Overview:

Malayan Insurance Company, Incorporated stands at the forefront of the non-life insurance industry -
THE COUNTRY’S NUMBER ONE NON-LIFE INSURANCE COMPANY. It is proud of its achievements as much
as it is proud of its contributions to the development of the Philippine non-life insurance industry and to
the progress of the Filipino nation. Guided by its tradition of excellence and its vision of becoming
synonymous to non-life insurance, it has become a towering symbol of Filipino entrepreneurship and
dynamism.

What is non-life insurance?

- Non-life insurance focuses on the protection of material and financial things in daily life, such as
homes, vehicles, other property, financial losses, and etc. while life insurance is the term for all
insurance that has to do with the life and death of a person, or with funeral provision.

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MICO's Vision

- Malayan Equals Non-Life Insurance

MICO's Mission

- Malayan guarantees to provide its policyholders the best non-life insurance protection and fair and
prompt settlement of valid claims at all times.

MICO's Quality Policy

- "We, the management and staff of Malayan Insurance, a non-life insurance company commit to: Meet
customers' need and exceed their expectations, Increase employees' productivity and provide
opportunity for their growth, continually review and improve systems and relationships with suppliers;
meet regulatory requirements, and objectively make decisions based on accurate and timely
information."

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History

✻ In 1930, equipped with a vision and determination to serve the nation and render insurance
protection to the Filipino people, Enrique T. Yuchengco founded China Insurance and Surety Company,
Inc. in Binondo, Manila.

✻ Don Enrique noted that there were more than 80 non-life insurance companies in the market. He
believed that there was a need for an insurance company that the people could depend on to serve and
protect them through fair dealings and speedy settlement of just and valid claims.
✻ Investing Php 147,500 to start his company’s operations in 1930, he and his eight agents slowly
moved into the competitive world of insurance amidst resistance from already established firms.

✻ China Insurance grew into one of the major insurance companies of the country that by 1940, its
gross premium income rose to more than Php 700 thousand and its total assets reached more than Php
400 thousand while generating a total business of Php 1,116,248.34.

✻On February 16, 1949, the same stockholders of China Insurance, headed by Don Enrique, infused
fresh capital and formed Malayan Insurance Company, Inc. The new name was conceived in response to
the new social atmosphere of building a brown race identity - the Malay race.

✻ In 2008, MICO further consolidated its resources and capabilities for a bigger, stronger company
through its merger with Tokio Marine Malayan Insurance Corporation.

✻ In 2009, Malayan Insurance received an ISO 9001:2000 certification from Certification International
U.K. Ltd. This attests to the company’s commitment to adhere to globally accepted quality management
standards. Likewise, A.M. Best Co. and Standard & Poor’s, two of the world’s most credible ratings
agencies, gave MICO a “generally stable financial strength rating.” A.M. Best affirmed the company’s
financial strength rating of B++ (Good) and the issuer credit rating of “bbb,” while S&P gave a rating of
BB- Stable, citing Malayan’s strong market position that offsets the volatility of its operating
environment.

♪ About ISO 9000:2000

ISO 9001:2000 specifies requirements for a quality management system where an organization:

1. Needs to demonstrate its ability to consistently provide product that meets customer and applicable
regulatory requirements, and

2. Aims to enhance customer satisfaction through the effective application of the system, including
processes for continual improvement of the system and the assurance of conformity to customer and
applicable regulatory requirements.

✻ When MICO celebrated its 80th anniversary in 2010, it achieved another milestone in posting Php
5.97 billion in Gross Premium Written (GPW), 44% higher than its next-ranked competitor. It also posted
a 36% growth in Net Underwriting Profit or Php 527 million. Ambassador Alfonso T. Yuchengco was
likewise honored with a Lifetime Achievement Award by the Asia Insurance Review and the Review
Worldwide Reinsurance Magazine during the 14th Asia Insurance Industry Awards. MICO also
successfully transitioned to the ISO 9001-2008 standard in the same year.
♪About ISO 9001:2008

ISO 9001:2008 specifies requirements for a quality management system where an organization:

1. Needs to demonstrate its ability to consistently provide product that meets customer and applicable
statutory and regulatory requirements, and

2. Aims to enhance customer satisfaction through the effective applicable statutory and regulatory
requirements.

✻ Malayan reached another milestone in 2012 with the development of the Malayan Facebook (FB)
Store to jump into the social media bandwagon for insurance sales opportunities. MICO is the first to
offer its services through Facebook. In fact, in the entire Asia Pacific region, only MICO has harnessed FB
as a selling channel.

✻ When MICO celebrated its 83rd anniversary in 2013, it has raised the ante by officially launching its e-
commerce site, the Malayan online store (www.malayanonline.com) to complement its FB store and level-
up its product offerings. Malayan also introduced another first in the non-life insurance industry – a mobile
app for mobile phone users. The mobile app initially caters to the Motor Car line, where clients can report
and file motor car claims via their mobile phones or tablets immediately at the scene of the accident. It is also
equipped with a branch and repair shop locator including key emergency contact numbers.

✻ In 2014, Malayan developed the Internal Capital Model, as part of Enterprise Risk Management program,
to help the company measure the amount of capital needed to cover various risks, to assist in strategic
planning, and to optimize reinsurance among others. Malayan has also embarked on a total review of the
Business Continuity and Resiliency Plan (BCRP). The BCRP includes an updated IT Recovery Plan and crisis
communication protocols to ensure the delivery of services during unforeseen events.

✻ 2015 was a significant year for Malayan Insurance as it celebrated its 85th year in the non-life insurance
business. MICO made further progress when it continued to post satisfactory gains in Gross Premiums
Written (GPW) registering P8.4 billion in 2015, showing a growth rate of 14.6% from previous year. This feat
marks the 46th consecutive year—since 1970—that Malayan Insurance has been ranked in the number one
position, solidifying Malayan Insurance’s reputation as the most trusted non-life insurer in the country. Tokio
Marine Division (TMD) also passed the P1 billion mark when it generated GPW amounting to P1.022 billion.

✻ In 2016, MICO launched auto.malayan.com, the first of its kind in the country where clients can buy car
insurance online, instantly.

✻ August 2016, a Forum to discuss the importance of cyber security insurance was conducted. The Forum on
Cyber Insurance provided a broad overview on the different risks on a corporation's information technology
(IT) systems and database, and the latest preventive measures against cybercrimes.
✻ In 2018, Malayan Insurance receives ISO 9001:2015 Certification, further strengthening Malayan’s
commitment to its customers. The company has also retained its financial strength rating of B++ (Good) and
issuer credit rating of “bbb+” with a stable outlook for both categories, from A.M. Best.

♪About ISO 9001:2015

ISO 9001:2015 specifies requirements for a quality management system when an organization:

a) needs to demonstrate its ability to consistently provide products and services that meet customer and
applicable statutory and regulatory requirements, and

b) aims to enhance customer satisfaction through the effective application of the system, including
processes for improvement of the system and the assurance of conformity to customer and applicable
statutory and regulatory requirements.