NATIONAL REINSURANCE CORPORATION OF THE PHILIPPINES
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National Reinsurance Corporation of the Philippines (NRCP) is a Philippine-based publicly quoted company engaged in the provision of life and non-life reinsurance solutions. It was incorporated in 1978 by virtue of Presidential Decree No. 1270 as a domestic professional reinsurance firm to provide life and non-life reinsurance capacity to the Philippines and neighboring insurance markets. The company has its registered head office located in Makati City, the Philippines. It is traded on the Philippine Stock Exchange under the trading name NRCP.
The company is known as the country’s largest domestic reinsurer. Its non-life reinsurance includes fire, marine and aviation, and casualty and others. Marine and aviation covers insurance on aircraft, marine vessels, and marine cargo. The company’s casualty and others covers various business and personal insurance risks, such as motor car and industrial all risk, which is a blanket policy that protects a business establishment from various perils, including fire, machinery breakdown, and loss of property.
In addition, the company also covers various other casualty lines, such as burglary and robbery, contractors all risks, commercial fidelity guarantee, comprehensive general liability, dishonesty/destruction/disappearance, engineering, electronic engineering, erection all risks, equipment floater, industrial all risks, machinery breakdown, money, security and payroll, motor car, personal accident/travel/group personal accident, professional indemnity, and third party liability.
NRCP’s mission is to be a “locally dominant and regionally respected” reinsurer. It aims to remain as the preferred reinsurance company in the Philippines by offering superior service and technical expertise, offering quality reinsurance capacity to promote premium retention in the Philippines, supporting smaller domestic insurers by being a stable factor and driver of changed and being a highly attractive business partner for foreign companies in the Philippines.
The Company was incorporated 1978 as a domestic professional reinsurance firm to provide life and non-life reinsurance capacity to the Philippines and neighboring insurance markets.
Description and history
The Company was incorporated in 1978 by virtue of Presidential Decree No. 1270 as a domestic professional reinsurance firm to provide life and non-life reinsurance capacity to the Philippines and neighboring insurance markets. Under the same decree, the company was designated as the vehicle for the Philippine insurance industry’s participation in the Asian Reinsurance Corporation. A multi-government ESCAP initiated reinsurance entity, based in Bangkok, Thailand, which was established to foster regional cooperation among insurance companies doing business in Asia.
The Company writes both life and non-life reinsurance. Major business lines under the non-life segment include fire, marine & aviation, and casualty & others. Marine & aviation covers insurance on aircraft, marine vessels and marine cargo. The casualty & others line covers various business and personal insurance risks, the biggest of which are motor car & industrial all risk. Industrial all risk is a blanket policy that protects a business establishment from various perils such as fire, machinery breakdown and loss of property. Other casualty lines include the following:
– Burglary & robbery
– Contractors all risk: covers engineering works against loss or damage to contractual work
– Commercial fidelity guarantee: covers dishonest acts of employees of the insured
– Comprehensive general liability: covers the liability of business and commercial establishments
– Dishonesty/destruction/disappearance: covers the dishonest acts of employees as well as destruction and disappearance of money, securities and other valuables
– Electronic engineering: covers electronics, computers, among others
– Erection all risks: covers erection of industrial structures
– Equipment floater: covers various goods and merchandise via land or sea
– Machinery breakdown: covers breakdown of heavy machinery
– Money, security & payroll
– Personal accident/travel/group personal accident
– Professional indemnity: covers liability of professionals
– Third party liability
– Sabotage & terrorism.
Incorporated by virtue of Presidential Decree No. 1270 as a domestic professional reinsurance firm to provide life and non-life reinsurance capacity to the Philippines and neighboring insurance markets
Engaged in the provision of life and non-life reinsurance solutions
US SIC Code
Sen. Gil Puyat Avenue corner Tindalo Street (Makati City)
18th Floor, PS AXA Life Center
City province or state postal code
Phone: +63 2 759 5801
Fax: +63 2 759 5886
Country address: PHILIPPINES
Website url: www.nrcp.com.ph