Trivia about Grepalife
As the Philippine economy regained composure in the wake of World War II, five distinguished individuals – Don Antonio de las Alas, Don Alfonso Sycip, Hon. Jorge Vargas, Romeo Villonco and Alfonso Yuchengco – perceived a potential growth area in the financial services arena. Realizing the need for liberalized underwriting for special medical cases and low-income groups, together they seized the opportunity and established the Great Pacific Life Assurance Corporation on March 15, 1954.
Anchoring the new company on the values of trust and integrity, the directors invited renowned diplomat, Hon. Carlos P. Romulo, to be the company’s first president. Holding the reigns of the emerging corporation, the respected chief executive steered the enterprise through its early years as an all-Filipino company and 12th insurance provider in the country.
With great nationalistic pride, Grepalife became known as the first local company to challenge foreign competition in the industry. With consumer spending on the upswing, it introduced a host of new strategies to capture the expanding life insurance market. Prior to the company’s 10th anniversary, Group Credit Life Insurance and the Instant Life Program were established as premier products that provided wider coverage and better protection.
In 1967, a partnership between Grepalife and Worldwide Memorial Trust gave birth to Pacific Memorial Plan as a new subsidiary and first pre-need carrier in the country. A year later, Grepalife, along with the other members of the Yuchengco Group of Companies, adopted the blue hexagon as official logo, signifying the strength of synergy within the mammoth conglomerate.
At the turn of that decade, co-founder Alfonso T. Yuchengco assumed the presidency and inaugurated the GPL Building at 221 Buendia Avenue, Makati City – the edifice that houses the company’s main headquarters to this day. During his term, the key executive likewise set up another wholly owned subsidiary, Pan Pacific Computer Center, as the information gateway for faster and more efficient handling of policyholder data. The Grepalife Educational Fund for children of company employees and sales associates was also instated, underscoring a deep sense of corporate responsibility. It eventually served as the forerunner of the AY Foundation, Inc.
With the historic victory of the 1986 People Power Revolution, Grepalife continued to thrive as the entire nation commenced rebuilding and healing itself. Similarly, the company saw dramatic changes as its infrastructure projects yielded a new building in Cebu for its regional office, as well as those of subsidiary Pacific Plans and sister companies Malayan Insurance and Rizal Commercial Banking Corporation.
Through the years, product development took progressive strides towards more comprehensive protection and benefits for the company’s growing client base. New products dynamically responded to emerging market needs – including children’s education, insurance and investment, dollar savings, retirement, estate conservation, and group insurance. And as the industry gained further momentum and strength, so did the company grow by leaps and bounds with a combined force of about 2,500 agents and a nationwide network of regional and branch offices.
Today Grepalife keeps its sight on new growth potentials and opportunities while securing the future of over a million lives it has insured to date. With lessons learned from 50 years of experience, it draws from a wellspring of wisdom and fortitude to navigate the waves of change and bring confidence into the heart of the industry and its customers. With renewed vigor and resolve, it pursues a new direction that closely focuses on sales and service excellence as the pathway to market leadership, even as it continues to uphold the core values that have brought it much success.
Half a century after its establishment, Grepalife aspires more than ever the best life Insurance and financial services company to its customers, sales partners, employees and stakeholders. This corporate vision guides its every step and every endeavor as the company forges ahead into the future. With the greatest pride for becoming part of the Filipino’s life, it ventures further into the 21st century, firm in its commitment to serve as a r rstone of the count’s economy and the Filipino’s partner in building a great life.
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