	-	-	-
Earnings/(Loss) Per Share (Basic)	0.04	-0	0.04	-0
Earnings/(Loss) Per Share (Diluted)	-	-	-	-

Other Relevant Information
Please refer to the attached SEC Form 17Q