Welcome to Solid Guaranty
SOLID GUARANTY is a non-life insurance company which has been in existence since 1964. The Company was
founded by the late Don Antonio P. Madrigal and Don Jose P. Madrigal, sons of eminent Filipino industrialist and
former senator of the Philippines, Don Vicente Madrigal. The Madrigals presently own 83% of the Company.
The Company's authorized capital stock has been increased from P75 Million to P350 Million.
Of this increase, the Madrigals subscribed to P156 Million. Presently, the company has a paid up capital
of P142.5 Million and the stockholders have committed to increase the level to P200 Million by the end of 2010.
At a Paid Up Capital of P200 Million, Solid Guaranty would be among the largest non-life insurers
in the country in terms of capitalization, providing solid protection to its clientele.
Presently, the BELEK, Inc. is the majority owner of Solid Guaranty controlling 53% of the company
shares. The BELEK, Inc. owns the Madrigal Properties which manages a number of real estate properties
in Manila and nearby provinces. The Belek Inc is spearheaded by Vicente Madrigal III, Gerardo Madrigal
and Ms. Terri Madrigal, children of Don Jose Madrigal.
The Company has a large reinsurance capacity supported by reputable foreign reinsurers.
For 2010, it has a P560 Million reinsurance facility for property cover, P 150 Million for
Engineering, marine cargo at P76 Million and P68 Million for General Accident and Casualty
The Company is now being managed by a new professional management team who has extensive
experience in non life insurance. It is committed to be the "company of choice" for
non-life insurance products.
Notice To Our Clients And Business Partners
We are pleased to announce the new composition of the Solid Guaranty Board of Directors
effective November 18, 2010, to wit:
1. Vicente A.S. Madrigal II - Co-Chairman
2. Gerardo A.S. Madrigal - Co-Chairman
3. Jose B. Zuniga - Vice Chairman
4. Terri A. Madrigal - Member
5. Eleonor C. Relente - Member
Further, we wish to announce that Belek Inc., has recently acquired the stake of almost
all of the Solid Guaranty’s minority stockholders thereby increasing their interest on the Company
to 93%. Belek Inc., is prepared to meet and exceed the increased capital requirements being implemented
by the Insurance Commission.
Belek Inc. which operates the Madrigal Properties Inc is 98% owned by Mr. Vicente A.S. Madrigal II and
Gerardo A.S. Madrigal. Madrigal Properties Inc., is engaged in the real property development, leasing and
management in various PORTS in the country. The principal stockholders of Solid Guaranty are known
in the business community for fair dealings, possess a solid business reputation and still regarded
as one of the most solvent and liquid business groups in the country.
The new Solid Guaranty is committed and will continue to provide the same high quality products and
services on which we are building our reputation. The new set of Board of Directors and the principal
stockholders are committed to carry on the objectives envisioned for the reinvigorated Solid Guaranty.
VISION 2014
SOLID GUARANTY shall be a highly profitable large non-life insurance company.
It shall be the "company of choice" for non-life insurance products.
MISSION STATEMENTS
We are a Company allied with the prestigious Madrigal Group.
We are a highly productive company, known for honest, reliable and excellent service
to its clients, continuously developing a wide range of highly innovative and customer
oriented products which are provided at competitive rates.
The welfare of our employees, the needs of our stockholders, the goodwill of our business
partners including reinsurers, brokers, insurance companies and agents and the well being of
the community we serve, are among our most important concerns.
OUR CORE VALUES
- SERVICE: Excellent and dedicated service to our customers.
- OPTIMISM: Upbeat, positive thinking, confident of oneself and the Company we represent.
- LEADERSHIP: Innovative, energetic, experienced, and proactive.
- INTEGRITY: Honesty and fairness in our dealings.
- DEDICATION: love of work, loyalty to the Company and to the customers. We "go the extra mile".