2018 Non-Life Insurance Company Ranking Based on Submitted Annual Statements
The various insurance companies in the Philippines aim to provide the best insurance coverage for their clients and lead the industry as a result. Many people have already realized the importance of insuring their properties to keep their potential financial losses low in case they’re caught in an accident or when they lose properties. More Filipinos are ready in case something happens.
Investing in a property, whether on a house, car, or any other significant property, without protecting them with sufficient insurance coverage can be disastrous financially. Should a recently bought property receive damages, then the owner wasted their investment.
It’s essential to compare insurance companies to ensure that people get the insurance coverage they need at the most affordable price. The Department of Finance’s Insurance Commission can provide the data on the leading non-life insurance companies in the Philippines based on their Gross Premiums Written data listed on their Submitted Annual Statements.
|
Ranking |
Name of Company | Gross Premium Written (₱) |
|
1. |
Malayan Insurance Company, Inc. |
10,964,321,747 |
|
2. |
Prudential Guarantee & Assurance, Inc. |
9,828,403,865 |
|
3. |
Pioneer Insurance & Surety Corp. |
9,295,577,149 |
|
4. |
BPI/MS Insurance Corp. |
5,815,684,492 |
|
5. |
Charter Ping An Insurance Corp. |
5,671,051,665 |
|
6. |
FPG Insurance Co., Inc. |
5,304,459,556 |
|
7. |
Standard Insurance Company, Inc. |
3,785,702,222 |
|
8. |
UCPB General Insurance Company, Inc |
2,917,109,354 |
|
9. |
Pacific Cross Insurance, Inc. (Blue Cross Insurance, Inc.) |
2,729,792,941 |
|
10. |
PNB General Insurers Company, Inc. |
2,532,589,966 |
|
11. |
AIG Philippines Insurance Company |
2,471,992,861 |
|
12. |
Commonwealth Insurance Company |
2,082,548,418 |
|
13. |
MAA General Assurance Phils., Inc. |
1,951,285,822 |
|
14. |
PGA Sompo Insurance Corp. |
1,852,450,260 |
|
15. |
Mapfre lnsular Insurance Corp. |
1,701,465,483 |
|
16. |
Insurance Company of North America |
1,521,890,481 |
|
17. |
Mercantile Insurance Company, Inc. |
1,455,420,595 |
|
18. |
QBE Seaboard Insurance Philippines, Inc. |
1,119,596,430 |
|
19. |
Stronghold Insurance Company, Inc. |
1,061,115,038 |
|
20. |
Alpha Insurance & Surety Company, Inc. |
1,016,532,462 |
|
21. |
Paramount Life & General Insurance Corp. (non-life unit) |
996,553,307 |
|
22. |
Philippine British Assurance Company, Inc. |
987,404,789 |
|
23. |
Oriental Assurance Corp. |
980,841,850 |
|
24. |
Starr International Insurance Philippines Branch |
903,467,493 |
|
25. |
Card Pioneer Microinsurance, Inc. |
846,273,237 |
|
26. |
People’s General Insurance Corp. |
782,975,495 |
|
27. |
Western Guaranty Corp. |
708,934,437 |
|
28. |
Pacific Union Insurance Company |
704,150,217 |
|
29. |
Asia Insurance (Philippines) Corp. |
700,636,444 |
|
30. |
Fortune General Insurance Corp. |
693,425,542 |
|
31. |
Alliedbankers Insurance Corp. |
679,214,295 |
|
32. |
Travellers Insurance & Surety Corp. |
675,715,761 |
|
33. |
Petrogen Insurance Corp. |
600,820,356 |
|
34. |
M Pioneer Insurance Inc. |
565,855,891 |
|
35. |
Corporate Guarantee & Insurance Company, Inc. |
535,908,377 |
|
36. |
Liberty Insurance Corp. |
510,426,149 |
|
37. |
Visayan Surety & Insurance Corp. |
504,720,035 |
|
38. |
Asia United Insurance, Inc. |
465,249,738 |
|
39. |
Philippines First Insurance Company, Inc. |
412,691,029 |
|
40. |
Cibeles Insurance Corp. |
387,221,438 |
|
41. |
Milestone Guaranty & Assurance Corp. |
360,436,250 |
|
42. |
Sterling Insurance Company, Inc. |
337,883,611 |
|
43. |
CLIMBS Life & General Insurance Coop.(non-life unit) |
324,395,664 |
|
44. |
First Nationwide Assurance Corp., The |
275,580,670 |
|
45. |
AFP General Insurance Corp. |
274,015,187 |
|
46. |
Country Bankers Insurance Corp. |
271,831,572 |
|
47. |
Empire Insurance Company |
259,357,452 |
|
48. |
Perla Compañia de Seguros, lnc |
246,003,809 |
|
49. |
New India Assurance Company, Ltd., The |
245,688,567 |
|
50. |
Pioneer Intercontinental Insurance Corp. |
229,191,735 |
|
51. |
Reliance Surety & Insurance Company |
207,915,531 |
|
52. |
Bethel General Inurance & Surety Corporation (BF Gen Ins. & Surety) |
187,456,353 |
|
53. |
Bankers Assurance Corp. |
112,806,007 |
|
54. |
Intra-Strata Assurance Corp. |
101,191,983 |
|
55. |
AsianLife & General Assurance Corp. (non-life unit) |
58,495,904 |
|
56. |
SGI Philippines General Insurance Company, Inc. |
40,993,886 |
|
57. |
1CISP Life and General Insurance (non-life unit) |
26,778,971 |
|
58. |
Premier Insurance & Surety Corporation |
17,164,667 |
|
59. |
AA Guaranty Assurance Corp. Inc. (Northwest Ins. & Surety) |
10,473,497 |
| SUB-TOTAL |
92,309,178,005 |
Professional Reinsurer
|
Ranking |
Name of Company |
Gross Premium Written |
|
1. |
National Reinsurance Corp. of the Philippines |
3,682,906,880 |
|
SUB-TOTAL |
3,682,906,880 |
Servicing Insurance Companies
|
Ranking |
Name of Company |
Gross Premium Written |
|
1. |
FLT Prime Insurance Corporation |
995,942 |
|
2. |
Meridian Assurance Corporation |
29,305 |
|
SUB-TOTAL |
1,025,247 |
GRAND TOTAL: ₱95,993,110,132
Source: Department of Finance INSURANCE COMMISSION
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