Top Non-Life Insurance Companies, Assets Dec 2011

Here are the 21 non-life insurance companies in the Philippines that have surpassed the billion-dollar milestone in total assets as of December 2011, as published by the Insurance Commission on its website.

Insurance Company Assets in Billion Pesos
1.   Malayan Insurance Co. 14.422
2.   Pioneer Insurance & Surety Corp. 10.922
3.   Prudential Guarantee & Assurance Corp. 6.503
4.   BPI/MS Insurance Corp. 5.326
5.   Charter Ping An
(Philippine Charter Insurance Corp.) 4.689
6.   Chartis Phils. Inc. 3.659
7.   MAPFRE Insular Insurance Corp. 3.272
8.   PNB General Insurers Co. 3.260
9.   UCPB General Insurance Co. 3.099
10.   Federal Phoenix Assurance Co. 2.788
11.   Standard Insurance Co. 2.298
12.   Philippines First Insurance Co. 1.670
13.   Cibeles Insurance Corp. 1.641
14.   Asia Insurance Phils. Corp. 1.295
15.   Oriental Assurance Corp. 1.291
16.   MAA General Assurance Phils. Inc. 1.261
17.   Alliedbankers Insurance Corp. 1.197
18.   Paramount Life & General Insurance Corp.      1.176
19.   Insurance Company of North America 1. 140
20.   New India Assurance Co. Ltd. 1.115
21.   QBE Insurance Phils. 1.094

Non-life insurance includes the following:

Fire insurance
Motorcar insurance
Engineering insurance
Surety bonds
Performance bonds
Personal accident insurance
Marine cargo insurance
Personal liability insurance
Casualty insurance
Business Insurance
Home Protection insurance
Valuable Items Protection
Burglary and Housebreaking Insurance
Typhoon and Flood Insurance

National Reinsurance Corp. of the Phils. (NRCP) , the only domestic life and non-life reinsurance company in the Philippines, posted a total assets of 11.941 billion pesos as of December 2011.

The 3 principal stockholders of NRCP or PhilNaRe as of December 2012 are:
GSIS (25.73%)
MICO Equities Inc. (12.89%)
Bank of the Philippine Islands (13.69%)

The other top stockholders are FGU Insurance Corp., Malayan Insurance Co., Philippines First Insurance Co., Philippine American Life Insurance Co. and many insurance companies.

1 Comment

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  1. Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot and civil commotion.-..^.

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