Our Story

MAAGAP Insurance Inc. (formerly MAA General Assurance Philippines Inc.) started its operations in 2001 under its then parent company MAA International Group Ltd (MAAIG), an offshore arm of MAA Holdings Berhad in Kuala Lumpur, Malaysia.

A young and dynamic team ushered MAAGAP into the Philippine non-life insurance industry and emerged with a number of achievements during the infancy of its operation.

In its full year of operations, MAAGAP was able to underwrite Php350 million premiums, placing it among the top leading non-life insurance companies in the Philippines.

To help achieve its vision, MAAGAP captured a respectable retail market share and the machinery for local expansion was set by launching 5 branch offices in the span of 4 years.

The very first branch was launched in Binondo, Manila in February 2003, and within 5 months, the Cebu Branch was inaugurated.

The continuous growth of MAAGAP was evident when other branch offices were established in Dagupan, Davao, Bacolod, Cagayan De Oro, Bulacan, Batangas, Pampanga, General Santos, and Cavite. Several MAAGAP representations have been established thru our agent-partners providing us the opportunity to serve more markets. We continue to progress in our efforts in establishing the MAAGAP footprint throughout the Philippine archipelago.

On its 5th year of delivering quality customer service, MAAGAP attained the ISO 9001:2000 Certificate of Excellence in Quality Management which was awarded by Certification International in November 27, 2006. MAAGAP is committed to adhering to globally accepted quality management standards, and has remained to be among the very few ISO-certified non-life insurance companies in the Philippines.

In December 31, 2022, MAAGAP has complied with the Php1.3 billion minimum net worth requirement pursuant to the provisions of the Amended Insurance Code of the Philippines, a testimony to the growing financial strength of MAAGAP.

Ushering in another milestone in the journey of MAAGAP, last May 3, 2024, Triple P Philippines Pte Ltd., a consortium of Triple P Insurance Holdings Pte Ltd (www.triplepcapital.com) IFC (www.ifc.org) of World Bank, BIO (www.bio-invest.be) of Belgium, FinnFund (www.finnfund.fi) of Finland and DEG (www.deginvest.de) of Germany, completed its acquisition of 85% of MAAGAP which further strengthened the commitment of the Company in realizing its vision to its clients and partners.

MAAGAP is now, more than ever, strategically positioned to thrive within the anticipated Philippine economic trajectory. The proactive stance of MAAGAP amidst regulatory adjustments and industry consolidation underscores its dedication to sustained growth and stability over time.

Today, with its strict adherence to global standards, complemented by its extensive technology infrastructure MAAGAP remains focused in providing quality non-life insurance products and services, in ensuring that adequate financial security is provided to Filipinos, in creating a lasting and enjoyable experience for our clients to do business with MAAGAP, and in establishing a rewarding place to work for our business partners and colleagues.