4.18.2016

Top Life Insurance Companies in the Philippines, by Net Worth Dec 2015

By Nora
Here's a tentative* ranking of the 30 life insurance companies in the Philippines, based on net worth as of December 2015:

Net Worth = Total Assets minus Total Liabilities

Rank   Insurance CompanyNet Worth   Net Worth   Rank
2015 BillionBillion2014
PesosPesos
20152014
1Philam Life 40.97028.7761
(Life unit)
2Insular Life 22.89227.3712
3Sun Life Phils 17.04516.3123
4Manulife Phils 12.6268.9854
5United Coconut Planters  8.7188.4295
6BPI Philam Life  5.3324.3506
7Philippine AXA Life  4.2902.8509
8Pru Life Insurance UK  4.2383.2258
9SunLife Grepa Financial  3.4843.4197
10Generali Pilipinas Life  3.2722.73410
11Beneficial Life 2.5122.53511
12PNB Life  1.431 1.08715
13Pioneer Life  1.3581.18313
14Caritas Life  1.0681.08814
15AsianLife & General 1.0370.92117
(Life unit)
16FWD Life  1.0181.422
17Manulife Chinabank Life  0.938 1.05316
18CLIMBS Life  0.910 0.76718
(Life unit)
19United Life  0.8770.49423
20Fortune Life  0.7860.71319
21Philam Equitable Life  0.6900.68620
22Phils. International Life  0.6380.59722
23Philippine Life Financial  0.621 0.24130
24First Life Financial  0.5300.31627
25Paramount Life  0.4190.29329
(Life unit)
26Philippine Prudential Life  0.4030.32326
27Country Bankers Life  0.3660.37724
28Cooperative Insurance System     0.311 0.29328
29Manila Bankers Life  0.3060.33525
30 CAP Life Insurance   0.20031

Notes:
1.  *Above ranking is tentative because it was based on submitted unaudited quarterly reports
2. BF Life Insurance, ranked No. 32 in December 2014, was put under receivership by the Insurance Commission on March 23, 2016. Atty. Iris Sylvia Lucero Bonifacio was designated as receiver. Policyholders are advised to file their claims with the Insurance Commissioner Emmanuel F. Dooc, through Atty. Iris Sylvia Lucero Bonifacio at Insurance Commission, 1071 United Nations Avenue, Manila.
3.  CLIMBS = Cooperative Life Insurance & Mutual Benefit Services
4.  BPI Philam Life was formerly Ayala Life
5.  Philippine Life Financial Assurance Corp. was formerly named AsianLife Financial Assurance Corp. Name was changed in June 2012. Philippine Life is a subsidiary of STI Investments Inc.
6. Great Domestic Insurance Co. of the Philippines (GDICP) was put under receivership by the Insurance Commission on November 11, 2015. The receiver is Mr. Rufino H. Abad.
7.  Sun Life Grepa Financial Inc. is a joint venture between Sun Life Financial Philippines and Yuchengco Group of Companies (YGC), with Sun Life's acquisition of 49% of  Great Pacific Life Assurance Corp. (Grepalife) in 2011.
Grepalife acquired another YGC member Great Life Financial Assurance Corp. in 2009.
 (See sunlifegrepa.com).

Source: Insurance Commission (insurance.gov.ph)

Top Life Insurance Companies, by Net Worth as of Dec 2014

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