Century Insurance was first established in February 1988 as an agent for several multi-national non-life insurance companies. Realizing the growing insurance need of the region, Century Insurance applied for and was granted a Certificate of Authority to operate as a non-life insurance company in October of 1990.

Thus, Century Insurance became the first full-fledged insurance company in the CNMI authorized to underwrite and issue policies on commercial and domestic property insurance, automobile insurance, bonds, personal accident, public liability, workers' compensation, marine cargo and marine hull insurance and general accident insurance. Since 1990, Century Insurance has constantly and consistently demonstrated its commitment and ability to meet the growing demands of the islands by a steady increase in its underwriting capacity. Century Insurance's automatic facilities enable the company to make vital decisions and provide fast, immediate coverage.

Over the years, Century Insurance has committed to continuously re-engineer its services and operations in pursuit of total customer satisfaction.

On April 3, 2006, A.M. Best Co. has affirmed the financial strength rating of B+ (Very Good) and assigned an issuer credit rating (ICR) of “bbb-“ to Century Insurance Co. Ltd. The outlook for both ratings is stable.