Top Life Insurance Companies in the Philippines for 2011

I have good news to all Sun Lifers’ readers and Sun Life policy holders alike. Sun Life is the No. 1 Life Insurance company in the Philippines for 2011 based on premium income! That’s a mouthful.

 

This is according to the latest report released by the Insurance Commissionpdf file here

For the longest time, Philam life has been holding to that title even though there were other categories wherein Sun Life had been superior in the last 2 years. But getting the title “based on premium income” is quite a feat considering the size difference in the agency force of Philam Life with Sun Life.

[ad#content300] And how much is the difference in premiums? A measly around P300 million.

On no. 3 seat is Axa Life followed closely by Pru Life UK and Insular Life at 5th spot.

Comparing the ranking with that of Top Life Insurance companies in the Philippines in 2010, you’ll notice that the changes were not that much. Just a swap on the 1st and 2nd spot. PNB Life moved 1 notch from 12th place last year now on 11th place.

Asian Life moved 2 notches below to 13th place, Pioneer Life from 13th, now in the 14th place and Manulife Chinabank from 14th now in 12th place.

And if you’ll notice, the name of the game now is bancassurance like Sun Life Grepa which is non existent before.

Below is listing of the Top Life Insurance Companies in the Philippines for 2011.

 

Top Life Insurance Companies in the Philippines for 2011

RankCompanyTotal Premiums
1SunLife (Sun Life of Canada Phils Inc.)13,884,308,664
2Philam Life (Philippine American Life & General Insurance Co.)13,507,442,515
3Axa Life (Philippine AXA Life Insurance Corp.)9,983,494,021
4Pru Life UK (Pru Life Insurance Corp. of UK)9,900,022,868
5Insular Life (Insular Life Assurance Co. Ltd)7,483,646,727
6 BPI Philam (BPI Philam Life Assurance Corp. Inc.)6,420,399,324
7Manulife (Manufacturers Life Insurance Co. Phils Inc.)4,994,562,292
8SunLife Grepa (Sun Life Grepa Financial, Inc.)3,048,820,156
9United Cocolife2,916,473,766
10Generali Pilipinas Life Assurance Co., Inc.2,079,639,957
11PNB Life (PNB Life Insurance Inc.) 2,026,879,674
12Manulife Chinabank Life Assurance Corp. 1,732,352,220
13Asian Life & General Assurance Corp.1,298,458,158
14Pioneer Life Inc.1,058,272,554
15Phil Prudential Life Insurance Company Inc.979,585,514
16Fortune Life Insurance Company, Inc.828,661,373
17First Life Financial Company, Inc.715,435,317
18Paramount Life and General Insurance Corp.713,878,116
19Beneficial Life Insurance Corp.663,127,507
20CLIMBS Life & General Ins. Cooperative523,977,856
21Country Bankers Life Insurance Corp.310,638,028
22Cooperative Insurance System of the Phils304,355,986
23Asian Financial Life250,911,061
24Manila Bankers Life Insurance Corp128,394,370
25Philam Equitable Life Assurance Co. Inc.122,781,625
26Philippines International Life Ins.Co. Inc86,604,809
27Caritas Life Insurance Corp.68,894,412
28CAP Life Insurance Corp.67,250,301
29Manulife (Branch)66,340,729
30BF Life Insurance Corp.48,911,816
31Sony Life Insurance (Phils) Corp.46,848,675
32United Life Assurance Corp.43,619,424
33 Banclife Insurance Co. Inc40,705,946
34Great Life Financial Assurance Corp.

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Garry Zaldy de Castro is an advocate, Financial Advisor, Certified Investment Solicitor (Mutual Fund Representative), blogger, IT practitioner, husband to Aileen and a dad to Jacob and JohnD. He started Financial Planning Philippines in 2008 just to share his financial learning to friends, relatives and anyone who wishes to be financially independent.

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