Sources say that Ecuador insurance company Bellgenica is out of business

Nov 24, 2018

Sources familiar with Ecuadorian insurance provider Bellgenica report that the company has closed its operations. The company, which aggressively marketed its services to foreign residents in Cuenca and elsewhere, was not answering phone calls Friday afternoon at its Quito headquarters and its office doors were locked.

It is believed that the company, at one time, had 300 to 400 expat health insurance policy holders in the Cuenca area.

Quito insurance broker Ricardo Sanchez reports that he was turned away from Bellgenica’s headquarters at the Quito World Trade Center Friday when he attempted to enter. He says guards provided no explanation for his denial of entry.

Meanwhile, Bellgenica’s Cuenca landlord, who asked not to be identified, says the company is seven months behind in rent. He reports that his legal representative was in Quito Friday preparing legal action to collect back rent.

Cuenca expat Garnett Stewart also says the insurance company owes him money. “I was an English-speaking consultant with Bellgenica in March 2018 but left because the company was not being transparent,” he says. “I was a victim of non-payment, as many other members have been, and was never paid for my services.”

Earlier in the year, Bellgenica corporate officers promised on several occasions to provide information to CuencaHighLife about the company’s financial health and plans to improve service but did not follow through. On two occasions, company representatives did not show up for scheduled meetings.

In addition to Quito and Cuenca, Bellgenica also has offices in Guayaquil, Manta, Loja and Machala.

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