Benpres Insurance: the ‘Little’ Company That Could
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October 2005 Benpres Insurance: The ‘little’ company that could By JG Javier IT may not be huge or glamorous, but Benpres Insurance Agency Inc. (BPIA) may well serve as the Lopez Group’s “poster child” for longevity: The agency got through Martial Law relatively un- scathed and has shown steady growth since it was established al- most 40 years ago. A general agent representing different insurance companies, BPIA was established in 1968 as the life insurance division of the Agricul- ture Fire Insurance Co. (AFISCO) and was incorporated as a separate life insurance agency called AFISCO Insurance Agency in 1971. 2nd Oscar The agency—one of only two Lopez companies left untouched dur- ing the Marcos dictatorship—adopted its present name in 1983 to high- Awards... p.4 light its relationshipwith Benpresand its subsidiaries. As BPIA, the erstwhile three-man organization quickly became a force in the life and nonlife insurance industry. It was one of the topgeneral agencies of In- sular Life, and earned the sought-after General Agency Award in 1987. Today, BPIA is a lean and mean Makati-based organization of around 30 people, led by Ma. Margarita Lopez-Lichauco as president and Manuel “Beaver” L. Lopez Jr. as executive vice-president. They are ably supported by Lopez Group stalwart Ramon “Mon” A. Sanchez, who, as general manager, oversees the company’s operations, particularly its finance/admin- istration and marketing divisions. According to Sanchez—a “second-generation” member Ramon Sanchez, BPIA general of the Lopez Group as his father, Atty. Domingo Sanchez, manager was assistant comptroller of Meralco during the time of Turn to page 6 KCFI, AFI win in Asian CSR Awards '05 SKYCABLE and the Knowledge Channel Foun- dation Inc. (KCFI) and the ABS-CBN Founda- tion Inc. (AFI) were honored for their outstanding corporate social responsibility programs at the third Asian CSR Awards held on September 9, 2005 in Jakarta, Indonesia. SkyCable and KCFI won the topaward in the Support and Improvement of Education category, while the "Bantay Kalikasan" program of AFI emerged runner-upin the Environmental Excel- (L to R) Dario Pagcaliwagan of Lopez Group Foundation Inc.; Paolo Canivel of lence category. KCFI and AFI are members of the Knowledge Channel Foundation (KCH); Roberto F. del Rosario, AIM president; Rina Lopez Group Foundation Inc. (LGFI). Lopez, KCHpresident; Carlo Katigbak, Central CATV Inc. chief operating officer; Ramon V. del Rosario Jr.; Dr. Arifin M. Siregar and Felipe Alonso, AFCSR 2005 co- Turn to page 4 chairs. 2 LOPEZLINK October 2005 Meralco cuts rates by 23 ctvs per kWh in Sept By Maite Bueno (NPC)—in August. or 15.03 centavos per kWh, while those “We are beginning to realize the bene- In addition, system loss charge by deliv- consuming 100 kWh will get a reduction fits of allowing the IPPs to run at contract- THE Manila Electric Company (Meralco) ery voltage also went down. The decreases of P18.41 or 18.41 centavos per kWh. Cus- ed levels since it brings down generation reduced its rates by as much as 23 centavos ranged from 0.33 centavos for 115 kV cus- tomers with consumption beyond the life- costs and eventually the rate of electricity per kilowatt-hour due to the combined ef- tomers to 2.57 centavos for residential and line level will have a reduction of 23 cen- as seen in the reduction in Meralco’s fect of the reductions in the generation and other secondary customers. The Power Act tavos per kWh. September bills,” Cuna said. system loss charge components of the un- Reduction, a discount in the residential bundled bill. bills, slightly improved by 0.36 centavos According to Meralco vice-president per kWh from P0.1997 to P0.2033. ’Unfair competition’ Elpi Cuna, the 19.43 centavo-reduction in The bills of lifeline residential cus- Pasay todo the generation charge was due to the in- tomers consuming 50 kWh will decrease suit laban sa ABS, creased generation of Meralco suppli- by P5.82 or 11.64 centavos per kWh. ers—the independent power producers Those consuming 70 kWh will experience suporta sa ibinasura ng SC (IPPs) and the National Power Corporation a P10.52 decrease in their electricity bills IBINASURA ng Supreme Court ang petisyon ng ‘tempfacil’ GMA-7 na i-overturn ang pag-dismiss ng lower court ng damage suit nito laban sa ABS-CBN at mga kaalyadong cable firms na nagkakahalaga project ng ng P10 milyon. Ayon sa September 23 decision ng SC, tama ang Quezon City Regional Trial Court sa ruling Maynilad nito na ang National Telecommunications Commission ang may primary jurisdiction sa By Jennifer Casipit kaso sa dahilang technical issues ang kailan- gang maresolba. BILANG maagang pamasko sa mga res- idente ng Pasay City, nagpasinaya ang Dinahilan ng GMA sa lower court na ni-rechan- Maynilad Water Services Inc. ng bagong nel ng ABS-CBN at ng mga kaalyado ang cable proyekto na makapagbibigay ng sapat at broadcast nito, na naging sanhi ng pagkasira ng sig- malinis na tubig para sa mga residente nal ng GMA. Nagawa umano ang nasabing pag- ng lugar. rechannel dahil sa “common ownership at inter- Ang groundbreaking ng nasabing locking relationship” ng respondent corporations. proyekto ay ginanap noong Setyembre “Ang mga nireklamo ng GMA na ‘wrongful 16 sa Betty’s Vermillion Academy sa acts’ na batayan ng hiningi nitong damages ay Pasay, sa pangunguna ni Pasay mayor may kinalaman sa operation at ownership ng Wenceslao Trinidad, Maynilad president mga cable companies. Ang mga ganitong us- Fiorello Estuar at Metropolitan Water- apin ay dapat ihain sa NTC at hindi sa regular works and Sewerage System administra- courts,” sabi ng SC. Meralco, Haribon renew partnership tor Orlando Hondrade. Sa katunayan, may parehong kaso nang Meralco recently renewed its partnership with the Haribon Foundation for the Conservation of Ang “S-2 tempfacil project” ay mag- pending sa NTC. Wala ring cause of action na Natural Resources Inc., which covers the "Boto Para Sa Inang Bayan" campaign, "Paraisong papalit ng 46 kilometro na lumang linya pinaka" billboards, the Haribon-Meralco biodiversity information drive and the use of the sinaad ang GMA laban sa ABS-CBN at sa ng tubig sa distrito ng San Roque at San ibang respondents, dagdag pa ng SC. Lopez Building Mini Theater for the Haribon Forum every month. The "Boto Para Sa Inang Rafael sa Pasay. Inihayag ni Estuar na Bayan" campaign aims to raise one million signatures to stop illegal logging and mining while Maliban sa ABS-CBN, ang ibang respon- "Paraisong pinaka" calls for biodiversity conservation. An education campaign, on the other ang konstruksyon para sa proyekto ay dents ay ang Central CATV Inc., Pilipino Cable hand, will be put in place to support the biodiversity information drive. Signing the memoran- matatapos sa loob ng 120 na araw Corp. at Philippine Home Cable Holdings Inc. dum of agreement for Meralco were chairman & CEO Manuel M. Lopez, president & COO Je- lamang dahil gagamit ng temporary fa- sus P. Francisco and first vice-president and head of HR and corporate services Leonisa C. de cilities o “tempfacil” ang Maynilad. la Llana. Signing for Haribon was president Fr. Jose Mario C. Francisco, SJ, with executive di- “Inaasahan namin na bago mag-Pas- rector Anabelle E. Plantilla. (Maite Bueno) ko ay maganda at malakas na ang supply ng tubig dito,” ani Estuar. Hiniling ni Estuar sa mga residente Drive to expose ang kanilang pang-unawa, sa dahilang makakaapekto sa daloy ng trapiko ang cable TV thieves First Gen nag-file sa paghuhukay na gagawin sa mga kalye upang mapalitan ang lumang pipeline sa lugar. gains ground Tinawag naman ni Mayor Trinidad na THE intensified campaign against the prolifera- isang “landmarkproject” ang S-2 temp- tion of illegal cable television connections has SEC para sa IPO facil project. gained momentum with full support on the com- “Ako, kasama ng mga mamamayan NAG-FILE ang First Gen Corporation ng Reg- Ang First Gen ang pinakamalaking Filipino- munity level. istration Statement sa Securities and Exchange controlled independent power producer. Ang ng Pasay City, ay nagpapasalamat sa Commission noong Setyembre para sa pag-re- consolidated capital expenditure nito ay um- Maynilad sa dahilang matagal na nam- Subscribers have begun giving information histro ng 151,574,000 hanggang 219,930,900 abot ng P510 milyon noong 2004, P154 milyon ing pangarap na magkaroon ng malakas about incidents of cable TV signal and subscrip- na bagong common shares nito. Gayundin, nag- noong 2003 at P2.2 bilyon in 2002. Noong na supply ng tubig,” sabi ni Trinidad. tion theft, including the identity of individuals who apply ang kumpanya para sa listing ng naturang unang anim na buwan ng 2005, sinabi ng First Ang S2 tempfacil project, na offer the installation of illegal connections. Acting common shares sa Philippine StockExchange. Gen na gumastos ito ng P86 milyon (US$1.5 nagkakahalaga ng P26.7 milyon, ay from tips from subscribers tired of getting bad ca- Ang mga bagong common shares ay milyon) para sa pagbili ng Agusan Mini-Hydro magkakabit ng 9,000 house service con- ble signals and virtually paying for the illegal cable tinatayang magkakahalaga ng mula P51 hang- Plant. nections. Pag nabuo na ang proyekto, connections of others, cable industry personnel re- gang P74 bawa’t isa. Nagtabi ang First Gen ng US$12.7 milyon ang Maynilad ay inaasahang makak- cently conducted a series of raids in Makati City. Inaasahang makakalikom ang First Gen ng para sa capex ngayong 2005 hanggang 2006. abawi ng 46 milyong litro ng tubig kada Residents with illegal connections were invit- araw, na dati ay nawawala lamang dahil gross proceeds na P11.216 bilyon mula sa IPO.