CEBU PACIFIC (Cebu Air, Inc.) said it renewed its insurance cover with local insurer Pioneer Insurance (Pioneer Life, Inc.).
In a statement, the Gokongwei-led airline said the renewal marks the third time it placed its annual cover with the insurer.
“Over the past two years we have developed an excellent relationship with Pioneer. They understand the risks we face and have developed innovative and effective strategies to help us manage them,” Cebu Pacific President and CEO Lance Y. Gokongwei said.
Unicon, a unit of Cebu Pacific parent company JG Summit Holdings, Inc., acted as the insurance broker in the transaction.
Pioneer reappointed the UK arm of Marsh, a global insurance broking and risk management company, as its reinsurance broker.
Pioneer Insurance and Surety Corp. is the flagship company of the Pioneer Group. Pioneer Insurance specializes in all nonlife insurance lines, including property, marine, motor, and aviation.
