33 Life Insurance Companies in the Philippines, August 2012
There are 33 life insurance companies in the Philippines whose licenses were renewed for the year 2012 to 2013, based on data released on August 14, 2012 by the Insurance Commission.
Licensed to sell both life and non-life insurance policies:
1. AsianLife and General Assurance Corp.
2. CLIMBS Life & General Insurance Cooperative
3. Paramount Life & General Insurance Corp.
4. Philippine American Life and General Insurance Co.
Licensed to sell ONLY life insurance policies:
1. AsianLife Financial Assurance Corp.
2. Banclife Insurance Co., Inc.
3. Beneficial Life Insurance Co., Inc.
4. BF Life Insurance Corp.
5. BPI-Philam Life Assurance Corp.
6. Caritas Life Insurance Corp.
7. Cooperative Insurance System of the Philippines
8. Country Bankers Life Insurance Corp.
9. First Life Financial Co., Inc.
10. Fortune Life Insurance Co., Inc.
11. Generali Pilipinas Life Assurance Co., Inc.
12. Great Life Financial Assurance Corp.
13. Insular Life Assurance Company, Ltd.
14. Manila Bankers Life Insurance Corp.
15. Manufacturers Life Insurance Co. (Phils.), Inc.
16. Manulife Chinabank Life Assurance Corp.
17. National Life Insurance Co. of the Philippines (placed under conservation in Oct 2012; pero hindi na pala nakakabayad ito ng benefits since 2010. Ewan kung bakit nasa list pa, at nagka-license pa…)
18. Philam Equitable Life Assurance Co., Inc.
19. Philippine AXA Life Insurance Corp.
20. Philippines International Life Insurance Co., Inc.
21. Pioneer Life Inc.
22. PNB Life Insurance, Inc.
23. Philippine Prudential Life Insurance Co., Inc.
24. Pru Life Insurance Corporation of U.K.
25. Sony Life Insurance (Phils.) Corp. (Sony Life of Japan has been reported to be withdrawing operations in the Philippines, based on a report in the Philippine Star, Dec 21, 2012)
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.
CAP Life Insurance Corporation was removed from the 2011 list
REAPPEARED on the LIST (was not on the 2011 list):
National Life Insurance Company of the Philippines
Changes in Names:
. AsianLife Financial Assurance Corporation
(name before 2003 was All Asia Life Assurance Corporation)
. AsianLife and General Assurance Corporation
(name before 2003 was ATR Professional Life Assurance Corporation)
. BPI-Philam Life Assurance Corporation
(formerly Ayala Life Assurance, Inc.)
. First Life Financial Company, Inc.
(name before 2007 was First Guarantee Life Assurance Co.)
. Great Life Financial Assurance Corporation
(name before 2007 was Nippon Life Insurance Company of the Philippines)
. Sun Life Grepa Financial Inc.
(Grepalife Financial, Inc. became Sun Life Grepa Financial Inc. in November 2011. Grepalife Financial, Inc. was formerly Great Pacific Life Assurance Corp.)
. Manulife Chinabank Life Assurance Corporation
(formerly The Pramerica Life Insurance Co., Inc.)
. Manulife Chinabank Life Assurance Corporation is a bancassurance joint venture company of China Banking Corporation (China Bank) and The Manufacturers Life Insurance Co. (Phils.) Inc. (Manulife Philippines), which was formerly The Manufacturers Life Insurance Company (Branch). Manulife Philippines is a wholly-owned subsidiary of Canada-based Manulife Financial Corporation.