What are the non-life insurance companies in the Philippines

Insurance is already an essential part of our living when it comes to securing our future, the future of our family, our business and our properties. Determining the best company that will manage your insurance involves a lot of consideration, such as its business stability, financial performance, handling of claims, cost of services, convenience, facilities, corporate governance, and customer care. These factors can be found on the insurer’s financial highlights, reputation, track records and customers’ feedback or testimonials.

 

Non-life insurance is also called property and casualty insurance. In the country, the insurance industry is regulated and supervised by the Insurance Commission (IC) in accordance with the provisions of the Insurance Code of the Philippines.

 

The following are Gross Premiums Written of Non-Life Insurance Companies
Year 2017 (Based on Submitted Unaudited Quarterly Statistics).

 

1 Malayan Insurance Company, Inc. – Php 9,331,760,921

2. Prudential Gtee. & Assce., lnc. – Php 8,948,937,641

3. Pioneer Insurance & Surety Corporation – Php 8,024,093,159

4. BPI/MS Insurance Corporation – Php 5,942,871,910

5. Charter Ping An (Philippine Charter Ins. Corp.) – Php 5,673,605,477

6. FPG Insurance Co., Inc. (Federal Phoenix) – Php 4,786,046,291

7. Standard Insurance Company, Inc. – Php 3,493,658,685

8. UCPB General Insurance Company, Inc. – Php 2,741,165,253

9. PNB General Insurers Company, Inc. – Php 2,484,743,009

10. AIG Phil Ins. Company (Chartis Phils., Inc.) – Php 2,265,239,513

11. MAPFRE Insular Insurance Corporation – Php 2,238,442,575

12. MAA GeneralAssurance Phils., Inc. – Php 1,796,138,132

13. Pacific Cross Ins., Inc. (Blue Cross) – Php 1,772,337,979

14. Commonwealth Insurance Company – Php 1,701,134,741

15. PGA Sompo Insurance Corporation – Php 1,558,861,445

16. Insurance Company of North America – Php 1,541,960,465

17. QBE Seaboard Insurance Phils., Inc. – Php 1,255,722,783

18. Oriental Assurance Corporation – Php 1,086,625,246

19. Mercantile Insurance Company, Inc., The – Php 990,511,390

20. Stronghold Insurance Company, Inc. – Php 913,898,632

21. Alpha Insurance & Surety Company, lnc. – Php 854,576,031

22. Paramount Life & Gen. Ins. Corp. (non-life unit) – Php 822,677,404

23. Philippine British Assurance Company, Inc. – Php 773,800,924

24. Asia Insurance (Phils.) Corporation – Php 666,435,256

25. Western Guaranty Corporation -Php 655,660,508

26. Card Pioneer Micro insurance, Inc. (Pioneer Asia) – Php 649,217,397

27. People’s Gen. Insurance Corp. – Php 636,073,002

28. STARR International Insurance Phils. Branch – Php 636,004,785

29. Fortune General Insurance Corporation – Php 620,552,529

30. Petrogen Insurance Corporation – Php 591,776,619

31. Republic Surety & Insurance Company, Inc. – Php 546,073,859

32. Corporate Guarantee & Insurance Co., Inc. – Php 536,368,311

33. Allied bankers Insurance Corporation – Php 523,855,471

34. New India Assurance Company, Ltd., The – Php 420,964,086

35. Philippines’ First lnsurance Co., Inc. – Php 407,312,515

36. Asia United lnsurance, Inc. – Php 387,070,169

37. Pacific Union lnsurance Company – Php 386,515,464

38. Visayan Surety & Insurance Corporation – Php 375,095,316

39. Cibeles Insurance Corporation – Php 367,062,685

40. Plaridel Surety & Insurance Co. – Php 338,428,331

41. Liberty Insurance Corporation – Php 330,750.67

42. Sterling Insurance Co., Inc. – Php 261,537,564

43. AFP General Insurance Corporation – Php 261,112,037

44. Perla Compania de Seguros, Inc. – Php 258,302,908

45. Premier Insurance & Surety Corporation – Php 241,349,213

46. First Nationwide Assurance Corporation, The – Php 234,097,250

47. Country Bankers Insurance Corporation – Php 223,261,757

48. CLIMBS Life & General Ins. (non-life unit) – Php 222,683,525

49. Empire Insurance Company – Php 211,596,823

50. Milestone Guaranty & Insurance – Php 196,098,453

51. Reliance Surety & Insurance Company, Inc. – Php 195,331,877

52. Pioneer Intercontinental Ins. Corporation – Php 141,703,149

53. BF General Insurance Company, Inc. – Php 105,242,360

54. Travellers Insurance & Surety Corporation – Php 101,281,389

55. Intra-Strata Assurance Corporation – Php 90,036,628

56. Bankers Assce. (Malayan Zurich ) – Php 87,994,127

57. Metropolitan Insurance Company – Php 78,498,089

58. R & B Insurance Corporation – Php 47,553,822

59. FLT Prime Insurance Corporation – Php 36,599,264

60. Meridian Assurance Corporation – Php 35,422,162

61. First Integrated Bonding & Insurance Co., Inc. – Php 33,264,648

62. SGI Phils. Gen. Insurance Company, Inc. – Php 31,803,212

63. Asian Life & Gen. Assce.(non-life unit) – Php 17,579,384

64. Centennial Guarantee Assce. Corp. – Php 8,364,576

65. Investors Assurance Corporation – Php 5,786,548

66. Northwest Insurance & Surety Company, Inc. – Php 58,938

67. United Insurance Company, Inc. – (1 34)

68. Solid Guaranty, Inc., The – Php 331,618

 

S u b – T o t a l – Php 83,200,254,534

 

Professional Reinsurer

1.National Reinsurance Corporation of the Phils. – Php 3,218,232,566

S u b – T o t a l –  Php 3,218.232,566

G r a n d  T o t a l –  Php 86,418,487,100

 

The lists above only rank insurance companies based on their gross or net premiums. Remember that there are still a lot of factors we need to contemplate in order to choose and deal with the best insurance companies that will offer the best security for us.