FORTUNE GENERAL INSURANCE CORPORATION or FGen Insurance is a non-life insurance company with more than half a century of experience in serving the risk management needs of Filipinos.
Our company exists to provide effective and innovative risk transfer tools and cost-effective products. We are committed to excellence, and we want to serve as a role model in the industry as we strive and sustain the social and economic advantages of our clients, intermediaries, personnel and shareholders.
We want to become and remain the insurer of choice of the new generation.
Incorporated in June 13, 1955 as Mutual Security Insurance Corporation, our company was made part of the ALC Group in November 1986. Ambassador Antonio Cabangon-Chua acquired the majority share of the company and changed its name to Fortune Guarantee and Insurance Corporation.
The ALC Group also owned another non-life insurance company known as Citystate Insurance Corportation. It was a venture with British, Singaporean and American partner, notable of which were the Leow family and their Citystate Group and Liberty International of the US (a Fortune 500 Company). It was in 2002 that Ambassador Cabangon-Chua bought the majority share in Citystate Insurance and had control of two non-life insurance companies. He then merged the company into one.
On July 10, 2003, the Securities and Exchange Commission gave its approval for the merger, with Fortune Guarantee as the surviving entity. The merger brought about a company with P300 million in paid-up control capital, with over P500 million in total assets and which potentially could generate P300 million in Gross Premiums Written.
To complete the transition, Fortune Guarantee & Insurance Corporation re-branded itself in 2004, to what is now known as Fortune General Insurance Corporation.
To date, FGen Insurance as it is popularly known, has breached the Billion mark in Total Assets, with Gross Premiums Written of P693.4M as at the close of 2018 and is eminently positioned to serve the needs of the Filipino today. Propelled by disciplined underwriting, company has managed to maintain positive underwriting results over the last four years dating back to 2015 which intends to maintain in the years ahead.