I was able to get hold of the Top 15 Insurance Companies in the Philippines based on Assets as of December 31, 2007. This is according to the records of the Insurance Commission, the government agency which regulates and supervises the insurance industry in the Philippines.
I must say that with the Insurance Commission (IC), policy holders need not worry about the financial crisis that we usually hear on the radio or tv. Why is that? IC actually requires a certain contingency fund for each Insurance companies that can be used during unexpected events. These contingency fund shall remain liquid and not to be touched.
Here’s the Top 15 Insurance Companies in the Philippines as of December 2007 in terms of Assets
| NAME OF COMPANY |
ASSETS |
| 1. Philippine American Life & Gen. Ins. Co., Inc. | 108,348,283,981 |
| 2. Sun Life of Canada (Phils.) Inc. | 66,932,086,783 |
| 3. Insular Life Assurance Co., Ltd., The | 57,196,242,053 |
| 4. Phil. AXA Life Insurance Corp | 33,062,663,003 |
| 5. Manufacturers Life Insurance Co., Inc. The (Phils.) | 19,869,631,728 |
| 6. Ayala Life Assurance, Inc. | 12,096,430,078 |
| 7. Pru Life Insurance Corp. of UK | 12,011,024,748 |
| 8. United Coconut Planters Life Assurance Corp | 10,923,093,889 |
| 9. Great Pacific Life Assurance Corp. | 7,689,037,413 |
| 10. Generali Pilipinas Life Assurance Co., Inc. | 5,998,037,527 |
| 11. Manufacturers Life Insurance Co., Inc. The (Branch) | 4,962,757,665 |
| 12. National Life Insurance Co. of the Phils | 3,039,885,511 |
| 13. Pioneer Life Inc. (Pioneer Allianz) | 2,919,446,899 |
| 14. Great Life Financial | 2,844,611,085 |
| 15. Beneficial PNB Life Insurance Co., Inc. | 2,718,265,732 |
Taken from the Insurance Commission Website (http://www.insurance.gov.ph)