Pacific Cross Insurance, Inc. ranked first among the Non-Life Insurance Companies in the 2018 ASEAN Corporate Governance Scorecard (ACGS). The ACGS is a tool developed based on industry benchmarks set against international best practices aimed to assess the corporate governance of publicly listed companies. The ACGS sets the standards for the companies to adhere to international corporate governance best practices. It guides the industries to long-term sustainability and resilience leading to attracting more foreign investments and further improving corporate governance standards. 

Out of the 56 non-life insurance companies assessed in 2018, Pacific Cross gained the score of 82.95 (out of the highest attainable score of 128). Pacific Cross’s 2018 performance is also an improvement from their last year’s score. This notable achievement has also contributed to improving the over-all insurance industry’s ACGS average score. Companies were evaluated based on five categories, namely The Rights of Shareholders, Equitable Treatment of Shareholders, Role of Stakeholders, Disclosure and Transparency, and Responsibilities of the Board. Of these five categories, Pacific Cross scored highest on Disclosure and Transparency, and responsibilities of the Board. 

Over the years, Pacific Cross has worked to improve its ACGS performance by applying best practices in good governance.

In its bid to outdo its 2018 performance, Pacific Cross is committed to apply global standards in its daily operations. To help build public trust, Pacific Cross is also moving to improve the public’s perception on transparency by providing vital business information on its official company website. While Pacific Cross recognizes that there is still much work to do, it is confident that through collaborative efforts within the organization, the Company will continue to show marked improvements in its corporate governance.

“Our product is a result of confidence buying. Our business is about building partnerships of trust with our clients and stakeholders. Without the public perception that we are a trusted company, we cannot be differentiated from other insurance companies. Consistently applying the principles of good corporate governance on the way we operate will not only strengthen our integrity and credibility, it will also help us grow our business.”, Deputy Regional Chief Finance Officer and Chief compliance Officer, Ms. Celia D. Imperial said as she stressed the importance of improving corporate governance.

As part of its efforts to strengthen corporate governance, Pacific Cross regularly conducts an annual seminar that aims to guide the Company, especially its leaders, on good governance and business ethics. The seminar also aims to improve the way Pacific Cross deals with valuable stakeholders such as shareholders, employees and officers. Moving forward, Pacific Cross also intends to abide by the Code of Corporate Governance released by the Securities and Exchange Commission.