When a fire broke out in one of the buildings in Manila during the 1960s, their occupants were desperately trying to save their properties, while curious spectators milled around as usual. One man alone, dressed in his business suit, stood quietly apart from the crowd: he was assessing in his mind the cost of what the fire had damaged. In a few minutes, he had it all figured out and was ready to write a check for the damage to the owner of the building, a client of Oriental Assurance Corporation.
The observer was Don Gonzalo H. Cotoco, who believed so strongly in insurance that he decided to devote his whole life to it. Starting out as an agent for leading insurance companies, he went on to start his own company, Oriental Assurance Corporation on May 3, 1962, serving as its first chairman and president. Later, he was to pass on this legacy to his son, Nazario H. Cotoco, who continued to lead Oriental, inspired by his father’s strong conviction in the importance of insurance.
OAC has distinguished itself as one of the major companies in the Philippine insurance market, with total assets of more than P1 billion. The company writes all lines of non-life insurance, and even offers exclusive insurance protection packages designed for clients on a highly professional level.
Today, Oriental Assurance continues to move forward, propelled by the synergy of talents and leadership in the Cotoco family’s third and fourth generations. The company has also moved consistently upward with its policy of giving excellent service to clients.
Through its alert observance of the insurance market, Oriental Assurance is determined to be second to none in bringing first-class insurance advice and services to its clients.