CAP still leads pre-need industry

Pre-need industry pioneer College Assurance Plan (CAP) and sister company Comprehensive Annuity Plans and Pension Corp. (CAP Pension) are still the undisputed leaders in the pre-need industry in terms of total gross sales of trust funds.

According to the latest report of the Securities and Exchange Commission’s (SEC) non-traditional securities and instruments department, the top three sellers of education plans from January to June 2001 were CAP (number one) with P2.6 billion, Berkley International Corp. (number two) with P1.4 billion, and Philam Plans Inc. (number three) with P1.1 billion.

Meanwhile, the pension plan category’s top three players from January to June 2001 were Philam Plans (no. one) with P1.767 billion, CAP Pension (no. two) with P1.523 billion, and Pacific Plans Inc. (no. three) with P1.520 billion.

To date, CAP and CAP Pension’s combined trust funds now amount to P11.7 billion, still the biggest in the pre-need industry. The trust fund, which is the prime indicator of a pre-need company’s strength and stability, is the amount set aside by the company to pay for maturing obligations.

These funds are deposited in banks such as Allied Bank, Bank of Commerce, Bank of the Phil. Islands (BPI), Citibank, Equitable PCI Bank, Metrobank and Unionbank.

CAP and CAP Pension are ranked 150th and 432nd in the SEC’s 1999 Top 5000 Corporations, respectively, and have been dominant industry players since their inception.