1/10/2018

Top Life Insurance Companies by Assets 2016

Here's a ranking of the 30 life insurance companies in the Philippines, based on assets as of the year 2016, based on annual statements submitted to the Insurance Commission:



Rank   Insurance CompanyTotal Assets   Total Assets   Rank
2016BillionBillion2015 
PesosPesos
20162015
1Philam Life 200.789187.9041
(Life unit)
2Sun Life Phils 195.874180.7312
3Insular Life 132.071106.8933
4Philippine AXA Life  87.82379.1465
5Pru Life Insurance UK 86.27480.7024
6BPI Philam Life  85.51373.2407
7Manulife Phils 84.42874.3876
8SunLife Grepa Financial  41.74039.7888
9BDO Life Assurance  28.10721.79811
formerly Generali Pilipinas Life
10Manulife Chinabank Life  26.381 21.34512
11United Coconut Planters  23.96422.75910
12Allianz PNB Life  23.612 22.9069
13Pioneer Life  10.572 9.30113
14Beneficial Life 5.6745.29114
15First Life Financial  5.5394.82215
16FWD Life  5.3312.97117
17Fortune Life  3.9933.68416
18Paramount Life  2.6952.54518
(Life unit)
19AsianLife & General 2.0821.93919
(Life unit)
20Philippine Life Financial  2.050 1.80320
21CLIMBS Life   2.045 1.60821
(Life unit)
22Generali Life Assurance  1.423
23East West Ageas Life   1.355
24Philam Equitable Life  1.2541.19022
25United Life  1.1781.16423
26Caritas Life   1.0831.09224
27Country Bankers Life  1.0740.89827
28Cooperative Insurance System     1.0400.55928
29Phil. International Insurance  0.9811.02025
30Manila Bankers Life  0.4490.31629

Changes from the 2015 Ranking:

1. BDO Life Assurance Co. Inc. is the new name of Generali Pilipinas Life Assurance Co. Inc. 
    In 2016, BDO Unibank acquired Generali Pilipinas Holdings Company Inc. (GPHC), the parent company of life insurer Generali Pilipinas Life Assurance Company (GPLAC) and non-life insurer
Generali Pilipinas Insurance Company (GPIC).

2. Generali Life Assurance Philippines Inc. was relaunched in 2016 as a life insurance company after it was acquired by Generali Group of Italy. It was formerly a non-life insurer.

3. Allianz PNB Life Insurance, Inc. is the new name of PNB Life Insurance Inc., the life insurance subsidiary of Philippine National Bank (PNB), after 51% of PNB Life Insurance was acquired by Allianz in 2016.

4.  EastWest Ageas Life Insurance Corp. (EastWest Ageas Life) is a new life insurance company licensed by the Insurance Commission in 2016. It's a joint venture of EastWest Bank and Belgian-based international insurance group Ageas Insurance International NV (Ageas).

5. Phil. International Insurance refers to Philippines International Life Insurance Company Inc.

6. Philippine Prudential Life Insurance Co. (PPLIC) was placed under receivership by the Insurance Commission on September 27, 2017.  PPLIC was No. 26 in total assets in the 2015 life insurance company ranking. It had nearly 948.6 million pesos in assets in 2015.

7. CAP Life Insurance had the lowest total assets in the Insurance Commission's ranking of insurance companies in 2015. It had only 316.2 million pesos in assets.  Now it's no longer in the list.

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