Great Life Insurance Business Report
Brief History:
GREAT LIFE FINANCIAL ASSURANCE CORPORATION
Great Life Financial Assurance Corporation was incorporated in the Philippines and registered with the Securities and Exchange Commission (SEC) on February 24, 1997 to carry on the business of life insurance. The Company is 50%-owned by Nippon Life Insurance Company, Inc., a company based in Osaka, Japan, 30%-owned by Great Pacific Life Assurance Corporation (Grepalife), an insurance company, and 20%-owned by Rizal Commercial Banking Corporation (RCBC), a bank. It received its Certificate of Authority from the Insurance Commission of the Philippines on June 13, 1997 and started its commercial operations on October 1 of the same year.
On June 19, 2007, Grepalife and Nippon Life Japan entered into a Sale and Purchase Agreement wherein the latter offered to sell its 50% share in the Company, and which the former accepted to purchase the same.
On July 18, 2007, the company filed with the SEC for the change of its name from Nippon Life Insurance Company of the Philippines, Inc., to Great Life Financial Assurance Corporation. The change in name was approved by the SEC on July 30, 2007.
On October 1, 2007, Grepalife completed the purchase of the ownership of Nippon Life, Japan in the Company.
With the full acquisition by the Yuchengco Group of Companies (YGC), Nippon Life Philippines enters a new phase in its corporate history. With a new name, GREAT LIFE FINANCIAL ASSURANCE CORPORATION, to reflect the change in leadership, it is now more focused on providing for the financial needs of Filipino families everywhere.
Under the Yuchengco Group of Companies (YGC), Great Life Financial is gearing up to bolster its sales force via aggressive recruitment and open more branches in Metro Manila. It currently has 13 branches and 2 general agencies strategically located across the country.
PERFORMANCE APPRAISAL
INTRODUCTION
Yearly performance reviews are critical. Organization's are hard pressed
GREAT LIFE FINANCIAL ASSURANCE CORPORATION
Great Life Financial Assurance Corporation was incorporated in the Philippines and registered with the Securities and Exchange Commission (SEC) on February 24, 1997 to carry on the business of life insurance. The Company is 50%-owned by Nippon Life Insurance Company, Inc., a company based in Osaka, Japan, 30%-owned by Great Pacific Life Assurance Corporation (Grepalife), an insurance company, and 20%-owned by Rizal Commercial Banking Corporation (RCBC), a bank. It received its Certificate of Authority from the Insurance Commission of the Philippines on June 13, 1997 and started its commercial operations on October 1 of the same year.
On June 19, 2007, Grepalife and Nippon Life Japan entered into a Sale and Purchase Agreement wherein the latter offered to sell its 50% share in the Company, and which the former accepted to purchase the same.
On July 18, 2007, the company filed with the SEC for the change of its name from Nippon Life Insurance Company of the Philippines, Inc., to Great Life Financial Assurance Corporation. The change in name was approved by the SEC on July 30, 2007.
On October 1, 2007, Grepalife completed the purchase of the ownership of Nippon Life, Japan in the Company.
With the full acquisition by the Yuchengco Group of Companies (YGC), Nippon Life Philippines enters a new phase in its corporate history. With a new name, GREAT LIFE FINANCIAL ASSURANCE CORPORATION, to reflect the change in leadership, it is now more focused on providing for the financial needs of Filipino families everywhere.
Under the Yuchengco Group of Companies (YGC), Great Life Financial is gearing up to bolster its sales force via aggressive recruitment and open more branches in Metro Manila. It currently has 13 branches and 2 general agencies strategically located across the country.
PERFORMANCE APPRAISAL
INTRODUCTION
Yearly performance reviews are critical. Organization's are hard pressed