Fortune General Insurance posts 7.14% gross premium growth in 2016By Joann Santiago
MANILA, Feb. 24 (PNA) -- Fortune General Insurance (FGen) posted a record high of Php 600 million gross premiums in 2016, up 7.14 percent from Php 566 million the previous year.
"We dedicate this performance to the memory of our late founder and former chairman, Ambassador Antonio Cabangon Chua, who never failed to inspire our people to expand our reach and continue improving," FGen President and COO Michael F. Rellosa said.
Last year, FGen shareholders increased the company's capital through the issuance of Php 60 million-worth of fresh equity, allowing the entity to surpass the new minimum capital requirement of Php 550 million.
Cabangon Chua died in March 2016 and Rellosa said FGen's new leaders continued the goals set by the company's founder.
"Our present Chairman, Mr. Jesus Antonio Cabangon Jr., is continuing our founder's legacy and is pushing us to innovate, embrace disruption and make our systems customer-centric," Rellosa said.
Rellosa said they were set to launch a campaign dubbed "FGEn4NxtGen" targeted for millenials who account for majority of the country's population.
"We would like to help these young people manage their risks and protect their hard-earned assets through insurance," he added. (PNA)
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