Top 10 Philippine Life Insurance Companies for 2010

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

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