Pacific Union Insurance Company was founded on June 5, 1945 by the late Don Aurelio Periquet Sr. who was a pioneer in the industry. The company was granted Certificate of Authority No. 1 on July 21, 1945 by the President of the Philippines thru the Insurance Commissioner to write fire, marine, automobile, accident, and miscellaneous lines to act as surety on official recognizances, stipulations, bonds and undertakings.
A historical note is that the first bond issued by Pacific Union was in behalf of former President Jose P. Laurel Sr. in favor of then Commonwealth of the Philippines.
During a certain period when the Government Service Insurance System (GSIS) could not readily obtain domestic reinsurance, the Company was singled out to exclusively handle the reinsurance requirements of the GSIS. Consequently, Pacific Union was voted “Insurance Firm (Non-Life) for the year 1952” by the Business Writers Association of the Philippines.
In its 70 years of existence, the company still maintains its prudent approach in underwriting with the objective of achieving a quality portfolio and customer satisfaction through prompt service and efficient claims handling.
Under its new management, the Board of Directors is composed of young and dynamic businessmen and professionals whose forecasts are impressive and high-powered. They are Mr. Roy G. Padiernos, Chairman of the Board; Gay G. Padiernos, Ms. Joy P. Carlos, Atty. Perla P. Huerto, Jan Adrian DL. Padiernos, Grace T. Lim, Gregorio B. Sta. Maria, Jr., members.
The Company is strengthened by treaty facilities provided by leading reinsurance companies here and abroad, enabling Pacific Union to provide automatic coverage on risks with its excess subject to availment of facultative reinsurance.
The Company boasts its accreditation with various banks and financing institutions as well as government entities giving us a wider mileage in servicing.
To be the first-rate non-life insurance solution in the country
First rate – the most preferred, the leader in terms of innovation (business processes, product lines and product services), financial growth & stability, professionalism, integrity, high ethical standards and good governance.
Solution – to be oriented in the finding the right product for our customers, rather than just simply providing what is asked for.
Mission – What Matters Most to Us
We commit to:
Provide customer satisfaction
Settle valid claims fairly within reasonable time
Offer responsive non-life insurance products able to meet the complex and varied needs of our clients
Support our intermediaries in achieving their business and personal goals
Look after the welfare of our employees and provide opportunities for their professional growth
Deliver reasonable returns to our shareholders
The foundation and fruits of our business is built on honesty, reliability and truthfulness.
The customers are the core of our business. We are proactive in continuously providing excellent products and services in simultaneous evolution as we remain vigilant and empathic towards our customers’ needs.
We shall perform to the best of our ability with distinction and superiority. We will adhere to a strong sense of self-evaluation, always striving to process and produce in the best standards.
With strong work ethic; deserving of others’ trust and respect; using company resources prudently; We will act with fairness and objectivity and shall be accountable for one’s actions.
We value the power of synergy through efficient communication and collaboration in the team and in our community. We will always strive to become better workers as we personally and professionally grow bigger together in this business.
We believe in our workforce. We are driven to create and maintain an environment where people respect each other’s rights and dignity and are inspired to work as a team towards the attainment of our goals.