Corporate Profile

Corporate Profile

01 WHY FGEN ?

We have been there when our clients need us most…
For the past 63 years.

2

Antonio L. Cabangon-Chua
Ambassador

FORTUNE GENERAL INSURANCE CORPORATION or FGen Insurance is a non-life insurance company with more than half a century of experience in serving the risk management needs of Filipinos.

 

Our company exists to provide effective and innovative risk transfer tools and cost-effective products. We are committed to excellence, and we want to serve as a role model in the industry as we strive and sustain the social and economic advantages of our clients, intermediaries, personnel and shareholders.

 

We want to become and remain the insurer of choice of the new generation.

      We own other business too. So we
understand what businessmen need
and want in their insurance protection     

J. Antonio Cabangon, Jr. – FGen Insurance Chairman

Incorporated in June 13, 1955 as Mutual Security Insurance Corporation, our company was made part of the ALC Group in November 1986. 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 Corportation. It was a venture with British, Singaporean and American partner, 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 brought about a company with P300 million in paid-up control capital, with over P500 million in total assets and which potentially could generate P300 million in Gross Premiums Written.

To complete the transition, Fortune Guarantee & Insurance Corporation re-branded itself in 2004, to what is now known as Fortune General Insurance Corporation.

 

To date, FGen Insurance as it is popularly known, has breached the Billion mark in Total Assets, with Gross Premiums Written of P693.4M as at the close of 2018 and is eminently positioned to serve the needs of the Filipino today. Propelled by disciplined underwriting, company has managed to maintain positive underwriting results over the last four years dating back to 2015 which intends to maintain in the years ahead.

02 OUR VISION

As a company, we at FGen Insurance persevere to continue to exist as an organization for the purpose of realizing our unified aspiration.

Our Purpose

The Trusted Insurer of the Filipino’s Fortune,
championing the intrinsic Filipino value of “malasakit”,
we exist to protect the fruits of the Filipino’s hard work.

03 OUR MISSION

Further, we at FGen Insurance openly assert our commitment to our stakeholders to whom we owe our existence, cognizant that they are the driving forces behind the success of this organization.  The degree of greatness of our results is the reflection of how good we take care of our commitment to our clients, partners and employees, and thus Fortune General Insurance Corporation’s Mission Statements.

Our Commitment to our
Clients, Partners, Employees and Shareholders.

Delivering to the Filipino the most trusted insurance cover
and most reliable service in their time of need.

 

Mutually beneficial partnerships founded on trust and
equity that build long and lasting relationships.

 

Build a working environment that promotes the development,
retention and recognition of a competent
and a highly motivated workforce.

 

Deliver outstanding returns for our shareholder,
continuously in pursuit of new business opportunities
that support sustainable profitability.

04 CORE VALUES

05 OUR TEAM

FORTUNE GENERAL INSURANCE CORPORATION is managed by a team of veteran industry professionals mixed with up-and-coming millennial executives who know your needs and how to meet them.

Board of Directors

J. Antonio A. Cabangon, Jr.
Chairman

Roberto Jose B. Pabalate
Vice-Chairman

D. Alfred A. Cabangon
Director

D. Arnold A. Cabangon
Director

D. Edgard A. Cabangon
Director

Jesus Wilfredo A. Cabangon
Director

Victor B. Abat
Director

Luz N. Cotoco
Director

Herminia S. Jacinto
Director

Redentor D. Magat
Director

Armando S. Malabanan
Director

Manuel M. Maloles
Director

Helena Joy B. Pabalate
Director

Benjamin V. Ramos
Director

Justice Raoul V. Victorino
Director

Atty. Socrates M. Arevalo
Corporate Secretary

Management

J. Antonio A. Cabangon, Jr.
Chairman of the Board

Manuel M. Maloles
President & CEO

D. Alfred A. Cabangon
Treasurer

Aries Julius R. Aquino
SVP, COO & CFO

Redentor D. Magat
SVP for Technical Operations

Edgardo C. Galvez
VP, Surety & Legal

Christopher Y. Marquez
VP, Information & Systems Development

Andy William M. Garcia
SAVP, Reg’l. Head for Head Office & Luzon

Jaime P. Conti, Jr.
AVP, Reg’l. Head for Head Office & NCR

Leonida G. Fajardo
AVP, Claims

Maricar P. Lanon
AVP, Finance & Compliance

Rodereck B. Necesario
AVP, Reg’l. Head for Visayas & Mindanao

06 AFFILIATES