What are the top 10 life insurance companies in the Philippines for 2010? The answer depends on which criteria is used. The Insurance Commission ranks companies using various criteria:
- First Year Premiums + Single Premiums
- First Year Premiums
- Premium Income
- Net Income
- Investment at Cost
- Paid-Up Capital
- Assets
- Net Worth
The insurance companies consider the ranking on First Year Premiums + Single Premiums as a key indicator of performance. This indicator shows which life insurance companies are getting new business from their clients. If you get a new life insurance policy that has a premium of P60,000 a year, then that company will have P60,000 First Year Premium for the current year only (your second year premium is not counted any more). If you place a lumpsum of P1,000,000 in a one-time placement plan with that same life insurance company, than that P1,000,000 will be considered as a single premium.
Top 10 According to First Year Premiums + Single Premiums
| Name of Company | Traditional | Variable | Total |
|---|---|---|---|
| 1. Phil. Axa | 616,428,165 | 6,027,918,272 | 6,644,346,437 |
| 2. Pru Life | 175,986,881 | 5,052,649,855 | 5,228,636,736 |
| 3. BPI Philam | 225,032,348 | 4,340,230,649 | 4,565,262,997 |
| 4. Insular Life | 1,520,803,395 | 1,748,031,799 | 3,268,835,194 |
| 5. Philam Life & Gen. | 1,388,664,568 | 1,295,175,982 | 2,683,840,550 |
| 6. Sunlife | 855,060,789 | 1,582,013,328 | 2,437,074,117 |
| 7. Great Pacific Life | 2,381,562,200 | - | 2,381,562,200 |
| 8. Manulife (Phils) | 760,052,349 | 653,526,640 | 1,413,578,989 |
| 9. Manulife Chinabank | 172,009,166 | 790,334,379 | 962,343,545 |
| 10. United Cocolife | 727,149,469 | 217,704,000 | 944,853,469 |
Top 10 According to First Year Premiums
| Name of Company | Traditional | Variable | Total |
|---|---|---|---|
| 1. Sunlife | 557,257,244 | 1,065,190,597 | 1,622,447,841 |
| 2. Philam Life & Gen. | 1,171,377,780 | 149,286,397 | 1,320,664,177 |
| 3. Great Pacific Life | 938,580,871 | - | 938,580,871 |
| 4. Phil. Axa | 616,428,165 | 282,930,229 | 899,358,394 |
| 5. Insular Life | 844,849,342 | 25,297,799 | 870,147,141 |
| 6. Pru Life | 167,575,943 | 612,112,398 | 779,688,341 |
| 7. United Cocolife | 718,487,705 | 4,988,055 | 723,475,760 |
| 8. Generali Pilipinas | 641,580,539 | - | 641,580,539 |
| 9. Manulife (Phils) | 552,346,711 | 5,880,805 | 558,227,516 |
| 10. Asian Life & Gen. | 366,051,587 | - | 366,051,587 |
Top 10 According to Investment at Cost
| Name of Company | Investment At Cost |
|---|---|
| 1.Philam Life & Gen. | 116,769,464,272 |
| 2. Sun Life | 70,406,140,495 |
| 3. Insular Life | 53,687,335,844 |
| 4. Manulife (Phils.) | 26,582,176,243 |
| 5. BPI Philam | 15,330,804,996 |
| 6. Unicoco Life | 14,966,120,689 |
| 7. Grepalife Financial | 12,986,080,869 |
| 8. Phil. AXA | 11,293,095,254 |
| 9. Generali Pilipinas Life | 8,859,331,420 |
| 10. Pru Life | 7,056,376,637 |
Top 10 According to Premium Income
| Name of Company | Premium Income |
|---|---|
| 1. Philam Life & Gen. | 11,254,874,199 |
| 2. Sunlife | 10,633,280,619 |
| 3. Phil. Axa | 8,359,866,264 |
| 4. Pru Life | 7,356,704,771 |
| 5. Insular Life | 7,129,014,421 |
| 6. BPI Philam Life | 5,695,869,300 |
| 7. Manulife (Phils) | 3,974,603,127 |
| 8. Grepalife Financial | 3,492,356,444 |
| 9. United Cocolife | 2,333,374,408 |
| 10. Generali Pilipinas | 1,419,746,109 |
Top 10 According to Net Income
| Name of Company | Net Income | Capital Gains | Total |
|---|---|---|---|
| 1.Philam Life & Gen. | 1,928,841,576 | - | 1,928,841,576 |
| 2. Insular Life | 1,392,900,999 | 498,672,059 | 1,891,573,058 |
| 3. Sunlife | 1,801,481,408 | - | 1,801,481,408 |
| 4. Manulife (Phils) | (374,618,309) | 2,128,041,423 | 1,753,423,114 |
| 5. Manulife (Branch) | 1,647,579,362 | 3,990,468 | 1,651,569,830 |
| 6. Phil. Axa | 665,311,252 | 54,517,121 | 719,828,373 |
| 7. BPI Philam Life | 122,400,379 | 269,505,101 | 391,905,480 |
| 8. Grepalife Financial, Inc | 386,737,278 | 816,424 | 387,553,702 |
| 9. Pru Life | 194,240,199 | 44,569,361 | 238,809,560 |
| 10. Generali Pilipinas Life | 232,430,719 | - | 232,430,719 |
Top 10 According To Paid-Up Capital
| Name of Company | Paid-Up Capital |
|---|---|
| 1. Philam Life & Gen. | 1,925,000,000 |
| 2. Sony Life | 937,000,000 |
| 3. BPI Philam Life | 749,972,400 |
| 4. United Cocolife | 550,000,000 |
| 5. Sunlife | 500,000,200 |
| 6. Great Life Financial | 500,000,100 |
| 7. Pru Life | 500,000,000 |
| 8. Manulife Chinabank | 425,000,000 |
| 9. Manulife (Phils) | 425,000,000 |
| 10. Phil. Axa | 350,000,223 |
Top 10 According To Assets
| Name of Company | Assets |
|---|---|
| 1. Philam Life & Gen | 130,605,747,871 |
| 2. Sun Life | 87,049,468,895 |
| 3. Insular Life | 71,237,113,621 |
| 4. Phil. AXA | 34,276,649,730 |
| 5. Manulife (Phils.) | 28,973,309,239 |
| 6. Pru Life | 22,519,767,012 |
| 7. Ayala Life- BPI Philam | 19,985,956,922 |
| 8. Unicoco Life | 16,606,677,303 |
| 9. Great Pacific Life | 14,657,267,007 |
| 10. Generali Pilipinas Life | 9,199,617,664 |
Top 10 According To Net Worth
| Name of Company | Net Worth |
|---|---|
| 1. Philam Life & Gen. | 22,835,256,510 |
| 2. Insular Life | 18,288,079,650 |
| 3. Sunlife | 8,448,184,452 |
| 4. United Cocolife | 8,049,619,400 |
| 5. Manulife (Branch) | 5,986,230,020 |
| 6. Manulife (Phils) | 5,251,721,058 |
| 7. Grepalife Financial, Inc | 3,908,393,875 |
| 8. Phil. Axa | 2,497,206,076 |
| 9. BPI Philam Life | 2,258,721,950 |
| 10. Beneficial | 1,580,985,274 |