Pacifica Insurance Underwriters Inc. is expanding its partnership with Century Insurance Co. Ltd. as it becomes only the second insurance company in the Micronesian region to serve as CIC\u2019s general agent beginning Aug. 1, 2004. PIU is an affiliate of Joeten Enterprises while CIC is an affiliate of Tan Holdings Corporation\u2014two locally owned holding companies.<\/p>\n
The non-exclusive agency agreement between the two companies allows PIU to represent CIC in the Northern Marianas with the latter becoming the principal underwriter for all non-life insurance lines that include automobile, marine cargo and hull, workers\u2019 compensation, property, and general accident and casualty.<\/p>\n
The partnership between the two companies began in 1995 when PIU became a broker for CIC. In June 2004, negotiations to expand the business relationship between the two companies began shortly after PIU\u2019s carrier of over 30 years, Tokio Fire & Marine Insurance decided to pull out from the CNMI. <\/p>\n
\u201cIt is our great pride to become CIC\u2019s partner in providing the quality insurance services our clients expect from us. We have always chosen to work with the best. Being partners with another locally owned company gives PIU both the confidence and the security that we will continue to meet our clients\u2019 specific needs,\u201d said PIU chief executive officer and president Norman Tenorio.<\/p>\n
Tenorio said it did not take a lot of convincing for his company to enter into a partnership with CIC since the latter and its owning company have been known for having the financial capacity, human resources capability, strong customer focus and global networking ability.<\/p>\n
\u201cWe are extremely pleased and proud of this partnership with Pacifica Insurance which is part of the biggest companies in the CNMI. I am very optimistic that the alliance between Joeten and Tan Holdings will be a successful one,\u201d said Tan Holdings executive vice president Jerry Tan\u2019.<\/p>\n
On his part, CIC president David M. Sablan said \u201cI am pleased that PIU has chosen to work with us in the insurance business. It is CIC\u2019s honor and privilege to be a part of this partnership,\u201d said Sablan.<\/p>\n
Incorporated in 1988, Century Insurance is also the CNMI\u2019s first full-fledged insurance firm and is an ISO 9001:2000 certified company.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pacifica Insurance Underwriters Inc. is expanding its partnership with Century Insurance Co. Ltd. as it becomes only the second insurance company in the Micronesian region to serve as CIC\u2019s general agent beginning Aug. 1, 2004.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82931","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/82931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=82931"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/82931\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=82931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=82931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=82931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}