STRONGHOLD INSURANCE COMPANY, INC.
(formerly Mabuhay Insurance and Guaranty co., Inc.) was organized
under by laws of the Republic of the Philippines on March
1, 1960 primarily to engage in the insurance business. It
was registered with the Securities and Exchange Commission
(SEC) on March 21, 1960 under Certificate of Registration
No. 16697.
A week later, on March 28, 1960, the original Certificate
of Authority No. 191 was issued by the office of the Insurance
Commissioner which specified the kind of insurance lines the
company will be engaged in: Fire, Marine, Motor Car, Fidelity
and Surety, and Miscellaneous (except life).
A year later, on February 22, 1961, President Carlos P. Garcia
issued Administrative Order No. 344 authorizing the Company
to become a Surety which includes official recognizances,
bonds, stipulations and undertakings.
Since then, the Company had grown to become one of the country's
leading non-life insurance companies wholly-owned by Filipinos.
As the Company continued to grow, major changes took place.
These are the following:
- October 21, 1973 - Paid-up capital was increased to Php4,000,000.00
- December 31, 1980 - Paid up capital was increased to Php5,000,000.00
in compliance with P.D. 1455
- January 1, 1981 - Ownership and management of the Company
was taken over by the group of Mr. David C. Mercado.
- May 29, 1981 - Corporate name of the Company was changed
to Stronghold Insurance Company, Inc
- November 14, 1984 - Authorized Capital was increased to
Php20,000,000.00
- June 15, 1994 - Authorized Capital was increased to Php60,000,000.00
- March 26, 2003 - Paid up capital was increased to Php70,000,000.00
in compliance with the provision of Department Order No.
116-93 of the Department of Finance dated December 7, 1993.
Stronghold Insurance Company, Inc. with head office located
at the 17th Floor, Security Bank Center, 6776 Ayala Avenue,
Makati City houses the Company's more than one hundred (100)
employees. |