MANILA, Philippines - Certification International U.K., Ltd recently upgraded Malayan Insurance's certification from ISO 9001:2000 to ISO 9001:2008. The confirmation was based on the successful audit of Malayan's Quality Management System (QMS) conducted in 2010.
ISO 9001:2008 is a new standard model for a well planned quality management system, a foundation for organizations seeking disciplined and controlled processes to help achieve customer satisfaction and continual improvement.
Certification International especially cited the strengths of the Malayan's QMS and the activities that have been initiated by the company's different departments to meet their quality objectives, and ensure external and internal customer satisfaction. The certification is a testimony to Malayan's mission to provide service excellence and world-class insurance protection for its clients.
Malayan Insurance is currently celebrating 81 years of service excellence, strength and stability. Founded in February 1930, Malayan in a member of the Yuchengco Group of Companies. The Insurance Commission of the Philippines has consistently ranked Malayan Insurance as the number one non-life insurance company in the country, in terms of gross premiums written and premiums earned, for the past 40 years. It has been given a financial strength rating of B++ (Good) and an issuer credit rating of "bbb" by A.M. Best, the world's most authoritative insurance rating company. Malayan Insurance has likewise received a "BB" positive rating from Standard & Poors.
Eleven Filipinos are included in Forbes’ 2015 list of richest people in the world. Filipino-Chinese tycoon Henry Sy Sr. continues to be the wealthiest man in the Philippines. The 90-year-old SM supermalls, banking and property tycoon ranked 73rd among the world’s richest with an increased net worth of $14.2 billion from $11.4 billion last year. Sy’s net worth was attributed to the continued growth of his SM Investments Corp. and his more recent venture, the City of Dreams Manila resort and …