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Great Domestic Insurance Company of the Philippines is one of the country’s leading and oldest Non-Life Insurance Company. It was formerly known as Domestic Insurance Company of the Philippines and was incorporated on July 3, 1946. At that time, the Company’s Incorporators were prominent personalities in the Business World, such as of Don Eugenio Lopez, Alfonso Sycip, Don Ramon Araneta, J. Antonio Araneta, David Sycip, and Foreign Insurance Companies doing business in the Philippines notably led by the Union Insurance Society of Canton Ltd. Commercial Union Assurance Company Ltd. Sun Alliance Ltd. South British Insurance Company, and Smith Bell and Company, Ltd. It antedates the Philippines Republic by one day having been incorporated on July 3, 1946. It is therefore, having the distinction of being the last Company licensed by the Philippines Commonwealth and the first Non-Life Insurance Company to be licensed by the Republic of the Philippines after liberation from the Japanese Imperial force of World War II.
In 1985, the majority stockholding of the Company changed hands as a group of young Insurance Executives, led by the Family of Mar S. Lopez who bought the controlling equity of the Company. Likewise, top caliber Insurance Executives and Underwriters were hired to improve the quality of service to the Insuring Public and fulfill the commitment of the management for excellence and continue the legacy of the Company’s original incorporators and founders.
In 1997, the Company increased its paid-up capitalization to P50,000,000.00 and in line with government’s thrust to develop the Mindanao area together with the successful BIMP East Asian Growth Area Agreement between Brunei, Indonesia, Malaysia, and the Philippines, the stockholders opted to move its head office to Davao City and changed its corporate name to Great Domestic Insurance Company of the Philippines. The Company then became the first Non-Life Insurance Company to have its head office in Mindanao.
By 1998 and 1999, the Company’s operation was so successful that management decided to establish Regional and Branch operations in key areas and Cities in Luzon, Visayas, and Mindanao.
Supported by prestigious local and foreign reinsurers, the Company launched a continuing research program designed to develop new product lines, and further improve its portfolio in the traditional lines of insurance, to better serve the growing needs of the insuring public.
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GREAT DOMESTIC INSURANCE COMPANY OF THE PHILIPPINES, INC.
• Is a service company committed to deliver the best service to the insuring public.
• Is committed to provide avenues for the officers and employees and its servicing agents to achieve a high level of personal development and uplift their standard of living in relation to their contribution to the company’s profitability and operations.
• Is fully supportive of the governments program in providing assistance and support to the people of Luzon, Visayas and especially Mindanao.
• Further commits itself to contribute to the nation’s welfare as a reasonable and socially aware corporate citizen and to provide an equitable return to our stockholders.
• Continuously support the government in its effort to build a Strong Republic by remitting and paying its share of duties and taxes and participating in government programs to raise its revenue.
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