PGA Sompo Japan Insurance Inc.
20 Years of Strong Partnership and Service
20, PGA Sompo Japan Insurance Inc. has built a solid reputation as a steadfast and vibrant company known for its constant drive to remain a significant player in the Philippine insurance market by meeting the ever-changing risk landscape with innovative ideas.
The successful partnership that was formally created on July 1991 draws a rich history of two industry leaders: Prudential Guarantee Assurance, Inc. and Sompo Japan Insurance Inc. The partnership became a milestone in the industry as Prudential Guarantee foresaw the easing of borders across continents for more robust business opportunities.
Prudential Guarantee could not have found a more strategic partnership than with Sompo Japan Insurance Inc., a highly respected centuries-old company founded on October 1, 1888. It was originally called the Yasuda Fire and Marine Insurance Company until it merged with two other companies in 2002. Sompo Japan has enjoyed the patronage of customers for more than 120 years since its founding and is the second largest insurance company in Japan. It has an extensive overseas network that includes Asia, Europe, Africa, the Middle East, to South, North, and Central America. Their head office is a landmark at Shinjuku-ku, Tokyo, in Japan’s foremost business hub. Its paid-up capital is US$ 868 million and has increased its capitalization to US$ 1.2 billion. The company’s total assets is US$ 108 billion and has a net worth of US$ 13 billion. It has 18,708 employess with 45,084 Sales Agencies around the globe.
On May 27, 2011, Sompo Japan was selected as one of 2011 World’s Most Ethical Companies, making it the only Japanese financial institution on the list. This is the second time that Sompo Japan was selected for this honor, which was first received in 2009. The “World’s Most Ethical Companies” list has been developed through a survey of a wide range of corporate ethical programs and announced annually by Ethisphere Institute, a U.S. think tank specializing in company ethics and corporate social responsibility (CSR). It was adjudged Green Company of the Year at the 14th Asia Insurance Industry Awards in 2010, a recognition bestowed for their initiatives on sustainable development on climate change as well as adopting innovative approaches to integrate into urban planning, factors to develop low carbon cities of the future.
Prudential Guarantee, an established top leader in the Philippine insurance market, prides itself with being the only insurance company that paid the single biggest aviation claim in Philippine history at Php 7.5 billion for Air Philippines Flight 541.
Besides its impressive business and financial profiles, PGA Sompo Japan also believes in making a difference by taking to heart its corporate social responsibility. This year, PGA Sompo Japan with Sompo Japan Foundation donated to St. Francis School VSA Arts Philippines for its program on early detection of hearing impairment in newborn babies through advanced testing equipment. In May and as part of the program, a Sentiero hearing screening equipment was donated by PGA Sompo Japan to a community- based hospital in Bulacan.
PGA Sompo Japan Insurance Inc. Chairman and CEO Mr. Robert Coyiuto, Jr. notes: “The solid foundation has been built. And as we move and look forward to many more years of success and achievement, our mission is to continue delivering the best services to our international clients, to become an even more dynamic and innovative team so that we may be able to rise above the trials the future will bring.”
PGA Sompo Japan has been one of the first companies where two different companies and cultures have solidly merged its vision of providing the best quality service to its global clients. By promoting excellence and dynamic growth, it is committed to supporting the worldwide call for good governance.
Message from the President (Benigno S. Aquino III, Malacañan Palace)
My warmest greetings to the Prudential Guarantee and Assurance, Inc., and Sompo Japan Insurance, Inc., as you celebrate 20 years of substantial and fruitful partnership. In this length of time you have worked together, you have become a force of growth in our nation not only a source of much needed investments, but also as provider of security to our country’s industries. Guided by the values of excellence and integrity, and driven to maintain steadfast growth, PGA Sompo Japan continues to distinguish itself as one of the leading insurance companies in the country, offering innovative and quality services to your clientele. Rest assured, we will remain supportive of the private sector as proactive players in our mission to bring about a revitalized and progressive Philippines.
In this era of daylight and hope, I ask that you stay with us on the straight and righteous path toward genuine change. Let us demonstrate excellence and commitment in our respective fields so we can realize our true potential as one people.
His Excellency Benigno S. Aquino III
President of the Philippines
Message from the Vice President (Jejomar C. Binay)
Congratulations to the PGA Sompo Japan Insurance Inc. on its 20th anniversary celebration! Your commitment to excellence and your passion to deliver the highest quality of service to your customers are precisely what has established PGA Sompo Japan Insurance Inc. into a successful venture for the past 20 years. It has been one of the country’s partners in encouraging the trust and confidence of foreign companies to continue investing in the Philippines, through its good business practices.
Beyond your success, I congratulate your company on your noble efforts to truly make a difference. I laud you on trusts to empower your clients with value-added services—such as risk management programs—and to be good corporate citizens through your support of community-based projects. Your triumphs as a market leader and inspiring role model for corporate social responsibility are truly exemplary.
I only hope that other organizations will emulate the initiatives taken by PGA Sompo Japan Insurance Inc. towards success.
Mabuhay po kayo!
Hon. Jejomar C. Binay
Message from the Secretary of Finance (Cesar Purisima)
My warmest congratulations to Prudential Guarantee and Assurance, Inc. (PGA) and Sompo Japan Insurance, Inc. as you celebrate your 20th year of partnership in service.
The alliance that was formed between PGA and Sompo Japan since 1991 has proven to be a successful joint venture partnership towards the development of the Philippine insurance industry. Sompo Japan, which exists now for more than a century, and PGA, one of the Philippines’ top leaders in the insurance industry, is an epitome of how two different entities work together for the benefit of the many.
The two firms’ collaboration also underscores the Philippines-Japan strong bilateral ties dating back decades ago. PGA Sompo Japan Insurance, Inc. is a living testament to the greatness that our two countries can achieve if we work together.
I hope that such an enviable partnership between Sompo Japan and PGA will continue to prosper and open more collaboration between the Philippines and Japan, not only in the insurance sector, but also on other economic fronts. May it continue to be a forward-looking team player in the government’s quest for social transformation and economic growth.
Again, congratulations and mabuhay!
Secretary Cesar V. Purisima
Message from the Insurance Commissioner (Emmanuel Dooc)
It is indeed an impressive achievement for this joint venture company of two of Asia’s leading non-life insurers: the Prudential Guarantee and Assurance, Inc. led by Roberto Coyiuto, Jr., a resolute chieftain in the Philippine insurance industry, and Japan’s foremost and renowned comprehensive service provider for Risk and Asset Management, Sompo Japan Insurance Inc. of Tokyo, to be ranked among the 15 major players in our domestic non-life insurance market.
I have set out an eight-point agenda for the Insurance Commission to be recognized as an internationally respected regulatory authority. I find this a crucial aspect to our standing as a global financial service provider. It is therefore my pleasure to extend my heartfelt commendation for the continued efforts of PGA Sompo Japan to develop their global financial services and for being committed to excellent services for all its Philippine-based clients.
Mabuhay and more power!
Emmanuel L. Dooc
Message from the Philippine Ambassador to Japan (Manuel M. Lopez)
Congratulations to PGA Sompo Japan Insurance Inc. for its 20 years of marked achievements in the industry. The company’s global reputation for committing to excellence, integrity, and growth is attributed to its visionary leaders and the entire team’s dedication to quality service. It is a proud testimony to the solidarity between the Philippines and Japan — an uplifting model of unity in action, offering the best that both Prudential Guarantee and Sompo Japan can provide not only to each other but, above all, to their consolidated clients and the community it serves.
May the company have many more years of quality service and triumphs. Best wishes to you all!
Amb. Manuel M. Lopez
Message from the Chairman and CEO (Robert Coyiuto, Jr., PGA Sompo Japan Insurance Inc.)
In behalf of our partners, allow me to extend our gratitude to our clients for your continued trust in PGA Sompo Japan Insurance Inc. We can assure you that our strong partnership will always be driven towards providing you the best quality service and constantly innovating products in tune with the constantly changing global business landscape.
I am proud to say that we also seriously take our desire to make a difference by fulfilling our corporate social responsibility. This year, PGA Sompo Japan, in cooperation with Sompo Japan Foundation and JICA, initiated a donation to support the St. Francis School VSA Arts Philippines Inc. in its program on effective rehabilitation by early detection of hearing impairment in newborn babies. The donation was used to purchase the screening machine that will be used to detect deafness at an early age. Already, the project is benefitting newly born babies from underprivileged families in Bulacan.
I also wish to thank our dynamic managers and employees for their continuing commitment to uphold PGA Sompo Japan as an exceptional and reputable non-life insurance company preferred and supported by our valued clients and business partners.
Thank you to everyone who has been a part of PGA Sompo Japan’s amazing 20 years! Congratulations to us all. The next 20 years, I am very sure, would be just as, if not even more, successful and extraordinary.
Cheers to us all!
Robert Coyiuto, Jr.
Message from the President and CEO (Kengo Sakurada, Sompo Japan Insurance Inc.)
Looking back 20 years ago in 1991, both expectations for the development of the Philippine economy and for the evolving Japanese production in Asian countries were growing. In this sense, our company’s growth was fostered and has grown in line with the growth of our clients. I express my sincere gratitude to our clients for this.
As a result, our gross premiums ranking propped up to 11 during the past years and the range of our services also widened to include comprehensive risk management and loss prevention besides insuring against the risk. Thank you very much to our dynamic team for this.
Most indispensably, a good business partner is vital to our success. Mr. Robert Coyiuto, Jr. and his family as well as the management of Prudential Guarantee and the Coyiuto Group of Companies have been understanding of Sompo Japan’s management policy and have been unwavering in its cooperation to render our capability to provide quality service and growth.
I would like to take this opportunity to extend our deepest gratitude to you.
Prudential Guarantee and Sompo Japan will continue to be partners sharing one common business philosophy. Our ultimate goal is to grow and strengthen to become the insurance group most highly regarded by its customers; we will integrate and deepen our capability of quality service to our clients.
We are the company who thinks globally and acts locally.
Please expect another successful 20 years.
Message from Marubeni Phils. Corp. President and CEO (Takashi Ishigami)
Our warm congratulations on the occasion of the 20th Anniversary of the founding of PGA Sompo Japan Insurance Inc. Your company has achieved a remarkable growth in these twenty years, ensuring that quality service to clients is always at the forefront.
Today, we are proud of the length of years of our business partnership which has been sustained by your company`s superior costumer service and long term vision for Marubeni Philippines Corp.
We look forward to another 20years of your continuous and outstanding success and prosperity in the Philippines.
Mr. Takashi Ishigami
Message from Mizuho Corp. Bank Ltd. Manila Branch General Manager (Ichiro Tada)
Congratulations on your 20 years of strong partnership and service. Ever since we signed our first policy with you in 1991, when our company was still called Fuji Bank, we have always been impressed by your dedicated leadership and service and have since expanded our business with you especially with your up-to-date financial product. Thank you for the personalized. We wish you continued success.
Mr. Ichiro Tada
Message from Rohm Electronics Phils. Inc. President (Kunihiro Tsuru)
Congratulations on your business milestone and for being a major industry player. Your spirit of innovation and total approach to risk management has truly become an asset to our company. We are proud to partner with you. May PGA Sompo Japan Insurance Inc. continue to be an industry trailblazer. More power to you!
Mr. Kuihiro Tsuru
Message from Coface Asia Pacific Region Vice President (Jean Michel Lafage)
We are very honored to be a part of PGA Sompo Japan Insurance Inc.’s global list of associates especially since it is marking its 20 years in the business. We are very proud of what we have accomplished together especially in the Trade Credit Insurance line that PGA Sompo Japan Insurance has been actively marketing. This shows the dynamic vision of the company especially when seeking solutions for clients against the ever changing risk landscape.
Mr. Jean Michel Lafage
Message from Hitachi Group General Manager (Hitoshi Goto)
Congratulations to PGA Sompo Japan Insurance Inc. for reaching its 20-year milestone!
It has shown that its values of strong partnership and service have been key factors in its success for the past two decades. Our group relationship with the company has been a strategic part in enabling us to become a vigorous company that helps build comfort and prosperity.
We also appreciate your vision of being a catalyst for positive social change through your corporate social responsibility projects. In this sense, we are truly partners in the worldwide call for transformation. Thank you, PGA Sompo Japan, for helping us inspire the next generation!
On behalf of Representatives of 18 Hitachi group companies in the Philippines
Mr. Hitoshi Goto, General Manager
Hitachi Asia Ltd. Philippine Branch
Message from Taiyo Nippon Sanso Philippines, Inc. President and CEO (Masahiko Kitabatake)
Happy 20th anniversary, PGA Sompo!
Your success is truly inevitable. Thank you for your continued support to our company. Your Risk Management Services are vital factors in our company’s growth and development as well.
Looking forward to doing more business with you in the next years to come.
Mr. Masahiko Kitabatake
PGA Sompo Japan Insurance Inc.
A joint venture between Prudential Guarantee and Sompo Japan
Congratulations on its 20th Anniversary Celebration!