Establishment -
The INSURANCE OF THE PHILIPPINE ISLANDS COMPANY, INC. is a stock insurance corporation duly registered with the Securities and Exchange Commission on July 27, 1964, and licensed by the Insurance Commission on September 21 of the same year to engage in the business and operation of all kinds of non-life insurance and reinsurance.
On August 14, 1992, the company was renamed from the Pyramid Insurance Company, Inc. to the INSURANCE OF THE PHILIPPINE ISLANDS COMPANY, INC. duly endorsed by the Insurance Commission on October 21, 1992, and approved by the SEC on the same date per SEC Registration No. 25495.
Services - The Company has been in the business for 43 years specializing in Fire and Allied Lines, Marine, Aviation, Personal Accident, Motor Car, Bonds, and different Industrial and Engineering Risks and Reinsurance. Through the years, its cornerstone reputably stands with the basic principle of alleviating the suffering of the insured persons or entities from the consequences of damages and/or losses through its guaranteed speedy claims settlement program. Likewise, the Company has eminently demonstrated its superb clientele servicing through its competent underwriting facilities and immediate issuance of policies.
Capital -
With a modest initial investment of P250,000.00, it has grown through the years by faithfully complying with the statutory provision of the Insurance Act. The Company’s Total Net Worth as of December 31, 2005 stands at P159,607,474.00 with a paid up capital of P50,000,000.00.
Accreditation - The Company is accredited by many government and private institutions to service their different insurance and reinsurance needs; among them are the San Miguel Corporation (SMC), Subic Bay Metropolitan Authority, National Power Corporation (NAPOCOR), Government Service Insurance System (GSIS), Department of Trade & Industry (DTI), Bank of Commerce, United Coconut Planters Bank (UCPB), Philippine Accident Managers, Inc. (PAMI) Philippine Bank of Communication, Security Bank, Standard Chartered Bank and other banking and financial institutions. [Learn More.] |
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