Insurance companies are in the business of providing a safety net to people to manage risks and uncertainties. Their financial products can serve as a shield to protect from life’s unexpected twists and turns, giving one a chance to recover from emergencies, sickness, accidents, or untimely death of a loved one for example.
In this article, let’s look at the list of insurance companies in the Philippines.
Table of Contents
What is a Certificate of Authority?
The Insurance Commission released the list of insurance companies in the Philippines with valid and existing Certificate of Authority as of December 29, 2023.
Certificate of Authority is issued by the Insurance Commission to insurers that have complied with the regulatory requirements and are deemed qualified to conduct business.
List of composite insurance companies
Below are composite insurance companies with life and general insurance policies. You may also visit the best non life insurance companies.
1 Cooperative lnsurance System of the Philippines Life and General lnsurance
The company was established as Cooperative Insurance System of the Philippines by the Samahang Nayons on January 25, 1974. Its foremost aim was insuring coop members, workers, farmers, labor unions, and groups not covered by GSIS and SSS. It was renamed to 1CISP in 2018.
AIA Philippines Life and General lnsurance Company lnc.
Also known as AIA Philippines, it began as Philam Life established by C.V Starr and Earl Carrol in 1947. In 2009, it was acquired by AIA. It entered into partnership with BPI to form the bancassurance entity called BPI-Philam Life Assurance Corporation in 2010.
CLIMBS Life & General Insurance Cooperative
CLIMBS Life and General Insurance Cooperative was established by Mordino Cua, Aquilino Pimentel Sr., and a number of members from Misamis-Oriental-Bukidnon-Camiguin Federation of Cooperatives (MBC) and Southern Philippines Education Cooperative Center (SPECC) in 1971.
Etiqa Life and General Assurance Philippines, lnc.
Etiqa Life and General Assurance Philippines, Inc. was previously known as AsianLife Corporation. It is currently majority-owned by Malaysia-based Etiqa International Holdings, the investment arm of the Malaysia Banking Berhad (Maybank). Their products cover general insurance, group insurance, life and non life insurance, and investment-linked insurance policies.
Manila Bankers Life and General lnsurance Corporation
Manila Bankers Life Insurance Corporation was established in 1967. Its headquarter is located in Makati City, Metro Manila. It has a range of individual and group life and non life insurance plans.
Paramount Life & General lnsurance Corporation
The company was established by Daniel Go in 1950. It began as a company that with a number of non-life policies. Over the years, the company expanded through the entry of new investors and strategic acquisitions.
The Premier Life and General Assurance Corporation
The company was formerly known as The Premier Insurance & Surety Corporation. It was established on October 20, 1964 as 100% Filipino owned institution offering non-life insurance.
List of life insurance companies
The following is the list of life insurance companies. (You may also read about the best life insurance companies.)
Allianz PNB Life lnsurance, lnc.
Allianz PNB Life is a partnership between Allianz Group and Philippine National Bank. Established in 2016, it is a subsidiary of Allianz Group and headquartered at Makati City.
BDO Life Assurance Company, lnc.
BDO Life Assurance Company, Inc. is a subsidiary and the bancassurance arm of BDO Unibank, Inc. It began as a subsidiary of Generali Philippines Holdings Co. Inc. established in March 1999 as a joint venture between Generali Asia N.V., Jerneh Asia Berhad, and BDO Unibank, Inc.
In 2015, BDO and Generali terminated their partnership, where BDO owned Generali Philippines Holdings Co. Inc. (renamed BDO Assurance Holdings Corp.) and its life insurance arm Generali Pilipinas Life Assurance Co. (renamed BDO Life Assurance Co. Inc.).
BPI-AIA Life Assurance Corporation
BPI-AIA began as Filipinas Life Assurance Company in 1933, which was renamed to Ayala Life Assurance Incorporated (ALAI) in 1990. In 2009, Philippine American Life and General Insurance Co. acquired 51% of ALAI, and the result was joint venture named BPI-Philam. In 2021, it was renamed BPI AIA Life Assurance Corporation.
Beneficial Life Insurance Company, Inc.
Beneficial Life Insurance Co., Inc. is also known as BenLife, a Filipino-owned life company. It was founded on March 16, 1960.
Caritas Life Insurance Corporation
Caritas Life Insurance Corporation is a subsidiary of Caritas Health Shield Inc. It was incorporated on November 21, 2003 and granted Certificate of Authority on November 25, 2004. Caritas Life was placed in conservatorship in 2023.
Country Bankers Life Insurance Corporation
Country Bankers Life Insurance Corporation began on March 28, 1965. It is a life insurance arm of the Country Bankers Insurance Corporation.
East West Ageas Life Insurance Corporation
EastWest Ageas Insurance is a joint venture of EastWest Bank and AG Insurance founded in 2015. It was previously known as Troo, and renamed EastWest Ageas which bears the names of the parent companies.
FWD Life Insurance Corporation
FWD is the insurance business of Pacific Century Group launched in 2013. They launched the single-pay insurance plan called All Set and regular-pay insurance plan called Set for Life in the Philippines in September 2014.
First Life Financial Company, Inc.
It began as Builders Life Assurance Company, Inc. in 1959, and it then became Corregidor Life Insurance Company. After it was bought by Coyiuto Group of Companies in 1988, it was called First Guarantee Life Assurance Company, Inc. (First Life). Finally, it became First Life Financial Company, Inc. in 2007.
Fortune Life Insurance Company, Inc.
Fortune Life Insurance Co. was established in 1984 as a wholly Filipino-owned company.
Generali Life Assurance Philippines, Inc.
The company was a subsidiary of Generali Philippines Holdings Co. Inc. established in March 1999 as a joint venture between Generali Asia N.V., Jerneh Asia Berhad, and BDO Unibank, Inc. In 2015, BDO and Generali terminated their partnership, where Generali Asia N.V. retained ownership of Generali Pilipinas Insurance Corporation, a non life insurer. The company shifted business to providing life insurance, becoming Generali Life Assurance Philippines Inc. in 2016.
Insular Life Assurance Company, Ltd., The
The company was established as the first Filipino life insurance company on November 25, 1910. It assumed businesses written by Filipinas Life Assurance Company in 1943 and Occidental Life Insurance Company of California in 1954. Its bancassurance arm is through a partnership with UnionBank.
Manulife Chinabank Life Assurance Corporation
Manulife Chinabank Life Assurance Corporation was established in 2007. It is a bancassurance venture and partnership between Canada-based Manulife and China Bank.
Manufacturers Life Insurance Company (Phils.), Inc., The
Manufacturers Life Insurance Company (Phils.), Inc., also called Manulife Philippines, began to sell insurance policy in the Philippines in 1901. It was granted a license after six years. In 1999, Manulife Philippines was established as a wholly-owned domestic subsidiary. In the same year, Manulife Financial Corporation debuted in the Philippine Stocks Exchange.
Maxicare Life Insurance Corporation
Maxicare Life Insurance Corporation, also called MaxiLife, was established in 2022 as a partnership between Maxicare, an HMO company, and Gokongwei-led JE Holdings Inc. Its parent company is Pin-An Holdings.
Philippine AXA Life Insurance Corporation
Philippine AXA Life Insurance Corporation began in 1999. it is a joint venture between France-based AXA Group, GT Capital Holdings, Inc. and Metropolitan Bank and Trust Company (Metrobank).
Philippine Life Financial Assurance Corporation
Philippine Life Financial Assurance Corporation, also commonly known as PhilLife, is part of the Tanco Group of companies. Among its sister companies are PhilFirst, PhilPlans, and PhilCare.
Philippines International Life Insurance Company, Inc.
Philippines International Life Insurance Company, Inc., also called PHILINTER, was established in 1956. Its headquarter is at Quezon City.
Pioneer Life Inc.
Life insurance operations of Pioneer began in 1964. In 2003, it entered into a joint venture with Germany-based Allianz AG for five years, which established Pioneer Allianz. Finally, it became a wholly-owned Filipino company.
Pru Life Insurance Corporation of U.K.
Pru Life Insurance Corporation of UK is a subsidiary of British company Prudential PLC. It began its operations in 1996. In 2002, it acquired ING Life Philippines.
Sealnsure Life Insurance Co., Inc.
Shoppee-affiliated Sealnsure Life Insurance Co., Inc. began when it acquired non-life insurer Reliance Surety and Insurance Co. Inc. (RSI) in March 2022, an entity that was converted into a life insurer. The company was granted a license to sell life insurance policies by the Insurance Commission on August 4 in the same year.
Singlife Philippines Inc.
SingLife Philippines is a joint venture with Singapore-based SingLife, Di-Firm, and Aboitiz Equities Venture that was formed in December 2019. As a digital-first insurance provider, it worked with partners such as ATRAM, UnionBank, and GCash.
Sun Life Grepa Financial, Inc.
Sun Life Grepa Financial, Inc. was established by Alfonso T. Yuchengco as Grepalife Financial on March 15, 1954. It entered into a joint venture with Canada-based Sun Life Financial, forming Sun Life Grepa Financial Inc. in 2011. Its bancassurance partners include RCBC and CTBC Bank.
Sun Life of Canada (Philippines), Inc.
Sun Life Financial was established in the Philippines through British company H. J. Andrews and Co. in 1895. In 2011, it entered into partnership with Yuchengco Group to create Sun Life Grepa Financial Inc. It also has an asset management arm called named Sun Life Asset Management Company, Inc.
The Travellers Life Assurance of the Phils., Inc.
Its Certificate of Authority is 2023/05-O.
United Coconut Planters Life Assurance Corporation
The company, also known as COCOLIFE, was established on March 20, 1978. It is a wholly Filipino-owned stock life insurance provider. Its subsidiaries include Cocoplans, Cocogen Insurance, ULtra Security Services Inc., and Cocolife Asset Management Co., Inc. Its bancassurance arm is with Land Bank of the Philippines.
United Life Assurance Corporation
United Life Assurance Corporation was established by Yang Wen Ying on November 6, 1958. Its main office is located in Binondo, Manila.
List of non-life insurance companies
Here is the list of non life insurance companies in the Philippines.
AIG Philippines Insurance, Inc.
The company has established presence in the Philippines since 1925. It later was founded as a non-life insurer in May 1932.
Alliedbankers Insurance Corporation
The company was established as Sincere Insurance Company Inc. by Filipino-Chinese entrepreneurs on May 25, 1960. In 2020, it acquired PNB General Insurers Co., Inc. (PNB GEn).
Alpha Insurance and Surety Company, Inc.
The company began on March 13, 1957. It is a domestic non life insurer that is 100% Filipino-owned. It used to cater to the insurance needs of its parent group Jacinto Group. It has since focused its business in providing motor car insurance and surety.
Asia Insurance (Philippines) Corporation
The was previously known as Traders Insurance & Surety Company. Hong Kong-based Asian International Group joined the company in 1998, and four years later it was called Asia Insurance (Philippines) Corporation.
Asia United Insurance, Inc.
Asia United Insurance, Inc. is a 100% Filipino-owned company that was registered with the Securities and Exchange Commission on May 25, 2000, secured a Certificate of Authority by the Insurance Commission in August of the same year, and its operations commenced in September 2000.
BPI/MS Insurance Corporation
BPI/MS Insurance Corporation is a joint venture of the Bank of the Philippine Islands and Japan-based general insurer Mitsui Sumitomo Insurance Company. It began FEB Mitsui, then owned by Far East Bank and Trust Company, in 1965. In 1998, it entered into partnership with Mitsui Marine and BPI Group in 2000.
Bethel General Insurance & Surety Corporation
The company began as BF General Insurance Company. It was established in 1961. It’s renamed Bethel General Insurance and Surety Corporation, or Bethel Gen for short. Its headquarter is in Makati City.
CARD Pioneer Microinsurance Inc.
CARD Pioneer Microinsurance Inc. is a joint venture between CARD Mutually Reinforcing Institutions (CARD MRI) and Pioneer Insurance. It was established in 2013 and it caters to microfinance and community-based social development.
Charter Ping An Insurance Corporation
The company was acquired by Philippine AXA Life Corporation in 2016. In December 2022, the merger of the two companies was approved by the Securities and Exchange Commission.
Cibeles Insurance Corporation
The company’s name was inspired by Cibeles, the goddess of land and abundance. It was registered with the Securities and Exchange Commission on March 26, 1956 and acquired Certificate of Authority from the Insurance Commission in the same year. Its ownership from Benigno Today Jr.’s group was taken over by Rufino H. Ko Pio’s group.
COCOGEN Insurance, Inc.
The company began as Allied Guarantee Insurance company, Inc. It was established in January 1963 and became wholly owned non life insurance subsidiary of United Coconut Planters Life Assurance Corporation (Cocolife). It rebranded to Cocogen in 2019.
Commonwealth Insurance Company
Commonwealth Insurance Company was established by Andres Soriano in 1935. Its ownership changed times several times, and the current business leaders took over on October 7, 1997.
Corporate Guarantee and Insurance Company, Inc.
Corporate Guarantee was established by Liberato Laus in San Fernando, Pampanga on July 25, 1997. It is a member of Laus Group of Companies.
Country Bankers Insurance Corporation
The company, previously known as Country Bankers Insurance & Surety Co., Inc.) was founded by Jose E. Desiderio Sr. and Alfredo L. Montelibano Sr. on October 17, 1960.
FPG Insurance Co., Inc.
The company was established by the Zuellig Group as a non life insurance business in 1958.
Fortune General Insurance Corporation
The company, formerly known as Mutual Security Insurance Corporation, was incorporated on June 13, 1955. It became part of the ALC Group on November 1986. It was renamed to Fortune Guarantee and Insurance Corporation upon acquisition of its majority shares by Antonio Cabangon-Chua. The current business is the result of the merger with the other ALC Group’s non life insurer, the CityState Insurance Corporation in 2003. It was renamed Fortune General Insurance Corporation in 2004.
Insurance Company of North America
Insurance Company of North America is a non life insurer focusing on specialty personal lines, accident & health insurance.
Intra Strata Assurance Corporation
The company was formerly known as Overseas Insurance Company and established on September 8, 1959. It rebranded to Instratrata Assurance Corporation during the leadership of Antolin M. Oreta Jr.
Liberty Insurance Corporation
The company was incorporated on December 11, 1953. It is a member of Jose Cojuangco and Sons Group of Companies. Its headquarter is located in Makati City.
M Pioneer Insurance Inc.
M Pioneer Insurance Inc. was previously known as Republic Surety & Insurance Company. Its owners are Pioneer Insurance & Surety Corporation (with 51% stake) and Manila Electric Company (with 49% stake).
MAA General Assurance Philippines, Inc.
The company started as Paramount Insurance Corporation, and it was acquired by Malaysia-based MAA International Shd. Bhd. It was renamed MAA General Assurance Philippines Inc. and obtained its license on July 13, 2001.
Malayan Insurance Company, Inc.
The company began as China Insurance and Surety Co. by Enrique T. Yuchengco in 1930. It was renamed Malayan Insurance Co., Inc. in February 1949.
Mercantile Insurance Company, Inc.
The company was founded by Edmundo F. Unson and other entrepreneurs on October 29, 1962. It used to be located in Binondo, and its current headquarter is in Intramuros, Manila.
Metropolitan Insurance Company, Inc.
Metropolitan Insurance Company Inc. was established in 1933. It offers non life products for working individuals, families, and businesses.
Milestone Guaranty and Assurance Corporation
The company used to be known as Eastern Assurance & Surety Corporation. It was established by World War II veterans Frisco F. San Juan and Jorge T. Mariano, Jr. in 1962.
Oona Insular Insurance Corporation
Established on September 1, 1934, the company was previously known as Mapfre Insular Insurance Corporation. In 2022, the company was acquired by and is a joint venture of Oona Philippines (59.95% stake) and Insular Life (39.99% stake). In December 19, 2022, it changed its name to Oona Insular Insurance. It is an indirect subsidiary of Oona Holdings Pte. Ltd. (backed by Warburg Pincus).
Oriental Assurance Corporation
The company was founded by Gonzalo H. Cotoco on May 3, 1962. Its headquarter is located in Ortigas Center, Pasig City.
Pacific Cross Insurance, Inc.
The company was established under the name State Bonding and Insurance Company in 1949. It established a health insurance branch in 1977. The Pacific Cross Group acquired the company and rebranded to Blue Cross in 1986. In 2016, the company name was changed to Pacific Cross.
Pacific Union Insurance Company
Pacific Union Insurance Company was established by Aurelio Periquet Sr. on June 5, 1945 and received its Certificate of Authority on July 21, 1945. Its first bond sale was issued to then President Jose P. Laurel in behalf of Commonwealth of the Philippines.
People’s General Insurance Corporation
The company was founded by business people led by Tomas C. Benitez on May 22, 1950. It was taken over by Business Counseling Group on November 2, 1978. It was bought through a partnership between Mercantile Insurance Company and Tokyo-based Yasuda Fire and Marine Insurance Co. LTD in 1981, and its name was changed to People’s Trans East Asia Insurance Corporation. In 1992, the company became a 100% Filipino-owned company. By 1998, it was acquired by the group of Ernest J. Del Rosario and Alfredo D. Cruz.
Perla Compañia de Seguros, Inc.
The company was known as Perla Insurance when it was established in 1963 with its headquarter in Makati City.
Petrogen Insurance Corporation
The company was founded to cater to the insurance needs of Petron Corporation in 1996. In 2020, San Miguel Corporation infused P3 billion pesos of investment into the insurance company. It is the insurer of San Miguel Corporation with coverage on foods & beverages, petroleum, gas generation, and roads and tollways.
PGA Sompo Insurance Corporation
The company is a joint venture of Prudential Guarantee and Assurance, Inc. and Japan-based Sompo Holdings. It was established in 1991.
Philippine British Assurance Company, Inc.
The company was established in 1960, and its current name is PhilBritish Insurance. It is a partnership of British firms Ker and Co. (whose shares were bought by Wong Chu King family in 1980), Sun Insurance, Phoenix Insurance and Union Insurance Society of Canton.
Philippines First Insurance Company, Inc.
The company was established by Guillermo A. Cu Unjieng in 1906. It is the first non life insurer in the country. In 1972, it was acquired by Agustin N. Tanco.
Pioneer Insurance and Surety Corporation
Pioneer Insurance and Surety Corporation is the flagship company of the Pioneer Group. It was established in 1954.
Pioneer Intercontinental Insurance Corporation
One of the subsidiaries of the Pioneer Group, Pioneer Intercontinental Insurance Corporation was established in 1966. It caters to providing insurance on non-traditional packages.
Prudential Guarantee and Assurance Inc.
The company was founded by Robert Coyuito and registered with the Philippine Securities and Exchange Commission on February 20, 1950. Its office is located in Makati City.
SGI Philippines General Insurance Company, Inc.
The company is a joint venture of India-based Shriram Group and South Africa-based SANLAM Group. It was incorporated on April 2, 1964. Its principal address is in Makati City.
Sealnsure General Insurance Co., Inc
The company was called AA Guaranty Assurance Co., Inc. (formerly Northwest Insurance and Surety Company Inc.), and it was incorporated on March 10, 1959. It was rebranded to its current name upon its acquisition by Singapore-based SeaInsure PG Private Ltd in February 2021.
Standard Insurance Company, Inc.
The company was established in 1958.
Starr International Insurance Philippines Branch
STARR International Insurance Philippines is a branch of Starr International Insruance (Asia) Limited in the Philippines. It was incorporated on April 19, 2013. its principal office address is in Makati City.
Sterling Insurance Company, Inc.
The company was previously known as First Continental Assurance Company In and it was incorporated on October 10, 1960. It was taken over by the investment group led by Rommel G. Cariño on November 21, 2001. It was rebranded Sterling Insurance Company Incorporated.
Stronghold Insurance Company, Inc.
The company was formerly known as Mabuhay Insurance & Guaranty Co., Inc. It was established on March 21, 1960. It was acquired by David C. Mercado in December 1980 and it was rebranded Stronghold Insurance Company, Inc.
Summit General Insurance Corporation
The company was formerly called PNB General Insurers Co., Inc. established in 1991. It was acquired by Alliedbankers Insurance Corporation in 2020.
Travellers Insurance & Surety Corporation
The company was established in 1964. Its headquarter is located in Ermita, Manila.
Visayan Surety and Insurance Corporation
The company was established by Manuel Gotianuy, Jose Leyson, Lim Bonfing, and other business leaders in 1931. It was called Union Surety & Insurance Corporation, and its name was changed in the same year it was founded. Its headquarter is in Cebu City.
Western Guaranty Corporation
The company was founded on August 31, 1964. It was duly licensed by the Insurance Commission in October 14 of the same year. Its headquarter is in Binondo, Manila.
List of professional reinsurer
National Reinsurance Corporation of the Phils.
The company was established by virtue of Presidential Decree No. 1270 in 1978. It merged with Universal Malayan Reinsurance Corporation in 2006. It debuted in the local bourse in its initial public offering in April 2007.
List of servicing insurance company
Centennial Guarantee Assurance Corporation
The company was established under the original name Fieldsmen’s Guaranty Company Inc. on December 15, 1961. It underwent several rebranding over the years: Eagle Guaranty Assurance Corporation (January 24, 1963), Filriters Guaranty Assurance Corporation (January 3, 1976), Centennial Guarantee Assurance Corporation (October 26, 2000).
New India Assurance Company, Ltd., The
The company is the branch of India-based The New India Assurance Co. Ltd. It was established on August 28, 1930. It ceased issuing new or renewing existing policies effective January 1, 2023.
QBE Seaboard Insurance Philippines, Inc.
It was formerly known as Seaboard-Eastern Insurance which was established in 1971. The company was formed in partnership with Seaboard Eastern Insurance in 2013, and it is a branch of QBE Insurance in the Asia Pacific region. In 2018, Paramount acquired QBE Seaboard Insurance Philippines Inc.
Solid Guaranty, Inc. The
The company was founded by Antonio P. Madrigal in 1964. It is owned by the Madrigal Group with BELEK Inc.
Sun Life Assurance Company of Canada
The company began in Canada as Sun Mutual Life Insurance Company of Montreal in 1871. It was changed to Sun Life Assurance Company of Canada in 1882. It began business in the Philippines in 1895.
Conclusion
It is also important to check Insurance Commission’s list of insurance and pre-need companies that are under conservatorship, receivership, and liquidation.