11/12/2020
OUR COMPANY PROFILE
BETHEL GENERAL INSURANCE AND SURETY CORPORATION (Bethel Gen)
is the new corporate name of BF General Insurance Company, Inc. which was
established in 1961. Over fifty (50) years of existence, Bethel Gen is consistently eyeing
to be the first-choice non-life insurance provider by employing young generations to
formulate an innovative marketing platform and strategy to meet the demands of a
market, here and abroad.
On November 22, 2011, Bethel Gen extended its corporate life to another fifty (50)
years when the Securities and Exchange Commission approved its application upon
favorable endorsement of the Insurance Commission.
In December 2016, Bethel Gen conducted major changes in marketing strategy by
expanding its exposures in the country. With the new set of board of directors and
corporate officers, Bethel Gen has been continuously committing itself to its vision to be
first-choice non-life insurance provider with an adequate and competitive insurance
coverages through a client-oriented service.
Bethel Gen has successfully negotiated a large reinsurance capacity, thru PWSLabuan Ltd., and Asia Reinsurance Brokers, one of the top largest global insurance
providers and reinsurance brokers in the world, in all major lines of business (i.e. fire,
engineering, marine hull and cargo and general accident), supported by reputable and
well-rated global reinsurers to back its goal to become a dependable and highly regarded
branch in the jumbo and high value segment of the insurance market.
Resultantly, Bethel Gen has generated financial stability, able to process
insurance claims on time and increase the number of branches and business
intermediaries nationwide. As of December 31, 2018, the company has a Total Assets
amounting Php1,000,600,433.00 and a Networth of Php878,135,233.00.
By reason of the positive outcome principally attributable to the hardworking
people and business partners, the Board of Directors and Stockholders of Bethel Gen
recently approved to increase its authorized capital stock from P300 Million to P600
Million