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IC Grants 2 Fortune firms certificates of authority
Fortune Life Insurance Co. Inc., and Fortune General Insurance Corp., the life and non-life insurance companies, respectively, of the Fortune Insurance Group, received their certificates of authority recently from the Insurance Commission (IC).
The certificates of authority were issued by the IC after Fortune Life Insurance and Fortune General Insurance complied with all the requirements set by the IC, officials of the two insurance companies said. Fortune General received its license late last month, being the first non-life insurance company issued the certificate of authority this year. Fortune Life Insurance received its own certificate early this month.
The certificate of authority serve as an assurance that Fortune Life Insurance and Fortune General Insurance are deemed qualified by the IC to transact insurance business.
As a non-life insurer, Fortune General Insurance specializes in providing fire, marine, casualty and surety insurance. Fortune Life Insurance offers various insurance products designed to secure the future of policy holders, in keeping with its corporate motto "Securing Your Tomorrow Today."
The Fortune Insurance Group to which Fortune Life Insurance and Fortune General Insurance belong is headed by Ambassador Antonio L. Cabangon Chua, its chairman emeritus and founder.