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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.
* 2005 Networth is 310,000,000.00
* 2005 Total Assets is 535,000,000.00
Office Address:
MECA INSURANCE AGENCY, INC. Suite 1003- Aurora Tower ( Isetan Bldg.), Aurora Blvd., Araneta Center, Cubao, Quezon City, Philippines
Tel. Nos. 466-3494
Contact Person:
MARVIN TULIAO
0906-2065258
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