PGA SOMPO JAPAN INSURANCE INC. began its operations in 1991 and was originally known as PGA YASUDA INSURANCE COMPANY INC., a landmark joint venture undertaking of two respected and prominent industry leaders. Mr. Robert Coyuito, Jr., Chairman and Chief Executive Officer of Prudential Guarantee represents the Philippine counterpart and a century old world renowned Japanese insurance company, SOMPO JAPAN INSURANCE INC., a distinguished stalwart in the international insurance industry as its formidable partner.
SOMPO JAPAN INSURANCE INC. assumed its new corporate identity in July of 2002 as it merged with The Nissan Fire and Marine Insurance Company in Japan. This highly esteemed corporation of integrity traces its unparalleled century old history dating back to October 1, 1888 and now the epitome of a new era worldwide enterprise focused on progressive strategies aimed at achieving its corporate vision as a Comprehensive Service Provider Group for Risk and Asset Management.
The stately elegant Headquarters is located in Shinjuku, Tokyo. Sompo Japan Insurance Tokyo aspires to establish an even greater presence in the business environment in recognizing opportunities affecting global economies by taking operations transcending the traditional scope of non-life insurance business. The company maintains a global network where their presence in 41 cities in 26 countries is capably manned by highly skilled representative providing the services required to achieve the current growth challenges as envisioned in their corporate philosophy. These geographic locations include East Asia, South Asia and Australasia, Europe, North and South America.
Resilience amplified by its high reputation of sound and effective management achieved operational excellence resulting to an awesome Underwriting Profit JY 1.8 Trillion Yen or US$ 15.3 Billion Dollars. More importantly, SOMPO JAPAN INSURANCE has ensured the enforcement of a sound Corporate Governance system and adopted advanced approaches in implementing its Corporate Social Responsibility particularly to social and environmental issues. SOMPO JAPAN INSURANCE TOKYO definitely provides the strength and guidance in the positive growth and development of PGA SOMPO JAPAN INSURANCE whose relative infancy in the industry is achieving its goals as targeted.
PGA SOMPO JAPAN INSURANCE achieved impressive results for 2006 and registered a 69.55% increase in Gross Premiums Written which posted an all time high at Php 502,667,668. Improved profitability results were positive developments as management focused on the implementation of structural rate reforms to meet the tough Underwriting restrictions which were met with domestic market resistance. PGA SOMPO JAPAN has continued to capture opportunities to optimize our organic growth. We have strengthened our alliance portfolio with Prudential Guarantee and Sompo Japan Insurance Tokyo to meet our targets. We attribute our key factors of this impressive performance to the continued disciplined Underwriting Management and emphasized Risk Management based measures to accessed information to provide clients’ value added services.
PRUDENTIAL GUARANTEE, a distinguished market leader in the Philippines provides the competencies as well as the consistent support in accelerating the growth and development of PGA SOMPO JAPAN INSURANCE. The company’s market position has progressively improved and the active synergy programme initiated by PRUDENTIAL GUARANTEE particularly in the personal lines, have provided a unique approach to marketing these products effectively. Success in the marketing front with these aligned strategies will definitely be a new phase in achieving its growth potentials. Despite the challenges of competition PRUDENTIAL GUARANTEE shines as the forerunner of innovative product development in the country that has set the trend in the industry as the premier phenomenal market strategist.
With the combined strong commitment of both mother companies, PGA SOMPO JAPAN INSURANCE stands to meet the challenge of tomorrow.
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