Bethel General Insurance & Surety Corporation (Bethel Gen) is the new corporate
name of BF General Insurance Company, a well-established insurance company founded in
Continuing with the time-honored traditions of reliability, trustworthiness and utmost good faith, the Company extended its corporate life to another fifty (50) years when on November 22, 2011, the Securities and Exchange Commission, upon favorable endorsement of the Insurance Commission, approved its application for extension.
Armed with a new regulatory mandate, peopled with a vibrant new generation of employees, a new set of Board of Directors and Corporate Officers, the Company embarked on a journey to formulate innovative strategies and forward-looking marketing plans to meet the demands of a new and constantly changing market.
The ensuing years saw the implementation of various major steps towards the expansion of its network of Agencies, Branches and Business Development Offices in the country and the successful launch of new products.
Complementary to the expansion in its network and business, Bethel Gen has over the years, always successfully negotiated (and renewed annually) a respectable reinsurance capacity. Dealing with the top global reinsurance brokers, Bethel Gen secures its requirements from rated reinsurance securities.
The new Board of Directors and Management has also guided Bethel Gen towards financial stability. As of December 2020, the Insurance Commission’s report, based on QRSFS (Quarterly Reports on Selected Financial Statistics), has placed the Company well within the ranks of other financially-able insurance companies:
Bethel Gen has a Net Worth of Ps1.3Billion
Bethel Gen has Assets of Ps1.5Billion
Bethel Gen has a Paid-Up Capital of Ps410Million
Recently, the Board of Directors and Stockholders of Bethel Gen has approved that the Authorized Capital Stock of the Company be increased to Ps600Million.