List of Insurance Companies in the Philippines
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
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/
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.
I hope that you will post article about health insurance..thanks =)
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!
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…
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
Also it also depends on your cash flow -Variable Insurance