Philippines First Insurance Corporation (Philippines First) is deeply rooted in our nation’s history. It holds the distinction of being the very First non-life 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.
Over a century since its founding, Philippines First remains a dynamic industry player ranked 4th 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.
