CLIMBS see huge market in CDO

By JOE PALABAO, CorrespondentTHE construction of the multi-million peso COOP LIFE Insurance and Mutual Benefit Services (CLIMBS) building is now underway, a manifestation of the company’s confidence in Cagayan de Oro’s vibrant economy.

The P20-million two-storey structure will soon stand on a 2,200 square meter vacant lot of CLIMBS, just beside its main office in Barangay Bulua, Cagayan de Oro City.
COOP LIFE Insurance and Mutual Benefit Services is duly license to operate by the Insurance Commission, the only cooperative insurance in the country and founded in Cagayan de Oro in the 70s tagged as the Grassroots Insurance of the Philippines.
COOP LIFE has a total assets ofP307,958.00 covering the insurance needs of cooperatives all over the country, with an all-time high net surplus of P 20.6 and with insurance net premiums of P214, 162.245.

It has expanded its business to include non-life insurance products, and established its marketing subsidiary the Coop Life Insurance and Financial Services Agency (CLIFSA) with it main office at Tiano-Pacana Sts.,
CLIMBS President and CEO Fermin L. Gonzales told Business Week Mindanao that the construction of the building is timely because Barangay Bulua is now becoming a growth center and business hub of the city.

He said that the commercial building is expected to generate revenues to CLIMBS just like the oold building of the company in Tiano-Pacana Sts., which has been earning about P80,000 a month from office rentals and other economic activities.