PUIC was founded on June 5, 1945 by the late Don Aurelio Periquet Sr. who was a pioneer in the industry. The company was granted Certificate of Authority No. 1 on July 21, 1945 by the President of the Philippines thru the Insurance Commissioner to write fire, marine, automobile, accident, and miscellaneous lines to act as surety on official recognizances, stipulations, bonds and undertakings.
A historical note is that the first bond issued by Pacific Union was in behalf of former President Jose P. Laurel Sr. in favor of then Commonwealth of the Philippines.
During a certain period when the Government Service Insurance System (GSIS) could not readily obtain domestic reinsurance, the Company was singled out to exclusively handle the reinsurance requirements of the GSIS. Consequently, Pacific Union was voted “Insurance Firm (Non-Life) for the year 1952” by the Business Writers Association of the Philippines.
In its 70 years of existence, the company still maintains its prudent approach in underwriting with the objective of achieving a quality portfolio and customer satisfaction through prompt service and efficient claims handling.
Under its new management, the Board of Directors is composed of young and dynamic businessmen and professionals whose forecasts are impressive and high-powered. They are Mr. Roy G. Padiernos, Chairman of the Board; Gay G. Padiernos, Ms. Joy P. Carlos, Atty. Perla P. Huerto, Jan Adrian DL. Padiernos, Grace T. Lim, Gregorio B. Sta. Maria, Jr., members.
The Company is strengthened by treaty facilities provided by leading reinsurance companies here and abroad, enabling Pacific Union to provide automatic coverage on risks with its excess subject to availment of facultative reinsurance.
The Company boasts its accreditation with various banks and financing institutions as well as government entities giving us a wider mileage in servicing.