Homegrown non-life insurer Visayan Surety Insurance Corporation (VSIC) is accelerating investments in digitalization, technology and talent as it positions the company for its centennial in five years.
The strategy comes as the Cebu-based insurer celebrated its 95th anniversary on July 14, 2026, highlighting nearly a century of uninterrupted operations through the Great Depression, World War II, financial crises, and the COVID-19 pandemic.
Founded in 1931 by businessman Manuel Gotianuy, the company remains one of the country's few family-owned insurers that has grown without mergers or acquisitions.
“We have remained independent for 95 years because we have always taken the long view,” said Chairman Atty. Augusto W. Go.
“Our priority has never been growth for its own sake but building a company that policyholders can continue to trust,” he explained.
“As we move toward our centennial, we will continue strengthening that foundation through sound management, financial stability, and service,” Go added.
Today, the company is led by third-generation Executive president and Chief executive officer Kenneth L. Go, who is steering VSIC's modernization program.
Straightforward
The insurer recently invested P30 million in a new core insurance platform to improve underwriting, claims processing, and customer service. It has also expanded its management team with experienced insurance professionals and continues to invest in employee development while pursuing digital initiatives that simplify policy issuance and client transactions.
“Our focus over the next five years is straightforward,” Kenneth Go said. “We are investing in technology and people so we can respond faster, serve customers better, and make insurance easier and more accessible. We want to enter our 100th year as a stronger and more agile company,” he pointed out.
The modernization program comes as demand grows for insurance products that address today's business and consumer risks. From offering only fire insurance and surety bonds in its early years, VSIC now provides about 60 non-life insurance products, according to Blue R. Tejam, head of alternative distribution channel management.
Among its flagship offerings are Motorcar Insurance, Fire Insurance, Personal Accident Insurance, Surety Bonds and Liability Insurance, serving individuals, professionals, and businesses nationwide.
The company has likewise expanded its distribution network from only two licensed agents in its early years to more than 150 licensed agents across the country.
Gross receipts
VSIC's growth has been largely organic. Gross premiums written increased from P4 million in 2004, when the company had P25 million in capitalization, to P1 billion in 2022 with P1.3 billion in capitalization.
Gross premium receipts reached P884 million in 2024 before easing to P751 million in 2025, reflecting claims experience and market conditions brought about by recent natural calamities.
Company officials said VSIC remains financially stable and well-positioned for long-term growth.
For Kenneth Go, the company's competitive advantage continues to be the trust it has earned over nearly a century.
“Technology is changing the insurance business, but trust remains our most valuable asset,” he said. “Our goal is to combine the reliability that clients have known for generations with faster, more convenient and more responsive service.”
The company's 95th anniversary celebration at the Cebu Coliseum gathers business leaders, insurance partners, employees, and clients to mark the milestone and signal the start of its five-year journey toward its centennial in 2031. (PR)