INSULAR LIFE ASSURANCE COMANY LTD. was incorporated and organized on November
25, 1910 as the first Filipino life insurance company, and met instant success.
In the 1930s, it had its own building at Plaza Morga, then a premiere business
district. Not even the war could stop the company, as it was allowed to operate
due to its esteemed reputation. In 1943, it assumed the business written by the
Filipinas Life Assurance Company. Insular Life recovered from the war through
the government rehabilitation program. It grew even bigger in the 50s when it lowered
its premiums and, in one of the largest transactions in the Philippine
insurance industry, assumed the business
underwritten by the Occidental Life Insurance Company of California.
In 1960, Insular Life Assurance Co., Ltd. marked its half a century of service by coming out with a series of 6 corporate ads, featuring the works of the celebrated artist, Fernando Amorsolo, which are part of the company’s commissioned art collection. Under the thematic line “Building Our Nation”, three ads are shown here:
EARLY TRADERS FROM ACAPULCO (4th of a series), featured above, pictures the galleon trade of the Philippines and Mexico. The traders were enterprising pioneers, in much the same way that in 1910 that pioneer businessmen founded Insular Life, which, by 1960, had paid out over 26.5 million pesos to policy owners and their beneficiaries
PRINCESS URDUJA AND HER WARRIOR MAIDENS (5th of a series) show the legendary princess Urduja, who was known for being fearless and courageous—the same traits that served the founders of Insular Life well when they ventured with fortitude when they put up the company.
THE BARGAIN OF THE GOLDEN SALAKOT(6th of a series), depict the first colonizing
event in the country, when Bornean Datu Puti made a deal with Datu Marikudo, to
make a colony on the coastal shores of Panay. Marikudo agreed, and asked for a
golden salakot in return. This “first” in history parallels that of Insular
Life’s—the country’s fist Filipino-founded insurance company.
SOURCES
Insular Life website, https://www.insularlife.com.ph/about-insular-life
No comments:
Post a Comment