Cosmopolitan Memorial taps CLIMBS as pre-need partner

MANILA, Philippines — Cosmopolitan Memorial has entered into a partnership with CLIMBS, a growing life and non-life insurance and financial institution, to better serve its customers.

With a wide network of partner cooperatives, namely ACDI Multi-purpose Cooperative, Bohol Diocesan Multi-Purpose Cooperative, Guadalupe Koop, Independent Cooperative Movement of Employees of Davao, Metro Ormoc Community Multi-Purpose Cooperative, Oro Integrated Cooperative, PHCCI Dumaguete, Sta. Catalina Multi-Purpose Cooperative, Tagum Cooperative and Toril Community Cooperative) and Cosmopolitan and partners (Cosmopolitan Funeral Homes Inc., Cebu International Finance Corporation, San Fernando Funerals, Sta. Lucia Realty & Development, Inc. and VT & Associates), Cosmopolitan said CLIMBS is a fitting choice to spearhead their partnership.

CLIMBS was registered with the Securities and Exchange Commission (SEC) on Dec. 7, 2016.

It was further enlisted at the Insurance Commission and received its Certificate of Registration as well as its License to Act as a Pre-Need Company, approved and signed by Insurance Commissioner Dennis Funa last Aug. 9.

Founded by lawyers Aquio Pimentel and Mordino Cua in Cagayan de Oro City, CLIMBS has net assets of P1.96 billion, with total life confirmation of cover (COC) for nearly 3.5 million individuals, net premium of P1.107 billion and non-life premiums of P300 million in 23,941 policies.

CLIMBS started as an experiment in mutual protection for coop members with only six members in 1971. From there, it reinvented itself to properly respond and cater to the needs of its cooperative partners and embarked into assurance partnerships with primary cooperatives to enhance profitability and entrepreneurship. It also acted as a distribution channel of insurance products and services to members.

It is now a group of coop-business with CLIMBS Life and General Insurance Cooperative as its flagship and established subsidiaries such as CLIMBS Financial Services Agency (CLlFSA), CLIMBS Real Estate, CLIMBS Federation (Holding Company), CLIMBS Institute of Financial Literacy (CIFL), CLIMBS Capital Equity Investment Fund Corp. (CSCEIFC), CLIMBS Investment Management and Advisory Corp.

Cosmopolitan Funeral Homes meanwhile, has been in business since 1950, founded by Renato Dychangco Sr. It has already served thousands of families, expatriates and balikbayans who seek better services for their memorial needs.