Our Journey

Through the Years

In its first full year of operations, MAAGAP was able to underwrite Php 350 million, placing it among the top 20 non-life insurance companies and was soon placed at number 1333 among the top corporations in the Philippines

2002

2003

The very first branch was launched in Binondo, Manila to strategically cater to the insurance needs of the traditional Filipino-Chinese settlers who have established themselves in the old city district.

Within five months' time, MAAGAP embarked on another aggressive investment by inaugurating the succeeding branch in the second largest city in the Philippines—Cebu City in July of the same year, predominantly to serve the prosperous economic activity of the Visayas and Mindanao regions.

The continuous growth of the company was evident in February 2004, when another office was established in the City of Dagupan, Province of Pangasinan to accommodate the local industries located in the northern part of Luzon.

2004

2005

MAAGAP Team, in all their vibrancy, took the strategical initiative to target the throbbing commercial activity in the Mindanao region by setting up Davao City office.

In June 2006, the Company kicked off its 5th branch operation in the City of Smiles, Bacolod City.

On its 5th year of delivering quality customer service, MAAGAP attained the ISO 9001:2000 Certificate of Excellence in Quality Management awarded by Certification International in November 27, 2006.

2006

2010

MAAGAP successfully transitioned to ISO 9001:2008 Standard

Six years went by since the inauguration of the last branch in the Visayas region took place, and the MAAGAP team felt it was time to regain its assertiveness to broaden the network in the local market by taking the plunge to open both Cagayan de Oro and Bulacan branches, back-to-back in the same year of 2012.

2012

2013

MAAGAP's presence is now visible in Southern Luzon as the Batangas Branch was put into place.

Six years went by since the inauguration of the last branch in the Visayas region took place, and the MAAGAP team felt it was time to regain its assertiveness to broaden the network in the local market by taking the plunge to open both Cagayan de Oro and Bulacan branches, back-to-back in the same year of 2012.

2016

2018

The establishment of the Cavite branch in 2018 is MAAGAP's latest venture in its corporate strategic planning which signifies the Company’s firm and continuous development to meet its long-term objectives.

In the same year, MAAGAP successfully secured its recertification to ISO 9001:2015 -- attesting to the company's commitment in adhering to globally accepted quality management standards as maintaining to be among the only six (6) ISO-Certified Non-life Insurance companies in the Philippines.

In December 31, 2020, MAAGAP is deemed compliant with the Php900 Million Minimum Net Worth Requirement pursuant to Section 194 of the Amended Insurance Code of the Philippines.

2020

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The birth of MAA General Assurance Phil., Inc. (MAAGAP) took place when its parent company, MAA International Group Ltd. (MAAIG) from Malaysia ventured to strategically expand its business in Asia. MAAIG is an offshore composite insurance company licensed under the Offshore Insurance Act 1990 in Labuan International Offshore Financial Centre (IOFC) to underwrite life and general insurance and reinsurance business. Gearing for the planned expansion, MAA procured the insurance license of the then Paramount Insurance Corporation and renamed it MAA General Assurance Phil., Inc.

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Published on December 05, 2022
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