List of Insurance Companies in the Philippines with Certificates of Authority (Extended License)

Looking for the list of insurance companies in the Philippines with license to operate? Let us study “insurance”, its definition and importance. Planning to buy a life insurance in the Philippines? Here are the lists of insurance companies in the Philippines whose certificates of authority were extended for license year 2014-2015.

Here in InvestmentTotal.com, I don’t only inform the readers about good investment opportunity in the Philippines, but also inform them about the importance of insurance. You should never divert your attention immediately in any of the investment opportunity without your life insurance. It is a “must” that anybody should have insurance.

Some people insured their car, their homes and their business as well as their investment capital for protection. In my own opinion, a “life” itself is the first to get insured rather than the things mentioned.

What is Insurance?

It is important to know the meaning of insurance. “Insurance is the practice by which an individual secures financial compensation for a specified loss of damage resulting from risk of any sort, by contract with a company to which he pays regular premiums, the profession of drawing up some contracts, the contract drawn up, the protection afforded by this, the premium demanded for such protection, the sum for which something is insured”.

Insurance policy is the contract drawn up between an individual and an insurance company.
Insurant – someone to whom an insurance policy is issued.

Reference: The New Lexicon Webster’s Encyclopedic Dictionary of the English Language, Deluxe Edition

Sometimes it is frustrating when you shop around and talking to an insurance agent about insurance. In my experience, when I am buying my insurance, although it is my first time, the agent offers me immediately VUL, he explained me that it has an insurance and an investment at the same time.

He didn’t ask me first if I am investing already or not. That time I invested in mutual funds,stocks and started to invest in BDO UITF Easy Investment Plan. (Do not do what I did, get insurance first before investing, okay!)

I am very frustrated because the agent insisted the VUL product, when I am searching the best mutual fund companies and their performance, his company didn’t belong to top 5. My rule in investing is to invest only with the topnotcher and forget the rest. (Example mutual fund top companies (equity and balanced fund): Philequity Fund Inc, FAMI-SALEF)

I assume that the agent wasn’t that familiar with the product he is offering, or he don’t really know fully the company he is working or affiliated with. If I am an insurance agent, I would let the client first to speak to talk about himself, his work, his financial status, his family and his needs to speak what he really wants or needs.

Priority of Life Insurance agents

The priority of a life insurance agent should be the client needs not the “sales commission”. If you are buying insurance, you can smell and read the mind of an agent if he is willing to help you or not. Am I right? I don’t want to mention the company wherein their agent aren’t familiar with financial products, or let me say “unprofessional”, “unethical” salesman.

Also Read: Tips in Choosing the Best Life Insurance Agent

In my other articles, I will write the characteristics of a good insurance agent, insurance company and how much an insurance really cost. Going back to the topic, here are the lists of insurance company in the Philippines.

List of Insurance Companies in the Philippines with Certificates of Authority (Extended License)

As of 2 October  2014

COMPOSITE  (Lite and  Non-Life)
AsianLife  and General  Assurance  Corporation
(Formedy: ATR Professional Life Assurance

Corporation  – name  changad  effective 31 March 2003)
CLIMBS  Life & General  lnsurance  Cooperative
Paramount  Life & General  lnsurance  Corporation
Philippine American Life and General  lnsurance  Company

LIFE COMPANIES
Beneficial  Life lnsurance  Company,  lnc.
BPI-Philam  Life Assurance Corporation
CAP  Life lnsurance  Corporation
Caritas Life lnsurance  Corporation
Cooperative  lnsurance  System  of the Philippines
Country  Bankers  Life lnsurance  Corporation
First  Life Financial  Company,  lnc.
(Formerly:  First Guarantee Life Assurance  Co.-as  of 2007 )

Fortune  Life lnsurance  Company,  lnc.
FWD Life lnsurance  Corporation
Generali  Pilipinas  Life Assurance Company,  lnc.
lnsular Life Assurance  Company,  Ltd., The
Manila  Bankers  Life lnsurance  Corporation
Manufacturers Life lnsurance  Company  (Phils.),  lnc., The
Manu  I  ife Chinabank Life Assurance Corporation
(Fonnerty: The Prameica Life lnsurance  Co., lnc.)
Philam  Equitable  Life Assurance  Company,  lnc.
Philippine AXA Life lnsurance  Corporation
Philippines  lnternational  Life lnsurance  Company,  lnc.
Philippine  Life Financial  Assurance  Corporation
(Formerly: Asian Life Financial  Assurance  Corporation)

Philippine  Prudential  Life lnsurance  Company,  lnc.
Pioneer  Life lnc.
PNB  Life lnsurance, lnc.
Pru  Life lnsurance  Corporation  of U.K.
Sun Life Grepa Financial,  lnc.
Sun  Life of Canada  (Philippines),  lnc.
United Coconut Planters  Life Assurance Corporation
United  Life Assurance Corporation

NON-LIFE  COMPANIES
1 .  AFP General lnsurance  Corporation
2 .  AIG Philippines  lnsurance, lnc.
(Formerly:  Chartis  Phils. lnsurance lnc. name  change  effec.  13 Dec. 2012)
3 .  Alliedbankers lnsurance  Corporation
4 .  Alpha lnsurance  and Surety Company,  lnc.
5 .  Asia lnsurance  (Philippines)  Corporation (a)
(Formerly: Asia Traders lnsurance  Corpontion  –name  change  effec. 23 June  2004)

6 .  Asia United  lnsurance, lnc.
7 .  Bankers Assurance Corporation
8 .  BF General lnsurance  Company,  lnc.
9 .  Blue Cross lnsurance, lnc.
10 .  BPI/MS  lnsurance  Corporation
11 .  CARD Pioneer  Microinsurance  lnc.
(Formety:  Pioneer Asia  lnsurance  Corporation  – name  changed  etrec.  13 Sept.  2013)

12 .  Centennial  Guarantee  Assurance  Corporation (b)
13 .  Charter Ping An lnsurance  Corporation
14 .  Cibeles  lnsurance  Corporation
15 .  Commonwealth lnsurance  Company
16 .  Country  Bankers  lnsurance  Corporation
17 .  Corporate  Guarantee  and lnsurance  Company,  lnc.
18 .  Empire  lnsurance  Company
19 .  Far Eastern  Surety & lnsurance  Company,  lnc.
20 .  Federal  Phoenix Assurance  Company,  lnc.
21 .  FLT Prime  lnsurance  Corporation
(Formerly: First  Lepanto-Taisho  lnsurcnce  Corp.  – name  changed  effec. 11 May  2005)

22 .  First  Nationwide  Assurance  Corporation,  The
23 .  Fortune  General lnsurance  Corporation
24 .  lnsurance  Company  of North America
25 .  lntra Strata Assurance Corporation
26 .  lnvestors  Assurance Gorporation
27 .  Liberty lnsurance  Corporation
28 .  MAA GeneralAssurance  Philippines,  lnc.
29 .  Malayan  lnsurance  Company,  lnc.
30 .  Manila  Surety and Fidelity Company,  lnc.
31 .  Mapfre  lnsular lnsurance  Corporation
32 .  Mercantile  lnsurance  Company,  lnc.
33 .  Meridian Assurance Corporation
34 .  Metropolitan  lnsurance  Company,  lnc.
35 .  Milestone  Guaranty  and Assurance  Corporation
36 .  New lndia Assurance Company,  Ltd.,  The
37 .  Northwest  lnsurance  & Surety Company,  lnc.
38 .  OrientalAssuranceCorporation
39 .  Pacific  Union lnsurance  Company (a)
40 .  People’s  General  lnsurance  Corporation
41 .  Perla Compafiia de Seguros,  lnc.
(a)  Not  authorized  fo issue  Cusfoms  Bonds
(b)  Not  authorized  fo issue  Judicial Bonds
(c)  Not  authorized  fo issue Supersedeas  Bonds

42 .  Petrogen  lnsurance  Corporation
43 .  PGA Sompo  Japan  lnsurance, lnc.
44 .  Philippine  British Assurance  Company,  lnc.
45 .  Philippine  Fire and Marine  lnsurance  Corporation
46 .  Philippines  First lnsurance  Company,  lnc.
47 .  Pioneer  lnsurance  and Surety Corporation
48 .  Pioneer  lntercontinental  lnsurance  Corporation
49 .  Plaridel  Surety and lnsurance  Company
50 .  PNB General  lnsurers Company,  lnc.
51 .  Premier  lnsurance  & Surety Corporation,  The
52 .  Prudential  Guarantee  and Assurance lnc.
53 .  QBE Seaboard  lnsurance  Philippines,  lnc.
(Formerly:  QBE  Insurance  (Philippines),  lnc.  – name  changed  effec.  27 December 2013)

54 .  Reliance  Surety  and lnsurance  Company,  lnc.
55 .  Republic  Surety  and lnsurance  Company,  lnc.
56 .  SGI Philippines  General lnsurance  Company,  lnc.
(Formerly:  Monarch lnsutance  Company,  lnc.  – name  changed  effec. 26 May  2014)

57 .  Solid Guaranty,  lnc. The
58 .  Standard lnsurance  Company,  lnc.
59 .  Starr lnternational  lnsurance Philippines  Branch
60 .  Sterling  lnsurance  Company,  lnc.
61 .  Stronghold  lnsurance  Company,  lnc.
62 .  Travellers lnsurance  & Surety Corporation
63 .  UCPB General lnsurance  Company,  lnc.
64 .  United  lnsurance  Company,  lnc.
65 .  Visayan  Surety and lnsurance  Corporation
66 .  Western Guaranty  Corporation

(b) Not  authorized  to issue  Judicial Bonds
(c)  Not authoized to issue Supersedeas  Bonds

PROFESSIONAL  REINSURER
1 .  National  Reinsurance  Corporation  of the Phils.

SERVICING  INSURANCE  COMPANY
1 .  Sun Life Assurance  Company  of Canada
2 .  Generali Pilipinas  lnsurance  Company,  lnc.

Reference: Office of the Insurance Commission 
Komisyon ng Seguro | www.insurance.gov.ph

Disclaimer: The data above came from the official website of insurance commission in the Philippines. If you found error, please report it immediately to make immediate changes in this data. I am not affiliated to any of the  insurance companies mentioned. Ask the financial experts or insurance experts related to buying an insurance.

It is always depend on your needs when buying an insurance, you can buy an insurance with investment if you really need it, or insurance only and invest your money with other companies. Some words written here are just an opinion, to avoid mistakes, please ask the experts in this field before making any decision. Do not forget, insurance is very important before diverting your attention into investing.

Money Quote for the Day:

The wealthiest people I know are good decision makers. They don’t procrastinate or live in denial. They take time to identify all the issues, research the alternatives, and select the best answer. – Larry Waschka on The Complete Idiot’s Guide to Getting Rich

want to add other insurance companies in the Philippines that are not listed in this page? Leave their name, address and other useful information in the comment box below.