Progressive Insurance is an established company with firm roots in the Malaysian insurance industry. Initially incorporated as Sri Bumi Insurance Sdn Bhd on June 8, 1974 and based in Sarawak, the company was re-named Progressive Insurance Sdn Bhd on December 7, 1975. It subsequently expanded nationwide to include Peninsular Malaysia as well as Sabah and Sarawak in its area of operations. The company was converted to a Public Company on May 30, 1997 and the name was changed to Progressive Insurance Bhd.
1982 saw the company relocate its headquarters to Kuala Lumpur to establish a firmer foothold and enable it to compete more effectively with the bigger names in the fast-growing industry. The company's financial equity was significantly strengthened as well - first with Permodalan Bumiputra Sabah Berhad, a state-owned company, becoming a major shareholder in 1987 and then later with the Sabah State Government, in 1988 - 1989, becoming the controlling shareholder of the company.
Progressive Insurance today is a stable and financially-sound entity. The 94% stake that the Sabah State Government and Permodalan Bumiputra Sabah Berhad jointly have in the company, plus its own steady growth over the years have helped realize this.
With a total paid-up capital of RM100 million and a dynamic team of people behind it, Progressive Insurance stands ready to take full advantage of the growing potential of the vibrant Malaysian insurance industry.
Committed to Service Progressive Insurance has what it takes to help you manage your risk. We have extensive experience in a wide variety of risks, and enjoy the firm support of our expanding panel of reinsurers.
Our list of satisfied clients includes many high-profile names and large corporations with whom we continue to maintain successful, long-standing relationships.
The comprehensive insurance programmes we developed for our clients clearly show our ability to effectively manage risk on even the largest of projects. They also reflect the growing confidence more and more client have in Progressive Insurance.
People are, however, what really makes Progressive Insurance work. Our team of experienced professionals is fully committed to providing all our clients the best service.
We appreciate the role good service plays in maintaining a strong partnership and focus our efforts accordingly. From front-desk staff handling your daily enquiries to the most senior management person, each is dedicated to ensuring that all your needs are quickly and competently met.
In addition, Progressive Insurance has invested heavily in a computerization programme designed to further sharpen its service edge. The installation of this advanced technology will improve efficiency and deliver on faster response time to all our customers. This is especially important in the area of claims, where Progressive Insurance is committed to providing fast and efficient processing and payment.