PALO, Leyte– One of the country’s biggest insurance companies is pinning high hopes of achieving its target for the year, thanks to the many infrastructure projects being undertaken by the Marcos administration.
Joseph Carandang, head of the sales and marketing division of the Pacific Union Insurance Company (PUIC), said that for this year, they are targeting to achieve P1.7 billion.
And for 2024, they are eyeing about P2.1 billion income, he said.
“Actually, we are one of the thriving industries during the pandemic. Construction is one of our biggest leverages because our biggest product is the contractor’s all-risk insurance or the bond,” Carandang said in an interview.
“And one of our biggest opportunities included the big projects undertaken by the previous administration of(former president) Duterte under his Build, Build, Build and now we have the Build Better More by the current administration of Pres. (Ferdinand Bongbong) Marcos, Jr. so we are taking advantage of the various constructions under the program,” he added.
Carandang was among the guests during the Christmas party held by the PUIC based here and headed by Ma. Agnes Costuna last Sunday (Dec.3).
The company, one of the leading non-life insurance companies, provides bonds to contractors undertaking government infrastructure projects.
But Carandang said that while they are happy with the positive growth of their company, what gives them more satisfaction is how their agents perform and their welfare.
“When it comes to income, we are very happy but the most important for us is the income of the agent. More than the income of the company, it’s really the agents that help us grow,” he said.
At present, the company operates in 35 key areas across the country and intend to open more offices.
Meantime, Carandang said that they are happy on the performance of their local branch being headed by Costuna.
In fact, they are seeing an increase in the ‘product’ income of the Pacific Union Insurance Co. in the region under the stewardship of Costuna.
For this year, the target of the company in the region is P120 million, of which 90 percent has been reached already.
Costuna said that they are doing their best to attract more clients and continue their position as the leading non-insurance company in Eastern Visayas.
“We are just happy that our clients are steadily growing,” she said.
(JOEY A. GABIETA/LIZBETH ANN A. ABELLA)