Stressing that CLIMBS entry into the international insurance business is a rare opportunity and a unique feat: clearly a sign of success. As pointed out by its President and CEO Fermin L. Gonzales, CLIMBS will enter into a partnership with cooperatives in Nepal with the support of the Nepalese government.
CLIMBS member-investors during their general assembly on April 25-26, 2014 in Cebu City, gave their imprimatur to the venture, that’s why CLIMBS management is now full swing into the ball-game.
According to Gonzales, the launching of the partnership is expected to take place this July and will start operating within the first quarter of 2015. Although, it is premature to celebrate, it cannot be denied that such development is really amazing and historic at the same time. It is the first time that an insurance cooperative from the Philippines will do business in another country. This is indeed trailblazing, awe-inspiring and a source of pride. In fact, that CLIMBS business model will be used in this undertaking.
This development happened not only due to the brilliance and business acumen of the management and consultants but also because of the trust and confidence of the members to the people who run and manage CLIMBS.
Through the years, member-investors of CLIMBS have shown unwavering support to the organization by investing not only on share capital, patronizing its services but also in giving encouragement and hope to the entity. Such gestures have fuelled the passion and commitment of those tasked to bring CLIMBS to its rightful place in the sun.
As CLIMBS enters into its 43rd year of existence, and as it sets foot into the international arena of insurance business, the pressure to succeed is quite daunting because this opportunity to some extent will affect the future of CLIMBS in terms of track record, reliability and even prestige.
This challenge, however, would become easier to hurdle with our prayers and support, both moral and material to CLIMBS. And why not, after all, the success of CLIMBS is also our success and the success of the coop movement in the Philippines.
Source: The CLIMBS Journal, Vol.1 No.25