State-run Government Service Insurance System (GSIS) said the Manila Central Post Office, which was destroyed by fire early Monday, May 22, is insured with the pension fund for P604 million.

In a statement, Wick Veloso, GSIS president and general manager, said the damaged Philippine Postal Corp. (PhilPost) building in Manila and its contents are insured with the pension fund for P604 million. With that, Veloso said GSIS is ready to assist in the restoration of the historical building located in the center of Manila.

“To facilitate the insurance claims, we immediately dispatched our adjusters to the fire scene today even though no fire-out has been declared yet. We also deployed drones to completely evaluate the affected structures,” Veloso said.

“We are very much aware of the historical significance of the building and we would like to assist in its rebuilding efforts in every possible way,” he added.

The GSIS also said that they will offer its warehouse in Pasig to serve as PhilPost's temporary workplace.

“PhilPost needs a transitory workplace to allow it to seamlessly maintain its vital services while its restoration is going on,” Veloso said. “We are also willing to extend a loan to Philpost for the reconstruction of the building.

The Manila Central Post Office has been declared an Important Cultural Property by the National Museum of the Philippines, which Veloso said “its loss will have a huge impact on our rich cultural heritage.”

“We need to bring it back to its original splendor,” Veloso said.

On Tuesday, May 23, the Bureau of Fire Protection declared fire out at the Manila Central Post Office more than 30 hours after the blaze broke out.

“PhilPost will inform GSIS immediately once clearance is issued by the Bureau of Fire Protection (BFP) to enable GSIS to schedule a full-blown site inspection to determine the extent of damage sustained by the insured properties,” the pension fund said.

According to PhilPost, it would be impossible to gain entry inside the building as of this writing because it is still unsafe, tightly secured, and cordoned by the responding BFP team.

The PhilPost building was designed by Juan Arellano and Tomas Mapua in the neoclassical style and was completed in 1926.

It was the main mail-sorting and distribution hub in the Philippines and was the central office of the Philippine Postal Corp. The building was also a popular tourist destination, known for its grand architecture and its collection of stamps.