GOVPH

The LBP (Land Bank of the Philippines) Insurance Brokerage, Inc. (LIBI) was organized as a wholly owned subsidiary of Land Bank of the Philippines on October 22, 1981 under Securities and Exchange Commission (SEC) Registration No. 105764. On May 16, 1983, its Articles of Incorporation was amended increasing the number of Directors of the Board from 9 to 11. This was further amended on October 17, 1994 increasing the LIBI's Authorized Capital Stock from P20,000,000 to P300,000,000 and revising its secondary purpose.

It was created primarily for the purpose of engaging in the business of general insurance brokerage management and consultancy more particularly as follows:

  To act as Insurance Broker for Life, health, accident, motor car, casualty, surety and fidelity, marine cargo and hull, comprehensive liability insurance and other insurance coverage allied with an incident to the above-mentioned lines.

  To engage in management and consultancy work on insurance and in this connection, to hold, own, purchase, acquire, underwrite, obtained participation in and manage the business of any corporation, partnership or equity.