Top 20 Non-Life Insurance Companies in the Philippines [INFOGRAPHIC]

April 16, 2020 by Erwin Reyes

https://ichoose.ph/blogs/top-20-non-life-insurance-companies-philippines/

Top 1
Malayan Insurance Company, Inc. (Php 11 billion)
Malayan Insurance Company, Inc. topped the Insurance Commission’s list in terms of Gross
Premiums Written. Malayan Insurance has about a billion pesos lead over the next insurer on the
list.
For about 50 years, Malayan Insurance has been the leading non-life insurer for businesses and
families in the Philippines. Malayan Insurance introduced new products and services to the
insurance market in the Philippines, including travel insurance and motorcycle insurance.
Malayan Insurance Company is the only non-life insurance company in the Philippines rated by
AM Best. The rating it received are the following:
 Financial Strength Rating: B++ (Good)
 Insurer Credit Rating BBB+
Thanks to AM Best’s rating, the Malayan Insurance company is classified as a world-class
insurance company.

Top 2
Prudential Guarantee & Assurance, Inc. (Php 9.8 billion)
Prudential Guarantee & Assurance is the second insurance company in the Insurance
Commission’s list and has maintained its position for several years. Prudential Guarantee’s gross
premiums written of about Php 9.8 billion makes it one of the largest non-life insurance
companies operating in the Philippines.
Prudential Guarantee has expanded and now has about 39 offices around the country with more
scheduled to open. Among the company’s clients belong in the country’s top 1,000 corporations.

Top 3
Pioneer Insurance & Surety Corp. (Php 9.3 billion)
Pioneer Insurance & Surety Corporation is the third insurance company in the Insurance
Commission’s rankings. Pioneer’s gross premium written is around 500 million short of
Prudential’s but is still among the top companies in the Philippines.
Pioneer has been serving Filipinos for more than 60 years with its non-life and life insurance
products. Among its non-life insurance services are property, marine, motor, and aviation.

Top 4
BPI/MS Insurance Corp. (Php 5.8 billion)
BPI/MS is a joint venture between the Bank of the Philippine Islands and Mitsui Sumitomo
Insurance Company. BPI/MS is one of the top insurance companies in the Philippines and can be
trusted to provide excellent services to let people and businesses pursue their goals without
worries.
BPI/MS aims to keep individuals from living in a blur amidst the many uncertainties in the
country. BPI/MS is ranked fourth based on their gross premium written.

Top 5
Charter Ping An Insurance (Php 5.7 billion)
Charter Ping An is committed to delivering the best insurance services for the interest, needs,
and protection of our customers.
Charter Ping An Insurance Corporation is ranked fifth among the country’s non-life insurance
companies based on gross premium written. Charter Ping An offers multiple insurance products
and services, including fire, car, marine, personal accident, bonds, casualty, and engineering
insurance.
The various brokers and agents of Charter Ping An Insurance Corporation are strategically
situated across the country.