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                    [ArticleID] => 306136
                    [Title] => Mapfre Asian, Insular General merge into single non-life insurance firm
                    [Summary] => Mapfre Asian Insurance Corp. and Insular General Insurance Co. Inc. have merged into a new company to be known as Mapfre Insular Insurance Corp., catapulting the merged entity to eighth place in terms of earned premiums in the non-life insurance industry.


Corporacion Mapfre of Spain will control 75-percent equity of the new non-life insurance company while Insular Life Assurance Co. Inc. holds on to the balance of 25 percent.


                    [DatePublished] => 2005-11-10 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
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                    [ArticleID] => 203699
                    [Title] => Spanish business group acquires First Metro stake in local unit
                    [Summary] => Corporacion Mapfre, the holding company of Sistema Mapfre of Spain, announced that it recently acquired the P170-million stake of First Metro Investment Corp. in Mapfre’s local business unit, Mapfre Asian Insurance Corp. The acquisition enabled Corporacion Mapfre to substantially increase its holding in Mapfre Asian from 53.3percent to 93.3 percent.


The move to invest an additional P170 million reflects Corporacion Mapfre’s continued confidence in the Philippine market despite the difficult market conditions prevailing in the country.


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CORPORACION MAPFRE

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                    [Title] => Mapfre Asian, Insular General merge into single non-life insurance firm
                    [Summary] => Mapfre Asian Insurance Corp. and Insular General Insurance Co. Inc. have merged into a new company to be known as Mapfre Insular Insurance Corp., catapulting the merged entity to eighth place in terms of earned premiums in the non-life insurance industry.


Corporacion Mapfre of Spain will control 75-percent equity of the new non-life insurance company while Insular Life Assurance Co. Inc. holds on to the balance of 25 percent.


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                    [ArticleID] => 203699
                    [Title] => Spanish business group acquires First Metro stake in local unit
                    [Summary] => Corporacion Mapfre, the holding company of Sistema Mapfre of Spain, announced that it recently acquired the P170-million stake of First Metro Investment Corp. in Mapfre’s local business unit, Mapfre Asian Insurance Corp. The acquisition enabled Corporacion Mapfre to substantially increase its holding in Mapfre Asian from 53.3percent to 93.3 percent.


The move to invest an additional P170 million reflects Corporacion Mapfre’s continued confidence in the Philippine market despite the difficult market conditions prevailing in the country.


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abtest

Mapfre Asian, Insular General merge into single non-life insurance firm

By Ted P. Torres | November 10, 2005 - 12:00am

Mapfre Asian Insurance Corp. and Insular General Insurance Co. Inc. have merged into a new company to be known as Mapfre Insular Insurance Corp., catapulting the merged entity to eighth place in terms of earned premiums...

Business

Spanish business group acquires First Metro stake in local unit

April 25, 2003 - 12:00am

Corporacion Mapfre, the holding company of Sistema Mapfre of Spain, announced that it recently acquired the P170-million stake of First Metro Investment Corp. in Mapfre’s local business unit, Mapfre Asian Insurance...

Business