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Malayan Group of Insurance Companies renew IC's Certificates of Authority

by Admin | 25 January 2016

Malayan Insurance Company (MICO), the country’s leading non-life insurer, Bancassurer First Nationwide Assurance Corporation (FNAC), and Bankers Assurance Corporation (BAC), the micro-insurance provider of the Malayan Group, recently renewed their Certificates of Authority from the Insurance Commission (IC). The certificates validate the reliability and stability of the companies as they provide world class non-life insurance products to businesses, families, and individuals for more than eight decades. The renewal of the certificates guarantee that the Malayan Group member companies comply with the IC's quality requirements such as the capacity to exceed the minimum capitalization and net worth, which are indicators of solid fiscal standing and capability to meet their obligations to policyholders. Shown in photo are (from left to right): Atty. Joanne Frances D.C. Castro of IC’s Regulation Division, Bankers Assurance Corporation President Mr. Joselito C. Bantayan, Insurance Commissioner Emmanuel F. Dooc, Malayan Insurance President Ms. Yvonne S. Yuchengco, First Nationwide Assurance Corporation President Mr. Antonio M. Rubin, and IC Licensing Division Chief Atty. Jose Mari F. Tolentino.

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