Over a century since its founding, Philippines First remains a dynamic
industry player ranked 4 th in terms of net worth (2016 Insurance
Commission Annual Report). It is an all-line non-life insurance company
providing vital insurance protection to generations of Filipino families and
business enterprises.
Philippines First Insurance Corporation (Philippines First) is deeply rooted
in our nation’s history. It holds the distinction of being the very First
non-lfe insurance company established in the Philippines. Philippines First
was established in 1906 during the advent of the American colonial period.
Although we had just lost the Philippine-American war, significant
developments in education, trade and commerce, and governance
propelled our country into the era of economic development. Thus, the
operation of Philippines First provided our pioneering entrepreneurs with
critical insurance protection needed to secure, stabilize and grow their
fledgling businesses.
Philippines First was founded by Guillermo A. Cu Unjieng, a Chinese
national who migrated to the Philippines at the age of 17, married a Filipina
and became one of the precursors of the modern day Chinese-Filipino
family. His initial business ventures involved textiles, import and export. But
it was his desire to help his fellow Chinese migrants establish their
business that fueled his interest in financial services. He eventually
founded what is now the Philippines First Insurance Corporation, was a
founding director of what is now the China Banking Corporation and was
the founder and first president of the Chinese Chamber of Commerce.
In 1972, Philippines First was acquired by Agustin N. Tanco, patriarch of a
prominent Chinese-Filipino family. Today, the Tanco Group is a diversified
services conglomerate with major interests in education, financial services,
marine terminal services, and property development.
STI Education Systems Holdings, Inc. (STI Holdings) serves as the
education services arm which owns, maintains and operates the STI
Education Services Group (STI ESG), iAcademy, DLS-STI College of
Health Professions, and the STI West Negros University. On the other
hand, Philippines First, together with STI ESG, owns Maestro Holdings
which operates an all-line financial service group through subsidiaries
involved in life insurance (PhilLife), healthcare services (PhilCare), and pre-
need services (PhilPlans). Asian Terminals Inc. (ATI), another company
under the Tanco group, is a Philippine Stock Exchange-listed port operator,
developer and investor which operates the Manila South Harbor, the Port of
Batangas, Batangas Container Terminal, and off-dock yards in Sta. Mesa,
Manila, and Calamba, Laguna.
