FORTUNE GENERAL INSURANCE CORPORATION is a non-life insurance company with more than half a century of experience. We exist to provide effective and innovative risk transfer tools and cost-effective products. We commit to excellence through the best practices of an insurance company. We want to serve as a role model in the industry as we strive to achieve and sustain the social and economic advantages of our clients, intermediaries, personnel and shareholders. We want to become and remain your insurer of choice.
We believe that we must act professionally at all times, which is the least that our customers and the people that we deal with, in the course of carrying out our duties can expect. To be professional means to act in accordance with generally accepted norms and to carry out our duties conscientiously.
We must be aware of our responsibility to our clients and to the office we occupy; giving it at all times nothing less than what can be expected from us. To be responsible means to be sensible, trustworthy and accountable for ones actions.
Our customers purchase our services because they expect a certain degree of expertise and the wherewithal to carry it out. Competency assumes skill, knowledge and the authority to carry these out for the greater good of our stakeholders.
We must be devoted to our profession, our work, our tasks and our customers. These are the reasons we are employed and it is because of these that we are able to sustain our families and ourselves.
PROMPTNESS AND A SENSE OF URGENCY
In the current knowledge (New) Economy, where speed is of the utmost importance, and where time is equated to money and lost opportunities, we must cultivate and nurture a sense of urgency where our day-to-day tasks are accomplished with speed and dispatch. It is our duty to accomplish what we can reasonably do today.
we have been there when our clients need us most ... for the past 62 years.
Fortune General Insurance Corporation was born on June 13, 1955 with the establishment of Mutual Security Insurance Corporation. Thirty one years later, in November 1986, the ALC Group of Companies headed by Ambassador Antonio Cabangon-Chua, acquired the majority share of the company and changed its name to Fortune Guarantee and Insurance Corporation.
The ALC Group also owned another non-life insurance company known as Citystate Insurance Corporation. It was a partnership with British, then Singaporean and American partners, notable of which were the Leow family and their Citystate Group, and Liberty International of the US (a Fortune 500 Company). It was in 2002 that Ambassador Cabangon-Chua bought the majority share in Citystate Insurance and had control of two non-life insurance companies. He then merged the company into one.
On July 10, 2003, the Securities and Exchange Commission gave its approval for the merger, with Fortune Guarantee as the surviving entity. The merger resulted in a company with P200 million in paid-up capital, over P500 million in assets and expected Gross Premium Written of P450 million by end 2007.
To complete the transition, Fortune Guarantee and Insurance Corporation re-branded itself in 2004 into Fortune General Insurance Corporation.
We continue to stand by our commitment to continue being the insurer of choice.
To adopt standards of work and service that are exceptionally good – a cut above the rest and our distinguishing factor!
To have the enthusiasm, drive and passion to see our corporate mission and vision turned into reality through strategies created and pursued with persistence and determination. The Entrepreneur takes on the responsibility to cause a vision to become a success. Entrepreneurs take prudent risks. They assess costs, market/customers needs and persuade others to join and help. An entrepreneur is a positive thinker and a decision maker.