ABOUT US
Performance Report | Board of Directors | Mission/Vision

In 1972, the AFP Mutual Benefit Association, Incorporated (AFPMBAI), under the administration of an interim committee, created by the then Chief of Staff General Romeo Espino embarked on the expansion of its business concerns and benefit programs for its members. Three major divisions were created among which was its Non-Life Division. However, insofar as non-life insurance operation requires a special license, presidential intervention was sought which subsequently led to the issuance of Letter of Instruction No. 596 on September 9, 1977. This gave AFPMBAI the authority to engage in non-life business.

Pursuant to LOI 596, the Insurance Commission issued Certificate of Authority No. 144-0 on October 25, 1977. Also on this date, the first policy covering the structures and facilities of the AFP against fire was written.

In 1978, the Insurance Commission directed the AFPMBAI to separate its non-life and life insurance operations for better supervision and financial control. On March 22, 1979, its non-life division was incorporated and took on the name AFPMBAI General Insurance Corporation. AFPMBAI put in the required capitalization of P4.5M. BGen Jesus T. Dizon became the Company's first President.

To give AFPMBAI GIC a distinct identity from AFPMBAI, the company's name was shortened to AFP General Insurance Corporation or AFPGIC, more popularly known in the industry as AFPGEN. The SEC approved this change of name on July 8, 1986.

With a corporate vision of steadily seeking ways and improving on products and services that will enhance shareholder value, while sustaining its commitment of service over its primary or institutional clientele, the company has explored new markets and has provided product lines such as Fire, Motor Car, Bonds, Personal Accident, Golfer's, Marine Cargo and Marine Hull, Aviation, Contractor's All Risk, Engineering, Licensed Firearms Liability, Travel, Comprehensive General Liability, and Property Floater Insurances among others. The continuing steadfastness of AFPGEN's leadership and vitality and loyalty of its officers and staff make the company committed to take on competition in the demanding local insurance industry.