9.04.2014

List of Life Insurance Companies Licensed 2013-2014

By Nora
Here are the 29 Life Insurance Companies licensed by the Insurance Commission to sell life insurance policies for the years 2013 to 2014.

List is alphabetically arranged.

1.    AsianLife and General Assurance Corporation *
2.    Beneficial Life Insurance Company, Inc.
3.    BF Life Insurance Corporation
4.    BPI-Philam Life Assurance Corporation
5.    CLIMBS Life & General Insurance Cooperative *
6.    Caritas Life Insurance Corporation
7.    Cooperative Insurance System of the Philippines
8.    Country Bankers Life Insurance Corporation
9.    First Life Financial Company, Inc.
10.   Fortune Life Insurance Company, Inc.
11.   Generali Pilipinas Life Assurance Company, Inc.
12.   Insular Life Assurance Company, Ltd., The
13.   Manila Bankers Life Insurance Corporation
14.   Manufacturers Life Insurance Company (Phils.), Inc.
15.   Manulife Chinabank Life Assurance Corporation
16.   Paramount Life & General Insurance Corporation *
17.   Philam Equitable Life Assurance Company, Inc.
18.   Philippine American Life and General Insurance Company *
19.   Philippine AXA Life Insurance Corporation
20.   Philippine Life Financial Assurance Corp.
21.   Philippine Prudential Life Insurance Co., 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.   Sun Life Grepa Financial Inc.
27.   Sun Life of Canada (Philippines), Inc.
28.   United Coconut Planters Life Assurance Corp.
29.   United Life Assurance Corp.

* These 4 companies are licensed to sell both life and non-life insurance policies.

Update as of Oct 1, 2015: This is the new list of Licensed Life Insurance Companies.

Name Changes in Recent Years:

.  AsianLife and General Assurance Corporation
(formerly ATR Professional Life Assurance Corporation)

.  First Life Financial Company, Inc.
(formerly First Guarantee Life Assurance Co.)

.  BPI-Philam Life Assurance Corporation
(formerly Ayala Life Assurance, Inc.)

.  AsianLife and General Assurance Corporation
(formerly ATR Professional Life Assurance Corporation)

.  Great Life Financial Assurance Corporation
(formerly Nippon Life Insurance Company of the Philippines)

.  Manulife Chinabank Life Assurance Corporation
(a joint venture between the China Banking Corporation (China Bank) and Manufacturers Life Insurance Co. Philippines (Manulife Philippines) after Manulife's acquisition of Pramerica Life Insurance Company, Inc)

.  Sun Life Grepa Financial, Inc. (formerly Grepalife Financial, Inc., a joint venture between Rizal Commercial and Banking Corp. (RCBC) and Sun Life Financial)


In 2012, there were 33 licensed life insurance companies.
Why Are the Other 4 Companies Not in the List?


.  The life insurance portfolio of Sony Life Philippines was acquired by Paramount Life & General Insurance Corp. in December 2012.

Great Life Financial Assurance Corporation
(Great Life is in the Premium Income List for 2013, but it has no numbers in all the premium columns)

Banclife Insurance Company, Inc.
(Banclife is in the Premium Income List for 2013, but it posted only renewal premium income)

CAP Life Insurance Corporation
(CAP Life is not in the Premium Income List for 2013, but it is in the Net Worth List for 2013)

It was noted that by the IC that the following have not submitted their premium income reports for 2013:
BF Life
Beneficial Life
CAP Life
Caritas Life
Philippine Interlife (both net worth and premium income reports not submitted)

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