Generali Pilipinas Reaffirms Commitment to its Plan Holders

Date: 2/09/09
Refer to: Michael L. Perez, FLMI, ACS
Assistant Vice President
Marketing Department
Tel. No.(632) 886-5258 loc. 280
Mobile: (0917)880-9615
Fax. No. (632) 893-5786
Email: mlperez@generali.com.ph


In view of recent reports regarding the stability of pre-need companies, insurer Generali Pilipinas (GP) reassures the public that GP is not a pre-need company nor involved in the pre-need business. Rather, it is a life and non-life insurance company regulated and supervised by the Insurance Commission (IC).

To further affirm GP’s strength and stability are its reputable shareholders – Assicurazioni Generali of Italy, the world’s second largest insurance company based on Fortune Global 500’s Life and Health (stock), Jerneh Asia Berhad of Malaysia, a specialist insurer in the marine, industrial, and engineering fields, and BDO, the largest bank in the Philippines based on assets and the financial services flagship of the SM Group of Companies.

In 2004, GP ranked 15th and 47th, respectively, among life and non-life insurance companies in the Philippines based on premium ranking by the IC. In 2007, the Company rose to the 7th and 15th slot. “We aim to further improve in our ranking as we move closer to our 10th year,” shared President and CEO Derek Chan.

Mr. Chan also reassures the public that GP’s operations will not be affected by the recent news about the pre-need industry. He said, “This situation will further inspire us to provide you the security and protection you need in line with our ongoing efforts to make GP your preferred one-stop shop for all your insurance needs.”

GP’s products and services include individual life insurance, group life and medical, auto and home insurance, small and medium business protection, as well as commercial property insurance. It has offices in Metro Manila, Bacolod, Baguio, Cebu, Davao and other major cities throughout the country.