Insurance Companies in Philippines

Insurance Commission (IC) provides the license and regulates insurance or reinsurance companies in Philippines. They are guided by The Insurance Code, as amended by Republic Act No. 10607. There are over 80 companies in Philippines established to cater the insurance needs of over 110 million population. They are categorized as Life, Non-Life, Composite, Reinsurance and Servicing Insurance Company.

Contents:

• Life Insurance Companies in Philippines
• Non-Life (General) Insurance Companies in Philippines
• Composite Insurance Companies in Philippines
• Reinsurance Companies in Philippines
• Servicing Insurance Companies in Philippines

Life Insurance Companies in Philippines

Below is the list of life insurance companies licensed to operate in Philippines.

1. Allianz PNB Life Insurance, Inc. (Formerly: PNB Life Insurance, Inc.)
2. BDO Life Assurance Company, Inc. (Formerly: Generali Pilipinas Life Assurance Company, Inc.)
3. BPI-AIA Life Assurance Corporation (Formerly: BPI-Philam Life Assurance (BPLAC) Corporation)
4. Beneficial Life Insurance Company, Inc.
5. Caritas Life Insurance Corporation
6. Country Bankers Life Insurance Corporation
7. East West Ageas Life Insurance Corporation
8. FWD Life Insurance Corporation
9. First Life Financial Company, Inc. (Formerly: First Guarantee Life Assurance Co.)
10. Fortune Life Insurance Company, Inc.
11. Generali Life Assurance Philippines, Inc.
12. Insular Life Assurance Company, Ltd., The
13. Manulife Chinabank Life Assurance Corporation (Formerly: The Pramerica Life Insurance Co., Inc.)
14. Manufacturers Life Insurance Company (Phils.), Inc., The
15. Maxicare Life Insurance Corporation
16. Philippine AXA Life Insurance Corporation
17. Philippine Life Financial Assurance Corporation (Formerly: Asian Life Financial Assurance Corporation)
18. Philippines International Life Insurance Company, Inc.
19. Pioneer Life Inc.
20. Pru Life Insurance Corporation of U.K.
21. Sealnsure Life Insurance Co., Inc. (Formerly: Reliance Surety Insurance Co., Inc.)
22. Singlife Philippines Inc. (Formerly: Singapore Life (Philippines), Inc.)
23. Sun Life Grepa Financial, Inc.
24. Sun Life of Canada (Philippines), Inc.
25. The Travellers Life Assurance of the Phils., Inc.
26. United Coconut Planters Life Assurance Corporation
27. United Life Assurance Corporation

Non-Life Insurance Companies in Philippines

Below is the list of non-life (general) insurance companies licensed to operate in Philippines:

1. AIG Philippines Insurance, Inc. (Formerly: Chartis Phils. Insurance Inc.)
2. Alliedbankers Insurance Corporation (Absorbed Corporation: Summit General Insurance Corporation)
3. Alpha Insurance and Surety Company, Inc.
4. Asia Insurance (Philippines) Corporation (Formerly: Asia Traders Insurance Corporation)
5. Asia United Insurance, Inc.
6. BPI/MS Insurance Corporation
7. Bethel General Insurance & Surety Corporation (Formerly: BF General Insurance & Surety Corporation)
8. CARD Pioneer Microinsurance Inc. (Formerly: Pioneer Asia Insurance Corporation)
9. Charter Ping An Insurance Corporation
10. Cibeles Insurance Corporation
11. COCOGEN Insurance, Inc. (Formerly: UCPB General Insurance Company, Inc.)
12. Commonwealth Insurance Company
13. Corporate Guarantee and Insurance Company, Inc.
14. Country Bankers Insurance Corporation
15. FPG Insurance Co., Inc. (Formerly: Federal Phoenix Assurance Company, Inc.)
16. Fortune General Insurance Corporation
17. Insurance Company of North America
18. Intra Strata Assurance Corporation
19. Liberty Insurance Corporation
20. M Pioneer Insurance Inc. (Formerly: Republic Surety & Insurance Company, Inc.)
21. MAA General Assurance Philippines, Inc.
22. Malayan Insurance Company, Inc.
23. Mercantile Insurance Company, Inc.
24. Metropolitan Insurance Company, Inc.
25. Milestone Guaranty and Assurance Corporation
26. Oona Insular Insurance Corporation (Formerly: Mapfre Insular Insurance Corporation)
27. Oriental Assurance Corporation
28. Pacific Cross Insurance, Inc. (Formerly: Blue Cross Insurance, Inc.)
29. Pacific Union Insurance Company
30. People’s General Insurance Corporation
31. Perla Compañia de Seguros, Inc.
32. Petrogen Insurance Corporation
33. PGA Sompo Insurance Corporation (Formerly: PGA Sompo Japan Insurance, Inc.)
34. Philippine British Assurance Company, Inc.
35. Philippines First Insurance Company, Inc.
36. Pioneer Insurance and Surety Corporation
37. Pioneer Intercontinental Insurance Corporation
38. Prudential Guarantee and Assurance Inc.
39. SGI Philippines General Insurance Company, Inc. (Formerly: Monarch Insurance Company, Inc.)
40. Sealnsure General Insurance Co., Inc. (Formerly: AA Guaranty Assurance Co., Inc.)
41. Standard Insurance Company, Inc.
42. Starr International Insurance Philippines Branch
43. Sterling Insurance Company, Inc.
44. Stronghold Insurance Company, Inc.
45. Summit General Insurance Corporation (Formerly: PNB General Insurance Company, Inc.)
46. Travellers Insurance & Surety Corporation
47. Visayan Surety and Insurance Corporation
48. Western Guaranty Corporation

Composite Insurance Companies in Philippines

Composite insurance companies are those entities, which are allowed to conduct both life and non-life business concurrently. In Philippines, you can’t run a composite business unless and until approved by the Commissioner to do so. We have presented a list of composite insurance companies in Philippines below.

1. 1 Cooperative Insurance System of the Philippines Life and General Insurance
2. AIA Philippines Life and General Insurance Company Inc. (Formerly: Philippine American Life and General Insurance Company Corporation) – Merged with Philam Equitable Life Assurance Company, Inc. effective 01 April 2022
3. CLIMBS Life & General Insurance Cooperative
4. Etiqa Life and General Assurance Philippines, Inc. (Formerly: AsianLife and General Assurance Corporation)
5. Manila Bankers Life and General Insurance Corporation (Formerly: Manila Bankers Life Insurance Corporation)
6. Paramount Life & General Insurance Corporation
7. The Premier Life and General Assurance Corporation (Formerly: The Premier Insurance & Surety Corporation)

Reinsurance Companies in Philippines

Currently, there is single reinsurance company in Philippines, which is listed below:

1. National Reinsurance Corporation of the Phils

Servicing Insurance Company

When a foreign life insurance company decides to exit the Philippine market, it assumes the status of a servicing insurance company. In this capacity, its activities are limited to specific transactions, including receiving regular premium payments, extending policy loans, disbursing cash surrender values for existing policies, reviving lapsed policies for Philippine policyholders, and providing other associated services.

Below is the list of servicing insurance companies in Philippines:

1. Centennial Guarantee Assurance Corporation
2. New India Assurance Company, Ltd., The
3. QBE Seaboard Insurance Philippines, Inc.
4. Solid Guaranty, Inc. The
5. Sun Life Assurance Company of Canada

Note: These list of insurance companies registered in Philippines were last updated on 30 November (F.Y. 2023/24).

Hope you liked our list of insurance companies in Philippines. We have tried our best to collect the information from authentic sources. However, we don’t guarantee the accuracy of information provided here. If you own or manage a insurance company in Philippines and have some suggestion to enrich this list, please feel free to write us.