I’ve been getting a lot of email inquiries asking who the real Top Life Insurance Company in 2012. Some of them were saying according to the news, it is Sun Life. But according to some people they talked to from Pru Life UK, it is them. And still, some say it is still Philam Life.
Though they are all over the news as well as blogs, this issue can be quite confusing really. Why? Simply because, Insurance Commission used to rank these life insurance companies based on different categories. But that was in the previous years.
Starting last year 2012, for the Top Life Insurance Company in the Philippines, the Insurance Commission consolidated the categories into just one report – based on Premium Income. But then again, I’m not saying that they are wrong when one insurance company claims they are number one in a certain category. That may be true and they are entitled to that. But you now know what’s the real measurement, it is based on Premium Income.
Premium income is actually the grand total of all the other categories namely First Year Annualized Premium, Single Pay Premiums and Renewal Premiums. You can actually check the uploaded file in the website of Insurance Commission here
[Insurance Commission Report on Top Life Insurance Companies of 2012]
– Click to Download here
Real Top 10 Life Insurance Companies of 2012
So who are the real Top 10 Life Insurance Companies of 2012? Check out the ranking below based on the report of the Insurance Commission.
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2012 vs. 2011
What were the major changes in the ranking of 2012 vs. 2011?
[Top Life Insurance Companies in 2011]
- Sun Life’s lead from the 2nd was a tremendous 5 Billion (almost) from 2011’s 300 Million
- Pru Life UK is now 2nd from last year’s 4th place
- Philam Life dropped to 3rd place from last year’s 2nd place
- AXA Life dropped to 4th place from last year’s 3rd place
- BPI Philam moved to 5th place from last year’s 6th place
- Insular dropped to 6th place from last year’s 5th
- 7th and 8th place remain unchanged – still Manulife and Sun Life Grepa
- Manulife Chinabank moved to 9th place from last year’s 12th place
- PNB Life upped one notch to 10th from last year’s 11th place
- United Cocolife bagged the 11th down from last year’s 9th place
- Generali dropped to 12th place from last year’s 10th place
So next time someone claims their insurance company is the Top Life Insurance Company for 2012, you know better. 😀
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