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FORTUNE
General Insurance Corp. (FGIC) ranks today as the 16th
top nonlife insurer in the
Philippines
and is certain to hurdle the tight economic situation
facing the country, Deputy Commissioner Vida T. Chiong
of the Insurance Commission said Friday.
Speaking
at the Annual Awards Night in honor of Fortune General’s
top sales producers, Chiong said the current financial
environment marked by “high prices of rice, food and
fuel” is a challenge that the company’s sales people are
sure to surmount to keep the company at rank 16th out of
80 Philippine nonlife insurance companies.
“The
challenges we face as a nation should not be seen as a
deterrent to remain strong and stable,” Chiong said,
adding that “this is the conviction that Fortune
General’s sales people should transfer to their
clients.”
She said
“strong and steady” best describes the FGIC and told the
top agents, “I can assure you your company is
financially stable.”
The
insurance industry has been closely watched by
regulators the past three years, with drastic new
requirements sometimes seen to pose a challenge to the
bottomline of some companies. With the current economic
crunch, insurance companies must find ways to meet the
challenge posed by a situation where people would give a
low priority to saving some money for insurance
premiums, Chiong said.
A total
of 44 top qualifiers in the company’s year-round sales
campaigns in 2007 were honored at the traditional
awards-giving of the company, led by Inocencia J.
Lagadon of GIF Insurance Agency, Cristino Tan of the
Binondo branch and Danilo R. Medina of Head Office.
J.
Antonio A. Cabangon Jr., Fortune General’s chairman and
chief executive officer, led officials who welcomed
members of the sales force and guests during the affair,
including Leonora B. Zafra, executive vice president and
chief finance officer, and Michael F. Rellosa, president
and chief operating officer.
Fortune
General is a member of the Fortune Insurance Group
headed by Ambassador Antonio L. Cabangon Chua, chairman
emeritus and founder. Fortune Life Insurance Co. and
Fortune Medicare Inc., a health management organization
(HMO) are the other members of the conglomerate.
Fortune
General Insurance has 30 full-service branches scattered
all over the country’s key cities and provinces. Its
total portfolio is evenly balanced among its basic
coverage of motor car, fire and accident insurance,
while marine, surety bond and miscellaneous-insurance
accounts contribute hefty shares. |
