Standard Insurance turns 53 in August

MANILA, Philippines - Standard Insurance Co. Inc. is turning 53 next month, while pledging “to deliver better service moving forward. Standard Insurance president Patricia Echauz-Chilip said they remain committed to its strategy of underwriting discipline and sustainable profitability for its traditional lines of business. Last year, the company posted insurance premium revenues of P2.6 billion with a P101-million net income and total assets of P3.3 billion with equity of P1 billion. Echauz-Chilip said last year’s company improvements include a web-based insurance system. She explained that their biggest asset remains their talented and professional people “who represent our culture of hard work and trust.” Standard Insurance also embarked on various blue ocean efforts to develop new businesses that include forays into business process outsourcing and motorcycle insurance.