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

Jun 30, 2014

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

18th Floor, Philippine AXA Life Center, Sen. Gil Puyat Avenue corner Tindalo Street, Makati City

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	Jun 30, 2014
Currency (indicate units, if applicable)	Php

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Jun 30, 2014	Dec 31, 2013
Current Assets	12,912,532,970	13,864,912,717
Total Assets	13,703,190,970	14,601,732,960
Current Liabilities	7,334,825,071	8,347,812,173
Total Liabilities	7,962,056,643	8,913,293,112
Retained Earnings/(Deficit)	467,812,885	484,672,871
Stockholders' Equity	5,741,134,327	5,688,439,848
Stockholders' Equity - Parent	-	-
Book Value per Share	2.7	2.68

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Operating Revenue	129,546,956	199,111,701	352,559,978	418,958,851
Other Revenue	119,387,544	198,596,128	212,540,693	456,803,705
Gross Revenue	248,934,500	397,707,829	565,100,671	875,762,556
Operating Expense	198,931,072	277,003,498	459,497,739	442,509,722
Other Expense	46,604,457	50,371,293	97,771,657	123,677,793
Gross Expense	245,535,529	327,374,791	557,269,396	566,187,515
Net Income/(Loss) Before Tax	3,398,971	70,333,038	7,831,275	309,575,041
Income Tax Expense	11,990,655	14,160,410	24,691,261	29,946,085
Net Income/(Loss) After Tax	(8,591,684)	56,172,628	(16,859,986)	279,628,956
Net Income Attributable to Parent Equity Holder	-	-	-	-
Earnings/(Loss) Per Share (Basic)	(0.00	0.03	(.01	0.13
Earnings/(Loss) Per Share (Diluted)	-	-	-	-

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