What Fortune General Insurance does

Fortune General Insurance Corporation (FGEN) is a privately held, Philippine-domiciled non-life insurance company incorporated on June 13, 1955 as Mutual Security Insurance Corporation and currently majority-owned and controlled by Ambassador Antonio Cabangon-Chua through the ALC Group. FGEN operates as a generalist non-life insurer writing motor (Compulsory Third Party Liability and Motor Car), property (Fire Residential, Surety Bonds), casualty (Comprehensive General Liability, Personal Accident, Fidelity Guarantee, MSPR), engineering (CAR, EAR, Electronic Equipment, Machine Breakdown), marine (Marine Cargo, Marine Truck Risk), travel (Travel Secure), OFW (Overseas Filipino Worker), and specialty (Mosquitronella dengue/Zika/chikungunya) coverage across individuals, families, homeowners, motor vehicle owners, businesses/contractors, and overseas workers.

Revenue is earned primarily through upfront or annual insurance premiums across these product lines, with pricing tiered by vehicle class, sum insured, and plan level — CTPL starts at PHP 300/year, Mosquitronella is PHP 350 one-time for one-year coverage, Travel Secure plans range PHP 340.98 onward with coverage from PHP 500,000 to PHP 2.5M, and Fire Residential and CGL pricing scales with building value or business class and floor area. Distribution combines an agency/producer network (producers.fgeninsurance.com), direct-to-consumer online self-service through multiple product-specific portals, and more than 20 physical branch offices and IBA servicing partners across NCR, Luzon, Visayas, and Mindanao, supported by roadside assistance via a partnership with Ibero Asistencia and a government-channel group-insurance program with MMDA/PIRA/PIC. As of 2022 the company reported Net Worth of PHP 1.3 billion and Total Assets exceeding PHP 1 billion, with capitalization raised in March 2021 to support continued premium growth.

Name

Fortune General Insurance

Legal name

Fortune General Insurance Corporation

Website

https://fgeninsurance.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

51–100 employees

Short description

Fortune General Insurance Corporation is a privately held Philippine non-life insurer writing motor, property, casualty, engineering, marine, travel, OFW, and specialty micro-insurance products through a nationwide branch network and digital self-service portals. It primarily serves individual motor vehicle owners, homeowners, families, businesses, and overseas Filipino workers across the Philippines.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Life, Health, and Medical Insurance Carriers (52411), Agencies, Brokerages, and Other Insurance Related Activities (5242), Other Direct Insurance (except Life, Health, and Medical) Carriers (524128)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Surety Insurance (6351), Accident & Health Insurance (6321)

akta.pro primary industry

Commercial Auto & Fleet Insurance (FSAJAMAB)

akta.pro secondary industries

Personal Auto Insurance (FSAJAMAA), General Liability Insurance (FSAJAMAE), Travel & Accident (Non-Life) Insurance (FSAJAMAN), Product Liability & Recall (FSAJAGAG)

Keywords

• Non-life insurance
• Motor insurance
• Property insurance
• Personal accident insurance
• Travel insurance

Headquarters

HQ city

Manila

HQ country

Philippines

HQ region

Asia

Offices22 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Non-Life Insurance Premiums: FGEN Insurance generates revenue through underwriting non-life insurance products including Motor (CTPL, Motor Car), Property (Fire Residential), Casualty (CGL, Personal Accident, Surety Bonds, Fidelity Guarantee), Engineering (CAR, EAR, Machine Breakdown, Electronic Equipment), Marine (Marine Cargo, Marine Truck Risk), Travel Insurance, OFW Insurance, and Mosquitronella (Dengue/Zika/Chikungunya coverage). Revenue is primarily earned through insurance premiums collected upfront or annually.
2. Insurance Products - One-Time: Some products like Mosquitronella (PHP 350 one-time payment for one-year coverage) and certain group insurance policies are offered as one-time premium payments.
3. Bidding and Salvage Operations: FGEN operates a bidding platform (fgeninsurance.com/bidding) for total loss vehicles, generating revenue from the sale of salvaged vehicles to winning bidders, with cash bonds required for participation.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Fortune General Insurance Corporation is a non-life insurance company that underwrites and distributes a comprehensive portfolio of insurance products in the Philippines, including motor insurance (CTPL and Motor Car), property insurance (Fire Residential), casualty insurance (CGL, Surety Bonds, Fidelity Guarantee, MSPR), engineering insurance (CAR, EAR, Electronic Equipment, Machine Breakdown), marine insurance (Marine Cargo, Marine Truck Risk), personal accident, travel insurance, OFW insurance, and a specialized product called Mosquitronella covering dengue, zika, and chikungunya. The company sells these insurance products directly to consumers and businesses through its website, digital portals, a network of licensed agents and producers, and a nationwide branch network.

Product overview

Fortune General Insurance Corporation (FGEN) is a non-life insurance company offering a comprehensive portfolio of insurance products and digital platforms. The core product suite includes Motor Insurance (CTPL and Motor Car), Property Insurance (Fire Residential), Casualty Insurance (CGL, Surety Bonds, Fidelity), Personal Accident, Travel, Engineering, Marine, OFW, and specialized products like Mosquitronella (dengue/zika/chikungunya coverage). The company also provides digital platforms including FGen Online Portal for policy management, payments, and claims processing, and a Bidding Platform for salvage vehicle auctions. The product architecture follows a platform-plus-products model where the digital infrastructure supports both direct sales and producer/agent distribution channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Compulsory Third Party Liability (CTPL) Insurance Mandatory third-party liability coverage for vehicle owners, required by the Land Transportation Office (LTO). Covers medical expenses, disablement benefits, and death benefits for third parties. Premiums start at PHP 300 per year for trailers/motorcycles and PHP 600 for private cars, with 1-year or 3-year coverage options.
• Travel Secure Travel insurance providing trip protection, emergency assistance, and financial reimbursement for travel-related losses. Offers plans with coverage up to PHP 2.5 Million (Travel 500: PHP 500,000; Travel 1000: PHP 1 Million; Travel 2500: PHP 2.5 Million).
• Individual/Family Personal Accident (PA) Comprehensive personal accident insurance covering accidental death, dismemberment, hospitalization, and medical expenses for individuals and families worldwide, 24/7 for 365 days. Plans from PHP 100,000 to PHP 1,000,000 sum insured, with options for spouse, parents, and children.
• Mosquitronella Specialized dengue, zika, and chikungunya insurance providing lump sum medical cash assistance and accidental death benefits. One-time payment of PHP 350 for one-year coverage for ages 0-70 years, with PHP 10,000 medical reimbursement and PHP 10,000 accidental death benefit.
• Comprehensive General Liability (CGL) Insurance Business liability insurance covering bodily injury, property damage, and personal or advertising injuries. Includes legal defense costs and can be customized with coverage limits and deductibles. Available for over 80 business types; sample pricing starts at PHP 626.25.
• Fire Residential Insurance Property insurance covering fire, lightning, earthquakes, typhoons, and floods. Includes enhanced packages with accidental death coverage and tailored coverages for homes, buildings, and personal belongings. Pricing based on building classification (Basic/Luxury/Elegant) and construction cost per square meter.
• Motor Car Insurance Vehicle insurance covering own damage from accidents, theft, fire, and malicious acts. Includes 24/7 roadside assistance partnership with Ibero Asistencia.
• Surety Bonds Contract of suretyship guaranteeing contract completion. Involves three parties (principal, obligee, surety), protecting businesses from losses due to non-compliance.
• Engineering Insurance Coverage for construction and installation risks including Contractors All Risk (CAR), Erection All Risk (EAR), Electronic Equipment, and Machine Breakdown insurance.
• Marine Cargo Insurance Insurance coverage for goods transported by sea, protecting against loss or damage during shipping.
• Marine Truck Risk Insurance Insurance coverage for risks associated with truck-based marine cargo transportation.
• OFW Insurance Insurance products specifically designed for Overseas Filipino Workers, providing coverage and protection for workers abroad.
• Casualty Insurance Broad category of insurance including fidelity guarantee, money, securities and property risks (MSPR), and other casualty coverages for businesses.
• FGen Online Portal Digital platform for customers, producers, and employees to manage policies, make payments, file claims, and access insurance services online.
• Bidding Platform Online auction platform for total loss vehicles, allowing bidders to register, place bids, and purchase salvaged vehicles from FGEN.

Quantifiable outcome

• PHP 200,000 Death Benefit coverage under CTPL insurance
• +5 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor and core.

• MMDA (Metro Manila Development Authority)minorStrategic or Co-development PartnerFGEN Insurance partnered with MMDA, the Philippine Insurers and Reinsurers Association (PIRA), and Philippine Insurers Club (PIC) to provide free non-life insurance coverage for all MMDA traffic enforcers in Metro Manila. The group insurance policy includes Accidental Death and Disablement (PHP 10,000), Unprovoked Murder and Assault (PHP 5,000), Accident Medical Reimbursement (PHP 1,000), Burial Expense (PHP 1,000), and Motorcycling coverage (PHP 10,000).
• Ibero AsistenciacoreTechnology or IntegrationFGEN Insurance partnered with Ibero Asistencia, a travel assistance service company, to provide 24/7 emergency roadside assistance for motor insurance policyholders. Services include towing, fuel assistance, battery boost, tire replacement, and lockout assistance available around the clock. Contact number: (02) 8459-4793.
• PIRA (Philippine Insurers and Reinsurers Association, Inc.)minorStrategic or Co-development PartnerPIRA collaborated with MMDA and PIC to formalize a memorandum of agreement providing free group non-life insurance for MMDA traffic enforcers, with FGEN Insurance as the issuing company.
• PIC (Philippine Insurers Club)minorStrategic or Co-development PartnerPIC collaborated with MMDA and PIRA to formalize a memorandum of agreement providing free group non-life insurance for MMDA traffic enforcers, with FGEN Insurance as the issuing company.

Scale indicators4 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• PGA Sompo Insurance Corporation: Joint-venture non-life insurer offering motor, fire, marine, engineering, and surety products. Directly comparable to FGEN in product mix and target segments.
• Charter Ping An Insurance Corporation: Major Philippine non-life carrier offering motor, property, marine, casualty, and personal accident products. Comparable multi-line book and similar agent/producer distribution model.
• Prudential Guarantee and Assurance, Inc. Philippine non-life insurance carrier offering motor, fire, marine, casualty, and surety bonds. Competes directly with FGEN especially in commercial lines and surety.
• Paramount Life and General Insurance Corporation: Mid-sized Philippine non-life (and life) insurer offering motor, fire, casualty, and personal accident products. Comparable as a multi-line domestic player in similar customer segments.
• Pioneer Insurance & Surety Corporation: Philippine non-life insurer with motor, fire, marine, casualty, and surety products. Directly competes with FGEN across virtually the same product categories and distribution channels.
• Standard Insurance Company, Inc. Domestic Philippine non-life insurer with motor, fire, marine, and casualty products. Comparable mid-sized multi-line carrier serving similar retail and commercial customers.
• UCPB General Insurance Company, Inc. Philippine non-life insurance subsidiary of United Coconut Planters Bank. Offers motor, fire, marine, casualty, and engineering products directly comparable to FGEN's portfolio.
• Malayan Insurance Company, Inc. One of the largest and longest-running non-life insurers in the Philippines, offering motor, fire, marine, casualty, engineering, and surety lines. Directly comparable to FGEN as a multi-line domestic non-life carrier with broad product and distribution footprint.

Broad incumbents

• AXA Philippines: Large global insurer with significant Philippine operations in non-life (motor, property, personal accident) and life. Comparable to FGEN in product categories but operates at much larger scale and brand strength.
• BPI/MS Insurance Corporation: Bank-affiliated Philippine non-life insurer offering motor, property, and personal accident. Comparable product overlap with FGEN, particularly in bank-channel distribution and personal lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/fgeninsurance
• LinkedInlinkedin.com/company/fgeninsurance

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles33 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fortune General Insurance