PGA Sompo Insurance marks 30 years of contribution to Philippines progress

MANILA, Philippines — The leading insurers in their respective countries Prudential Guarantee and Assurance Inc. in the Philippines and Sompo Holdings Inc. of Japan, led by Group CEO, director and president Kengo Sakurada in 1991 forged a partnership to form what is now known as the PGA Sompo Insurance Corp.

The joint venture was considered a strategic breakthrough in the domestic non-life insurance industry as it capitalized on each company’s strengths.

Under the leadership of chairman Robert Coyiuto Jr., PGA Sompo’s expertise and insights have through the years opened the doors to new markets and a diverse range of products.

It is currently one of few non-life insurers in the Philippines to receive a globally recognized credit rating, having been assigned in 2019 by international ratings agency AM Best a B+ (Good) grade for its financial strength, and bbb- (Good) for its long-term issuer credit rating. The ratings validate the competence and credit worthiness of PGA SOMPO, whose position AM Best cited as “strong.”

In the last five years, PGA Sompo has doubled the size of its GPW, and in 2020 the company entered the ranks of the country’s Top 10 non-life insurance companies.

As PGA Sompo celebrates its 30th anniversary, the company forges ahead with innovative services benefitting not only individuals and corporate clients, but also national infrastructure projects and flagship investments that contribute to Philippine progress.