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Insurance Company

Overview of the Insurance Sector

Companies that provide risk management in the form of insurance contracts make up the insurance sector. The underlying premise of insurance is that one party, the insurer, will guarantee payment in the case of an unforeseen future occurrence. Meanwhile, another party, the insured or policyholder, pays the insurer a lower premium in exchange for protection against an unpredictable future occurrence.

Benefits of Getting Insured

It protects your income from unexpected expenses

It protects the money you’re saving for future plans

It gives you the power to protect your family even when you’re not around anymore

It protects your emotional health by giving you peace of mind

It protects your future by increasing your potential to earn from investments

Five Insurance Policies Everyone Should Have

Long-Term Disability Insurance

Life Insurance

Health Insurance

Homeowner's Insurance

Automobile Insurance

Types of services provided by Insurance Company

Life insurance or Personal insurance

Property insurance

Marine insurance

Fire insurance

Liability insurance

Guarantee insurance

Social Insurance

Top 10 Life Insurance Companies in the Philippines

The Manufacturers Life Insurance Co. (Phils.), Inc.
  • Richard Bates
  • 10th Floor NEX Tower, 6786 Ayala Avenue, Makati City, 1229
  • [email protected]

The Manufacturers Life Insurance Co. (Phils.), Inc. (also known as Manulife Philippines) is a subsidiary of Manulife Financial Corporation, one of the world’s largest insurance firms. They serve the financial and protection needs of more than 30 million consumers worldwide with a wide range of insurance, investment, wealth management, and financial planning services, from their headquarters in Canada. Products and Services

The Insular Life Assurance Company, Ltd.
  • Raoul Antonio 
  • Insular Life Drive, Filinvest Corporate City 1781 Alabang, Muntinlupa City
  • [email protected]

Insular Life Assurance Business, Ltd. (often referred to as Insular Life or InLife) is a Philippine mutual life insurance company. Individual and group life, health, education, and retirement insurance plans are available through the company. Through subsidiaries and associate enterprises under its eponymous corporate group, it provides linked financial services such as general insurance, banking, healthcare, lending, and investing. It was the first Filipino life insurance firm, founded on November 25, 1910 in Manila.

Sun Life Grepa Financial, Inc.
  • Richard S.Lim
  • 221 Sen. Gil J. Puyat Ave, Makati, 1203 Metro Manila
  • [email protected]

Sun Life Grepa Financial Inc. (Sun Life Grepa) is a joint venture between Sun Life Philippines and the Yechengco Group of Companies (YGC) (Sun Life). Through its agency, bancassurance, and group account channels, it provides financial protection solutions. Sun Life Grepa, being one of the country’s largest life insurance firms, it focuses on financial literacy to educate Filipinos about the necessity of planning for a brighter and more successful future.

United Coconut Planters Life Assurance Corporation
  • Atty. Martin A. Loon
  • Cocolife Building, 1226, 6807 Ayala Ave, Makati, 1227 Metro Manila, Philippines
  • [email protected]

Cocolife is the first ISO-certified Filipino life insurance company and the largest Filipino-owned stock life insurance company. In group insurance, they have effectively built out a distinct niche. They are also one of the country’s largest healthcare program providers.

FWD Life Insurance Corporation
  • Li Hao Zhuang
  • 19F W Fifth Building 5th Avenue Corner 32nd Street Bonifacio Global City 1634 Taguig, Philippines
  • +632 8888 8388

With creative propositions and simple-to-understand products powered by digital technology, FWD is focused on generating new customer experiences and making the insurance process simpler, faster, and smoother. FWD aspires to become a leading pan-Asian insurer by transforming people’s perceptions of insurance through this customer-centric approach.

Sun Life of Canada (Philippines), Inc.
  • Alex Narciso
  • 2/F Sun Life Centre, 5th Avenue corner Rizal Drive, Bonifacio Global City, Taguig City 1634
  • [email protected]

A leading global financial services company based out of Canada, they offer a broad range of insurance, retirement and investment products and services to meet the diverse needs of both individual and corporate clients around the world.
Sun Life in the Philippines offers a diverse range of insurance, wealth, and asset management solutions to help every Filipino in their journey towards a brighter life.

Philippine American Life and General Insurance Company
  • Ariel Cantos
  • 15-18F Net Lima Building 5th Avenue corner 26th Street Bonifacio Global City, Taguig Metro Manila, Philippines 1634
  • [email protected]

The Philippine American Life and General insurance Co., or widely known as Philam Life, is an insurance company based in the Philippines that provides life insurance, wealth management services, Group Life, Group Accident and Credit Life. The company was established in 1947 and is headquartered in Taguig.

Philippine AXA Life Insurance
  • Rahul Hora
  • 34th Floor GT Tower, Ayala Ave. corner H.V. Dela Costa, Makati City, Philippines
  • [email protected]

Established in 1999, AXA Philippines is one of the largest and fastest growing insurance companies in the country. AXA Philippines is one of the first to introduce bancassurance operations in the country, and is among the pioneers in the investment-linked insurance sector.

Pru Life Insurance Corporation of U.K.
  • Antonio Manuel G. De Rosas (Jumbing)
  • 9/F Uptown Place Tower 11 East 11th Drive, Uptown Bonifacio Taguig City 1634Philippines
  • [email protected]

Established in 1996, the company was the first in the industry approved by the Insurance Commission to engage in dollar-denominated policies. In 2001, it acquired All State Life Philippines and ING Life Philippines in 2002.

BPI Philam Life Assurance Corporation Inc.
  • Surendra Menon
  • 15th Floor BPI-Philam Life Makati (formerly Ayala- FGU Bldg) 6811 Ayala Avenue Makati City 1226
  • [email protected]

BPI-PHILAM LIFE ASSURANCE CORP. is a strategic alliance between two financial giants in the company– The Philippine American Life and General Insurance Company (Philam Life), the premier life insurance company in the Philippines for over 60 years, and Bank of the Philippine Islands (BPI), the leading commercial bank in the country with over 160 years of experience in the local banking industry.

Top 10 Non-Life Insurance Companies in the Philippines
Malayan Insurance Company, Inc.
  • Paolo Y. Abaya
  • 4F YUCHENGCO TOWER I 484 QUINTIN PAREDES ST. BINONDO, MANILA
  • [email protected]

Malayan Insurance Co., Inc. is the leading non-life insurance company in the Philippines. Founded in 1930, Malayan offers its client and the public guaranteed peace of mind through service excellence, quality insurance protection, and the prompt processing and settlement of just and valid claims.

Prudential Guarantee & Assurance, Inc.
  • Robert Coyiuto, Jr.
  • 119 Carlos Palanca St. Legaspi Village, Makati City, 1229 Philippines
  • [email protected]

Prudential Guarantee & Assurance is the second insurance company in the Insurance Commission’s list and has maintained its position for several years. Prudential Guarantee’s gross premiums written of about Php 9.8 billion makes it one of the largest non-life insurance companies operating in the Philippines.
Prudential Guarantee has expanded and now has about 39 offices around the country with more scheduled to open. Among the company’s clients belong in the country’s top 1,000 corporations.

Pioneer Insurance & Surety Corp.
  • Lorenzo Chan Toh
  • 108 Paseo de Roxas, Legaspi Village Makati City 1229, Philippines
  • [email protected]

The group’s flagship company Pioneer Insurance & Surety Corporation was established in 1954. In 2013, it counted gross premiums written of almost P4.8 billion. Backed by equity of some P8.6 billion and assets of around P17.3 billion, Pioneer’s market leadership is highlighted by its strong position across all non-life insurance lines, including property, marine, motor, and aviation. A non-life subsidiary focusing on non-traditional insurance packages, Pioneer Intercontinental Insurance Corporation, was established in 1966.

BPI/MS Insurance Corp.
  • Taizo Komatsu
  • 16th Floor Ayala – FGU Building Makati, Philippines
  • [email protected]

BPI/MS is a joint venture between the Bank of the Philippine Islands and Mitsui Sumitomo Insurance Company. BPI/MS is one of the top insurance companies in the Philippines and can be trusted to provide excellent services to let people and businesses pursue their goals without worries.
BPI/MS aims to keep individuals from living in a blur amidst the many uncertainties in the country. BPI/MS is ranked fourth based on their gross premium written.

Charter Ping An Insurance
  • Rahul Hora
  • Buencamino St, Almanza Uno, Las Pinas, Metro Manila
  • [email protected]

Charter Ping An Insurance Corporation is one of the leading general insurers in the Philippines. It is owned and operated by AXA Philippines and affiliated with a strong financial conglomerate, the Metrobank Group. Charter Ping An offers a wide range of insurance products and services available through its growing network nationwide including Fire, Motor Car, Marine Cargo, Personal Accident, Bonds, Casualty and Engineering insurance products. Accredited brokers, agents, car dealers and partners in 22 branches are strategically located nationwide.

Mercantile Insurance Company, Inc.
  • Melecio C. Mallillin
  • Mercantile Insurance Building, General Luna corner Beaterio Sts., Intramuros, Manila Philippines
  • [email protected] or [email protected]

Mercantile Insurance now ranks fifth among all non-life insurance companies in the Philippines. The company was founded on October 29, 1962. Through excellent service and a reputable and trustworthy style of business, Mercantile’s insured amounts (Net Premiums) grew from P400M in 2014 to over P2B in 2020, greatly exceeding industry growth standards

Commonwealth Insurance Company
  • Mario A. Noche
  • 10th, 12th, 19th Floors BDO Plaza 8737 Paseo de Roxas, Makati city, Metro Manila, Philippines 1226
  • [email protected]

Commonwealth Insurance Company (CIC) is one of the most experienced insurers in the Philippines, and one of the respected and recognized leaders in the insurance industry. They have been duly accredited by almost all universal, commercial, development, and savings and rural banks together with leasing and financial institutions in the country.

FPG Insurance Co., Inc
  • Gigi Pio de Roda
  • 6/F Zuellig Building, Makati Avenue corner Paseo de Roxas, Makati City 1225, Philippines
  • [email protected]

FPG Insurance is the largest insurance company in the Philippines and one of the top insurance firms in South East Asia. The company built an enviable reputation for developing customer insights that support the creation of relevant commercial and individual insurance products and solutions. They are also known for relevant comprehensive insurance policies in Asia.

Standard Insurance Company, Inc.
  • John Echauz
  • 28/F Petron Megaplaza, Sen. Gil Puyat Avenue, Makati City 1200, Philippines
  • [email protected]

Standard Insurance was founded in 1958. A Philippine non-life insurance company that operates nationwide for more than 60 years. They are known as one of the country’s most established motorcar insurers with the widest network of dealer-intermediaries and a large number of corporate fleets insured. They offer a wide range of property and general insurance products for individuals, small and medium enterprises, local and global corporations.

MAA General Assurance Phils. Inc.
  • Daniel C. Go
  • 9th, 10th, and 12th Floor, Pearlbank Centre, 146 Valero Street, Salcedo Village, Makati City 1227, Philippines
  • [email protected]

MAA General Assurance Philippines, Inc is one of the only six ISO certified non-life insurance companies in the Philippines. The company is committed to providing quality non-life insurance products and services that meet customer’s requirements and to building culture driven towards achieving total customer satisfaction. They are known for its strict adherence to global standards in time responsiveness to insurance needs, high-technology infrastructure, and product innovation.

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