CIC’s David Silva Co-organizes a Manila
Business Conference
July 3, 2009

Predicting that the imminent military build-up on Guam would be beneficial for both Guam and Manila businesses, 150 business leaders from Manila were invited to a business conference initiated by prominent Guam businessmen. Among those who organized the conference was Century Insurance Co. Guam’s General Manager (GM), David Silva.

Previously the company’s Resident Manager, Silva was appointed as Century Insurance Co. Guam’s General Manager last July 1, 2009.

During the conference, Silva talked about the current captive insurance and financial-services markets on Guam. In an interview with a Manila-based broadsheet, Silva also expressed his hopes of expanding business opportunities between Guam and Manila.

The conference was held at the Renaissance Hotel in Makati from June 30 to July 2.

Century Insurance Celebrates its 1st Anniversary
in Papua New Guinea
June 29, 2009

2008 marked the first time that Century Insurance Co. (CIC) began its operations in Papua New Guinea (PNG). After a year of holding business operations there, CIC is now looking forward to another triumphant season in PNG.

CIC President David M. Sablan together with GM Nel Matanguihan were present during the anniversary celebration of Century Insurance PNG. Sablan congratulated the team led by General Manager Lorraine Auna-Toule for their hard work in the PNG outlet of CIC. 

Tan Holdings President Jerry Tan was also one in celebrating with CIC-PNG.  Tan expressed his pride in the team’s accomplishment, particularly through its international expansion in the South Pacific.

Century Insurance Co. is an affiliate company of Tan Holdings; it offers general insurance services to a diverse clientele.

CIC GETS A B+ RATING
December 4, 2008

Century Insurance recently became part of the distinctive roster of companies having excellent financial strength ratings for both its Guam and the Northern Mariana Islands offices, as awarded with the BestMark seal. The seal is the industry’s distinction by rating body A.M. Best Co., determining an insurance company’s abilities to meet its obligations to policy holders, utilizing over 100 key financial tests and supporting data to arrive at such. A.M. Best Co. has affirmed the financial strength rating of B+ (Good) and the issuer credit rating of “bbb-” (Good) for Century Insurance Co., Ltd. in the Northern Mariana Islands and garnered the same rating for Century Insurance Company of Guam. The outlook for both ratings is sound and stable.

The ratings reflect CIC Saipan’s solid market position on Saipan, improvement in premium leverage and stable investment income. The ratings also acknowledge the company’s efforts to achieve a better spread of geographical risk through steady business expansion in Guam and its plan to lower its asset risk on a stand-alone basis by transferring its affiliates-Century Insurance Company of Guam and Century Insurance Papua New Guinea-to its immediate holding entity, Tan Holdings Corporation.

For Guam, the ratings reflect CIC Guam’s adequate capitalization, sound underwriting result and stable investment income. The ratings also recognize the continual operational support from Century Insurance Co., Ltd. (CIC Saipan), though the ownership of CIC Guam will be transferred to its ultimate parent, Tan Holdings Corporation.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.