Largest life insurance companies in the Philippines 2018, by premium income

The Philippines' steady economic growth has resulted in the spurring of the country's life insurance business into a multi-billion-peso industry. As of 2018, Sun Life Canada was the largest life insurance company in the country with a premium income of 37.4 billion Philippine pesos.

Life insurance in the Philippines

  Between 2012 and 2017, the growth rate of life insurance premiums in the Philippines was fairly high compared to its ASEAN neighbors measuring over 14 percent, second only to Vietnam. While there was an increase in the number of new policies issued under the variable life insurance scheme between 2016 and 2017, the number of traditional life insurance policies issued had decreased considerably in that same period.

Life insurance – a viable market

  As more and more Filipinos were made aware of insurance benefits through policy awareness campaigns launched by insurers, their clientele multiplied. Of the two kinds of life insurance policies, the variable life policy appeared to have been more popular. Premium incomes earned through traditional and variable life insurance policies in 2017 peaked at 54 billion and 149 billion Philippine pesos, respectively.

Largest life insurance companies in the Philippines in 2018, by premium income

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Source

Release date

May 2019

Region

Philippines

Survey time period

2018

Supplementary notes

One Philippine peso is equal to 0.019 U.S. dollars or 0.017 euros as of October 2019.
Figures have been rounded.
Values are based on unaudited quarterly statistics.

Only the ten leading companies are included in the list.

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