THE Commission on Audit (CoA) has urged the Civil Aviation Authority of the Philippines (CAAP) to recover P500 million invested with the United Coconut Planter’s Life Assurance Corp. (Cocolife).

Based on CoA’s audit report on CAAP for 2018 and 2017, the aviation agency placed the amount in a Variable Universal Life Insurance (Zenith Plan) with Cocolife on Dec. 14, 2018.

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