Corporate History

Timeline of Our Company's Previous Milestones

The Corporation was organized and registered with the Securities and Exchange Commission as "First Pan Asiatic Insurance Corporation"; Professor Lope Leonio was appointed as the first President.
A group of businessmen-bankers led by Messrs. Willy S. Co, Ramon L. Siy and Philip T. Ang acquired the holdings of Professor Lope Leonio and his family; The new corporate name "Investors Assurance Corporation" was adapted and registered with the Securities and Exchange Commission; Mr. Willie Co was appointed as Chairman of the Board while Mr. Ramon Siy and Mr. Henry Co Chen as President and Executive Vice President respectively.
The company settled a total loss claim filed by Imperial Textile Mile in the amount of Php 170 million.
After the destructive 16 July 1990 earthquake which caused the sensational collapse of the two-storey Hyatt Terraces Plaza in Baguio and killed about 50 people, the company immediately compensated numerous victims with the support of its European reinsurer.
In order to avoid payment for the settlement of various claims, a lead reinsurer in London filed a claim against IAC to nullify the reinsurance contract executed between them; In response, IAC immediately appointed a solicitor to pursue its claim and defend its rights in the Court of England.
The European re-insurer offered a compromise settlement and paid IAC a sum of Php 100 million.
IAC settled two major fire claims amounting to Php 20 million (filed by a Persian Carpet Dealer) and Php 15 million (filed by a Textile Mill in Montalban) respectively; IAC became the first non-life insurance company to launch the Bankers Guarantee Package which covers deposit, theft, armored vehicle insurance, fidelity, robbery and personal accident insurance for bank messengers. The "Fast-Track Claims Service Scheme" was introduced to provide excellent service to the company's most valued clients.
IAC launched the Power Shield Insurance, a 6-in-1 package with Php 100,000.00 liability covering fire, personal accident, loss of rent, legal liability and hospitalization. IAC also launched the Professional Armor Insurance, a 3-in-1 package for medical practitioners covering fire for medical equipment and offices, personal accident for medical practitioners, and professional liability.
IAC has already established 18 service offices nationwide including Baguio, Cebu, Davao, Cotabato, Zamboanga and General Santos City. In the same year, IAC, in coordination with the Philippine Overseas and Employment Agency (POEA) and Filipino Association for Mariners’ Employment, Inc. (FAME, Inc.) opened its services to Overseas Filipino Workers (OFWs) by launching the Paglingap ng Bayan Para sa OFW, a package which includes personal accident, repatriation bond and performance bond for OFWs. In support of the "Liga ng mga Barangay" Organization, IAC also instigated its "Kaakbay Program" which provides personal accident coverage to all barangay captains as well as health care to all barangay members and fire shield for all barangay centers.
IAC actively participated in the Liga ng mga Barangay Conference held at the Manila Hotel on March 14-16 which was attended by more than 1,500 barangays nationwide.
IAC introduced its Business Development Operations and has already established a total of 34 Business Development Offices all over the country.
IAC had a soft opening of its new service office in FUCB Escolta, Manila (just a few blocks away from its old office in Philflex Building).
IAC held the formal launching of its Farmer's Guaranty Package Plan, the country's first 3-in-1 insurance package covering default insurance, fire insurance and personal accident insurance for farmers. To mark the event, the company invited members of farmers' cooperatives, banks and financing institutions, and its insurance agents in a conference held at the Ballroom of the Grand Men Seng Hotel in Davao City.
IAC appointed its new President in the person of Atty. Noel A. Beltran, a cum-laude graduate of the University of the Philippines' College of Law. Prior to his appointment as the President of Investors Assurance Corporation, Mr. Beltran practiced corporate law and worked as a legal associate for the Picazo, Tan and Fider Law Offices.

On February 25 of the same year, the company's Administrative Order No. 280 was signed and released by the Office of the President of the Republic of the Philippines authorizing Investors Assurance Corporation to become a Surety. This gave the company an additional avenue for growth by providing an opportunity to operate on a full service capacity on surety lines, both civil and criminal.

In preparation for its full service operations for the surety line of business, Investors Assurance Corporation initiated an on-going massive recruitment program to augment its marketing and administrative support arm. In consonance with this, the company is now in the process of finalizing a new incentive program that will be offered to its marketing and sales associates. Simultaneously, the company is in the process of enhancing its computer and networking systems in preparation for the automation of its operations.
To accommodate its expansion program, the company opened its Makati office located at the 20th Floor of the Banco de Oro Plaza along Paseo de Roxas Avenue (near corner Makati Avenue), Brgy. Bel-Air, Makati City, while still maintaining an office in the Ortigas Business Center, Pasig City, among its other service offices across the country.
To keep up with digital times, the Company launched its official Facebook page, which the Company intends to utilize not only to introduce or highlight each of the Company's available products and services, but as well as to inform the public regarding the different coverages and benefits of insurance, aside from providing other important announcements and general interest write-ups, announcements, and information.
In spite of the continued reduction of the number of operational companies in the non-life sector of the non-life insurance industry, the Company boasts to have been issued its license to operate by the Insurance Commission, covering the period July 2016 up to June 2018, as confirmed by the Insurance Commission thru its list of Insurance Companies whose Certificates of Authority were renewed for license year 2016 - 2018 as of June 29, 2017, which was disseminated by the PIRA Secretariat, Manuelito Nigos last July 27, 2017."
For the lapsed half of the year 2017, IAC boasts to have already undertaken several important preliminary organizational changes, in addition to launching a number of new IT-related projects, both aligned to the Company's mission of providing value-added products and services to its customers, both thru 1) effective human resource management and continued organizational development, and 2) constant introduction of various innovations in its technological resources and facilities, which to date, are still continually being attended to by a number of the head office's most competent human resources, and include the following --


20th Floor, BDO Plaza, Paseo de Roxas Avenue near corner Makati Avenue, Barangay Bel-Air, Makati City, Philippines 1200
Trunk Lines: (+632) 822.4000, 822.5000
Mobile Lines: (+63917) 821.8254 [Globe], (+63998) 962.0815 [Smart]
Facsimile: (+632) 891.1200