List of Insurance Companies in the Philippines

by Gily Tenorio on February 8, 2012

in Insurance

Lately, I’m looking for a good insurance company in the Philippines so I started reading blogs about insurance and the benefits you can get from it. I’ve never thought before how important life insurance is especially now I have my own family. Basically, insurance is bought by most people to provide money for their family in case of their accidental death. All of us know that we gonna die someday maybe due to disease, old age or accidents so it is better now to prepare for that event since it will surely happen.

There are many insurance companies operating in the Philippines. Some of those have been in their industry for many years. Actually, right after I was employed in my first company, I applied for a life insurance with Phil Am Life, one of the largest insurance companies in the country though I didn’t continue the payment plan. It was in 2004 and after that, I never thought to get an insurance.

My plan this year is to pick a good insurance and then I will start the application when I return to the Philippines because I can’t do it while outside the country. I already emailed an insurance agent and got a proposal from him but he said to me that I am required to be in the Philippines for personal appearance when the contract for insurance will be signed.

So maybe I’ll study and research more which insurance is best for me as for the moment. If you want to apply for an insurance, there are plenty of information you can get from the Internet on how to choose one and the benefits you can get from them. To help you more on your research, I’ll list the insurance companies in the Philippines so you could familiarize yourself on them and perhaps, select your insurance from them.

List of Insurance Companies in the Philippines

This list maybe changed anytime and may not be the latest so you could also do your own research if you want the recent information.

I. Composite (Life and Non-Life)

1. AsianLife and General Assurance Corporation
(Formerly: ATR Professional Life AssuranceCorporation – name changed effective 31 March 2003)

2. CLIMBS Life & General Insurance Cooperative

3. Paramount Life & General Insurance Corporation

4. Philippine American Life and General Insurance Company

II. Life Companies

1. AsianLife Financial Assurance Corporation
(Formerly: All Asia Life Assurance Corporation -name changed effective 31 March 2003

2. Banclife Insurance Company, Inc.

3. Beneficial Life Insurance Company, Inc.

4. BF Life Insurance Corporation

5. BPI-Philam Life Assurance Corporation
(Formerly:Ayala Life Assurance, Inc.)

6. CAP Life Insurance Corporation

7. Caritas Life Insurance Corporation

8. Cooperative Insurance System of the Philippines

9. Country Bankers Life Insurance Corporation

10. First Life Financial Company, Inc.
(Formerly: First Guarantee Life Assurance Co.-as of 2007 )

11. Fortune Life Insurance Company, Inc.

12. Generali Pilipinas Life Assurance Company, Inc.

13. Great Life Financial Assurance Corporation
(Formerly: Nippon Life Insurance Company of the Philippines as of 2007)

14. Insular Life Assurance Company, Ltd., The

15. Manila Bankers Life Insurance Corporation

16. Manufacturers Life Insurance Company (Phils.), Inc., The

17. Manufacturers Life Insurance Company (Branch), The

18. Manulife Chinabank Life Assurance Corporation
(Formerly: The Pramerica Life Insurance Co., Inc.)

19. Philam Equitable Life Assurance Company, Inc.

20. Philippine AXA Life Insurance Corporation

21. Philippine Prudential Life Insurance Company, Inc.

22. Philippines International Life Insurance Company, Inc.

23. Pioneer Life Inc.

24. PNB Life Insurance, Inc.

25. Pru Life Insurance Corporation of U.K.

26. Sony Life Insurance (Phils.) Corporation

27. Sun Life Grepa Financial, Inc.
(Formerly: Grepalife Financial, Inc. – name change November 8, 2011)

28. Sun Life of Canada (Philippines), Inc.

29. United Coconut Planters Life Assurance Corporation

30. United Life Assurance Corporation

insurance

III. Non- Life Companies

1. AFP General Insurance Corporation

2. Alliedbankers Insurance Corporation

3. Alpha Insurance and Surety Company, Inc.

4. Asia Insurance (Philippines) Corporation (a)
(Formerly: Asia Traders Insurance Corporation -name change effec. 23 June 2004)

5. Asia United Insurance, Inc.

6. BF General Insurance Company, Inc.

7. BPI/MS Insurance Corporation

8. Bankers Assurance Corporation
(Formerly:Malayan Zurich Insurance Company, Inc.-name changed effec. 13 October 2006.)

9. Blue Cross Insurance, Inc.

10. CAP General Insurance Corporation

11. Centennial Guarantee Assurance Corporation (b)

12. Chartis Philippines Insurance, Inc.
(Formerly: AIU Insurance (Philippines) Company, Inc.)

13. Cibeles Insurance Corporation

14. Commonwealth Insurance Company

15. Corporate Guarantee and Insurance Company, Inc.

16. Country Bankers Insurance Corporation

17. Empire Insurance Company

18. Far Eastern Surety & Insurance Company, Inc.

19. Federal Phoenix Assurance Company, Inc.

20. FLT Prime Insurance Corporation
(Formerly: First Lepanto-Taisho Insurance Corp. – name changed effec. 11 May 2005)

21. Finman General Assurance Corporation

22. First Integrated Bonding & Insurance Co., Inc.

23. First Nationwide Assurance Corporation, The

24. Fortune General Insurance Corporation

25. Generali Pilipinas Insurance Company, Inc.

26. Great Domestic Insurance Company of the Phils., Inc. (b)

27. Industrial Insurance Company, Inc.

28. Insurance of the Philippine Islands Company, Inc.

29. Insurance Company of North America

30. Intra Strata Assurance Corporation (a)

31. Investors Assurance Corporation

32. Liberty Insurance Corporation

(a) Not authorized to issue Customs Bonds
(b) Not authorized to issue Judicial Bonds

33. MAA General Assurance Philippines, Inc.

34. Malayan Insurance Company, Inc.
(Merged with Tokio Marine Malayan Ins. Co., Inc. on July 2, 2008)

35. Manila Insurance Company, Inc.

36. The Manila Surety and Fidelity Company, Inc.

37. Mapfre Insular Insurance Corporation

38. Mercantile Insurance Company, Inc.

39. Meridian Assurance Corporation

40. Metropolitan Insurance Company, Inc.

41. Milestone Guaranty and Assurance Corporation (a, b)
(Formerly: Eastern Assurance and Surety Corporation – name changed effec. 13 Dec. 2010)

42. Monarch Insurance Company, Inc. (a, b, c)

43. New Hampshire Insurance Company

44. New India Assurance Company, Ltd., The

45. Northwest Insurance & Surety Company, Inc.

46. Oriental Assurance Corporation

47. Pacific Union Insurance Company (a)

48. PGA Sompo Japan Insurance, Inc.

49. People’s General Insurance Corporation

50. Perla Compañia de Seguros, Inc.

51. Petrogen Insurance Corporation

52. Philippine British Assurance Company, Inc.

53. Philippine Charter Insurance Corporation

54. Philippine Fire and Marine Insurance Corporation

55. Philippines First Insurance Company, Inc.

56. Philippine General Insurance Corporation

57. Philippine Phoenix Surety and Insurance Company, Inc

58. Pioneer Asia Insurance Corporation

59. Pioneer Insurance and Surety Corporation

60. Pioneer Intercontinental Insurance Corporation

61. Plaridel Surety and Insurance Company

62. PNB General Insurers Company, Inc.

63. Premier Insurance & Surety Corporation, The

64. Prudential Guarantee and Assurance Inc.

65. QBE Insurance (Philippines), Inc.

66. R & B Insurance Corporation

67. Reliance Surety and Insurance Company, Inc.

68. Republic Surety and Insurance Company, Inc.

69. Seaboard-Eastern Insurance Company, Inc.

70. Security Pacific Assurance Corporation

71. Solid Guaranty, Inc. The

72. Standard Insurance Company, Inc.

73. Sterling Insurance Company, Inc.

74. Stronghold Insurance Company, Inc.

75. Summit Guaranty and Insurance Company, Inc.

76. Travellers Insurance & Surety Corporation (a)

77. UCPB General Insurance Company, Inc.

78. United Insurance Company, Inc.

79. Utility Assurance Corporation

80. Visayan Surety and Insurance Corporation

81. Western Guaranty Corporation (a)

(a) Not authorized to issue Customs Bonds
(b) Not authorized to issue Judicial Bonds
(c) Superseadeas Bonds

IV. Professional Reinsurer

1. National Reinsurance Corporation of the Phils.

V. Servicing Insurance Company

1. Sun Life Assurance Company of Canada

The above list could be changed anytime and may not be the updated list of legitimate insurance companies in the Philippines so make sure to verify first the company before you invest or begin paying your premium.

 

Image Credit: digitalart

Source: http://www.insurance.gov.ph/

 

Leave a Comment

*

code

CommentLuv badge

{ 6 comments… read them below or add one }

James June 15, 2012 at 03:20

Great list! Timing I am looking for insurance companies in Philippines not only that, I’m also considering availing other insurance. Right now I had eCare Elite plan, which is a good investment.

Reply

danecca April 12, 2012 at 00:59

I hope that you will post article about health insurance..thanks =)

Reply

Maanduyon February 24, 2012 at 14:21

Hello friends, if you plan to get insurance be sure to get term insurance because it is the cheapest of all insurance products offered although it only covers death benefits. Term insurance works to your advantage because instead of paying higher premiums that whole-life or endownment fund or VULs, you can invest the difference instead in mutual funds or stocks. In short, YOU control your money, not the insurance company.

Just my opinion. I am also looking into getting an insurance policy when we come home for vacation in the Philippines. We already have choices so it is just a matter of meeting the agents and finalizing it. ;))

Happy investing!

Reply

MyrinR February 20, 2012 at 00:46

well, just like you its only during this past few months that i thought about securing an insurance policy for my family specifically for my husband… i came to realize that i must have one since my husband is driving our van to earn for us and the van that he is driving that we loan from a bank is insured, (because the banks require every loaned cars to be insured),  i realized that if ever something not good happens it is our family who will suffer… and then just like i looked for an insurance company.. and because of the beauty of the Variable insurance offered by the Pru life UK, i have joined their team… i hope that when you get an insurance for you, you will get a variable insurance because it has living and death benefits as well… and the earlier you start it the bigger the benefits that you will enjoy, the living benefits are withrawable, and thus you can use that  money for other needs such as for retirement, emergency funds and education for your children, so variable insurance does a lot more than a life insurance policy… 

Reply

Raymund Sunpongco March 3, 2012 at 05:28

Life Insurance vs Variable Insurance– in my opinion it depends on what stage are you in (Family Cycle): 1. Single  2.  Newly Weds or starting a family 3. With 1-2 children 4. Retirement stage .. In my opinion Variable insurance is more ideal with #4

Reply

Hepe March 3, 2012 at 05:34

Also it also depends on your cash flow –Variable Insurance

Reply

Previous post:

Next post: