People's Surety and Insurance Corporation was founded on May 22, 1950 by a prominent group of Filipino enterprising businessmen, headed by Ambassador Tomas C. Benitez. After nearly three decades in the insurance industry, the operation was turned over to the Business Counseling Group on November 02, 1978. Three years later in 1981, the Mercantile Insurance Company and the Yasuda Fire and Marine Insurance Co. LTD of Tokyo, Japan through a joint venture,'' took over the operation of the company. And it was then when People's Trans East Asia Insurance Corporation came into existence.
While gradually carving its name in the insurance industry in 1992, Peoples Trans-East Asia Insurance Corporation made an unprecedented move to operate as a 100% Filipino Controlled Corporation, buying out Yasuda Fire and Marine Insurance Co. Ltd. With the new management at the helm, a fresh batch of officers and executives were hired and promoted providing the much needed dynamism and aggressiveness to propel the company to its highest peak. This turnaround paved the way in establishing twenty eight (28) Service Offices nationwide. Insurance agencies were likewise developed, bringing the company to unparalleled heights in terms of production and profits.
With remarkable sales and income, the company once again leaped further by having its own Head Office constructed at 420 Calle Magallanes, Intramuros, Manila.
1998 was a momentous year as another group headed by Mr. Ernesto J. Del Rosario and Mr. Alfredo D. Cruz acquired the company and took over its operation. With their combined expertise and experience in the insurance industry, this new alliance became the backbone of this organization. Their dedication, perseverance and leadership became an inspiration to further uplift and improve the quality of service we have rendered over the years.
By 1999, another milestone in our history made its mark as Ernesto J. Del Rosario, now Chairman of the Board and Chief Executive Officer, together with Alfredo D. Cruz, Vice Chairman and President made their way to the Securities and Exchange Commission, giving birth to People's General Insurance Corporation.
With over 60 years in existence, our journey continues. The quest for excellence in providing total customer satisfaction, remains our driving force in keeping up with the demands of our clientele. We remain committed to the ever changing needs of the insuring public, and at the same time adhering to the guidelines set forth by the Insurance Commission.