The launch coincided with the unveiling of Visayan Surety Insurance Corp.’s (VSIC) newly renovated office on the 14th floor of Kepwealth Center, formerly Keppel Tower, at Cebu Business Park on March 18.
“This office blessing is more than ceremonial. It marks a turning point. We are investing in systems, people, and infrastructure so we can serve faster, operate smarter, and support our clients better,” said Kenneth Go, VSIC president and CEO.
Transformation
“Digitalization will make insurance transactions easier and more convenient, but real transformation begins with our people—working in harmony, embracing innovation, and delivering exceptional service every day,” he added.
As VSIC marks its 95th anniversary later this year, Go said the company has strengthened its leadership bench with seasoned industry professionals and expanded its training programs.
He added that the company’s new location serves as a fresh start, symbolizing its operational maturity and readiness for its next phase of growth.
“With everyone’s support, we will continue strengthening our legacy and bringing the organization to even greater heights,” he said.
Cebu’s own
VSIC is a homegrown, family-led, merger-free company founded in 1931 by businessman Don Manuel Gotianuy, together with former Cebu Governor Jose Leyson, Lim Bon Fing, and seven other Chinese traders. It was established during a global economic recession, built on prudence and long-term stewardship.
Leadership was later passed to Gotianuy’s nephew, lawyer Augusto W. Go, who steered the firm through decades of industry shifts. While Augusto Go now serves as chair, the third generation leads the company, with his nephew Kenneth Go guiding VSIC through a more dynamic and risk-sensitive insurance landscape.
“Our story has always been about building steadily and standing on our own,” Kenneth Go said. “We grew without mergers or shortcuts, guided by discipline, relationships, and a long-term commitment to protecting Filipino businesses and families.”
Steady growth
VSIC’s growth reflects steady expansion in recent years. From P4 million in gross premiums written and P25 million in capitalization in 2004, the company grew to P1 billion in gross premiums written and P1.3 billion in capitalization by 2022.
As of end-2025, its net worth stood at P1.7 billion.
Recent performance reflected natural and climate-related disruptions affecting insured assets and market conditions, with gross premium receipts reaching P903 million in 2024 and P710 million in 2025.
Despite these headwinds, the company remains financially sound and operationally stable, said Edith Suarez, VSIC vice president and chief underwriter.
From offering only two non-life insurance lines—fire and bonds—Visayan Surety now provides 60 non-life insurance products designed for evolving personal and commercial protection needs, she said.
Its distribution network has expanded from just two licensed agents in its early years to more than 150 licensed agents serving clients nationwide, she added. —Ed: Corrie S. Narisma
Contributor
