The Top Life Insurance Companies of 2012

By Randell Tiongson on June 11th, 2013

The Insurance Commission recently released the top Life Insurance Companies according to Total Premium Income as of December 31, 2012. There were a lot changes in the rankings from 2011, particularly in the top 5 rank.

Canadian insurer Sun Life Retains it’s number 1 position, a position it held since last year when they wrestled it from American insurance giant Philam Life. What is interesting to note is not only did they retain their ranking, the gap between the first and the second ranked company widened by a huge margin. In 2011, Sun Life surpassed Philam Life by a mere 300 Million by year end. By contrast, Sun Life’s difference from the runner-up in 2012 was a whopping 5 Billion Pesos with an astounding 44% growth from their 2011 numbers. It seems that Sun Life has been very productive and their various initiatives was bearing fruit, obviously — something her competitors are really seriously looking at for sure.

Coming in at 2nd place is the U.K. insurer Pru Life who had an astonishing growth and a jump of 2 notches from 4th in 2011 to 2nd in 2012. Last year was definitely a banner year for Pru Life who I noticed have been very active in its recruitment of more agents, among other initiatives. Moving 2 notches in the top 5 rank is no easy feat but Prulife of UK goes ahead of Philam Life who slips from number 2 in 2011 to number 3 in 2012. Prulife UK registered a huge growth of 57% from its previous year’s numbers which was enough to overtake Philam, albeit by a narrow margin of about 300 Million Pesos. Philam Life registered a growth of 13% from its 2011 premium base.

French insurer and one of the country’s pioneer in Bancassurance, Philippine AXA slips from it’s 2011 rank of number 3 to the 4th largest insurer by 2012 with a very respectable 23% growth in premiums from 2011 to 2012. Coming at the 5th place is BPI-Philam, the Bancassurance partnership between BPI and Philamlife who overtakes Insular Life who lands at the 6th spot. BPI Philam registered an incredible 78% growth from its 2011 numbers and was 800 Million Pesos away from Philippine AXA’s 4th rank. Insular Life delivered good numbers in 2012 with a growth of 23% from its previous year’s premium base.

Canadian insurer and the 2nd oldest life insurer in the Philippines Manulife and the Bancassarance organization Sun Life Grepa retains its 2011 rankings at 7th and 8th respectively. Both organizations also registered good growth in 2012.

Manulife Chinabank and PNB Life, both Bancassurance dominated organizations are in the top 10 ranks at number 9 and 10 respectively, also registering good growth numbers.

Cocolife and Generali Philippines slips out of the top 10 rankings by the end of 2012.

Some interesting facts:

1) 2 out of the top 5 insurers are predominantly Bancassurance organizations. Simply put, Bancassurance is an organization that can sell insurance products to the bank clients and are co-owned by an insurance company and a bank.

2) 5 out of the top 10 insurers are predominantly Bancassurance Organizations.

3) 3 companies in the top 10 are actually subsidiaries of 3 other companies in the roster.

4) Only 1 Filipino insurance companies makes it to the top 10, Insular Life making them the largest Filipino insurance company. 

5) Total Premiums generated by all Life Insurance companies totaled to P119,454,550,174

Congratulations to all the Life Insurance companies. My prayer is that more and more Filipinos understand the benefits of life insurance and be protected from life’s uncertainties.



52 thoughts on “The Top Life Insurance Companies of 2012”


    Astonishing growth indeed for this company of just 17 years of operation in the Philippines. Beating 65 year old Philam Life and the 100 year old Insular Life, rising fast at 2 notches this time.

    Such a speedy growth at a very short span of time will surely make that 5 Billion peso difference with Sun Life a bit flimsy. Sun Life should be better be nervous.

    Thank You

  • PRULIFE UK is the #1 according to the New Business Premium of 2012.
    P12,906,449,828.00. Since Market share is measured in terms of Sales for the Year of reference and does not include sales of prior years.

  • Include Philamlife’s bancassure which is bpi philam, they should have a total of 21M++, a 1M higher than sunlife’s combined sale

  • Nice i got my sun life insurance company… but i work for Allstate Life INsurance – A US based Insurance Company were on top 60 of the fortune companies

  • I agree with you Michael…And perharps the best measure would be the Net Worth.

  • My story may not have any bearing on insurance, but yours just gave me a cue to talk about it — as both involve pre-need service. Mine may only be a way for me to voice out my despair over what happened to my educational plans for two of my kids with The Professional Group (TPG). It took me years to have fully paid the plans (one for high school and two for college), seemed just in time for my retirement — hoping that after which I would not have to worry about making them through their courses, one being the youngest and the other the second youngest. Ha, ha… I retired and both kids finished college — on my own sweat and blood — with the TPG yet to pay for what I spent in their education. Yes, after retirement and years of scrounging for what they had to pay the school. Again, ha, ha!

  • Sun Life bancassurance is Sun Life Grepa @ 5.8B
    Sun Life of Canada (Phil’s) @ 20B
    Total: 25.8B
    What a great company to work with being the #1…sweeter the 2nd time
    This does not include Sun Life Asset Management
    AUM 30B
    Isn’t this GREAT!!!

  • With the total premium income collected worth Php 119.45 billion by all insurance companies in 2012 as compared with Php86 billion in 2011, you can see that more and more Filipinos understand the importance of getting life insurance – protection from life’s uncertainties.

  • Pru Life UK is number 2 overall which is a combination of Traditional and variable insurance products. Pru Life UK, however, leads SunLife in Variable products by a whooping margin of P2.5B! This feat of Pru Life UK is not surprising because, afterall, they are the pioneer in Variable Universal Life (VUL) insurance products in the Philippines. If need to know more about the amazing products of Pru Life UK, you may email me at [email protected].

  • Wow! Thank you for always sharing this RFP Randell. I am looking forward to be a RFP soon — a step forward to leverage my learning and expertise.

    Among the TOP 4, I am proud to represent, AXA, #1 global insurance brand (top 20, FORTUNE 500 Worlds Largest Corporation) with only 14 years experience in the Philippines.

    Growth counts — makes us proud to be in the industry — to share the passion of savings and protection to our community and hopefully, a becoming more better Philippines for ALL of us! 🙂

  • Hi Sir Randell,

    I have been reading your blogs and learn alot from it.
    Want to seek for advice, my siblings and I were planning to get a insurance for my parents they are already at 80and 75 age.Is it still advisable to avail such?
    Naisip po nmin to just incase may mangyari sa kanila may natabi na po kami kasi po lahat kaming 6 na mag kakapatid nasa abroad na with family ung 2 sa pinas sila to take care of my parents
    Follow up pa po, meron po ba available na memorial plan din po kaya and ano kaya suited sa situation nmin.
    I am working here in singapore with family din po.


  • Way to go Sun Life! Ive been eyeing on investing to this kind of funds. Wiser to consider the life and health protection. looking at the statistics, Sun is number 1, kasi nasakop nila ang Grepa Life, else, i’d probably go for Pru Life UK. People, EastSpring handles their funds, if i would take risks, i’d go for the best option. Plus, people in this UK company are very accomodating and warm. Cheers!

  • I would appreciate your comments/views on the financial capability of Paramount Life and General Insurance Corp. I dont see them in the list of top 15 life insurance companies

  • I would like to ask you about Philippine Prudential Life Insurance Company. Can you please tell me about this company, and why they engage this kind of recruitment approach to the people. Yesterday, Oct. 19, 2013, I was called by one of its agents and they told me that I won the price during their random selection and they want me to bring my ATM or CC, but when I arrive to their office, he give me the price but he offered me a life insurance plan and then I was forced to buy it. Are they became bankrupt sooner or later? And I was worried because there are many bad comments about this company and I was afraid if my accounts will be forfeited. better to answer me this blog and also to my email. thanks…

  • If you feel that they acted unethically in their sales pitch or have misrepresented themselves, you may file a complaint with the Office of the Insurance Commission.

    Personally, I would prefer speaking to professional financial advisers for my finance needs like insurance.

  • Hi! We are planning to join an insurance company. Which company gives better compensation, salary, and bonuses to its agent? Consider also the difficulty of each corporate ladder. I heard Philam employs cross industry recruitment with quota based salaries aside from commissions and bonuses if a person can show his/her potential. Pru Life UK on the other hand uses bonuses on each quota reached. Etc… Please give us an idea. We are a team composed of leaders with sales oriented history planning to give a shot at the insurance industry. Thank you. God bless.

  • You’ll have to talk to several agencies and make a decision based on what you see will be a best fit.

  • Thankyou sir Randell for this very informative article,it creates a room for us life insurer thus it also promotes a sense if camaraderie.With this iam proud to voice out our culture here in Generali Philippines ,our presence in our country and the growing number of our team as financial advisors.Godbless us all…

  • Congratulations to all life insurance companies who performed very well this 2012. The most infortant of all is our commitment to help our fellow Filipinos to achieved financial prosperity and freedom. We in Philamlife is proud based to its performance and sincerity to fullfil each dreams from generation to generations.

    By doing the right thing, with the right company and people we still the no.1 life insurer in the country.

    Anong plano mo? Usap tayo.
    E: [email protected]
    C: 0916-6858103
    DL: 710-5286

  • For 2013, Insular Life made it to Number 1 according to NETWORTH (Source : Insurance Commission). Me and my husband are so proud to be a part of this prestigious company. 104 years old of service for the filipino by the filipino !

    Magandang Araw Ngayon ! Magandang Buhay Bukas !
    Want to know of our product please email [email protected]

  • To all insurance agent,

    I’m Ariel , 28 yrs old . I need a Insurance life for my self and for my wife for our retirement and future purposes or any inevitable incident or circumstances. I’m interested to get a insurance to you guys. I’ll review any proposal from any insurance company.

    Please leave your proposal so that I can review.
    Here’s my email add [email protected]

    Thank you and more power!

  • To all insurance agent,

    I’m Ariel , 28 yrs old . I need a Insurance life for my self and for my wife for our retirement and future purposes or any inevitable incident or circumstances. I’m interested to get a insurance to you guys. I’ll review any proposal from any insurance company.

    Please leave your proposal so that I can review.

    Thank you and more power!

  • Good day. I have sent a proposal via email. Please feel free to ask or request any specifics to your needs. Thank you.

    “Always Listening. Always Understanding.”

  • Hi to all,

    Good day to all, I would like to ask about what should I have if I’m planning for my future like retirement, but I’m still 27y/o. Yung tipping may makukuha pa din ako or pwede kong mkakuha yung pera ko pa din.

    Thank You,
    Erick Charles Santos

    Please email me at [email protected]

  • Hi Ariel! I am a financial adviser from Manulife and I can definitely help you plan your finances for your retirement and future purposes. Send me an email at [email protected] or send me an SMS at +639157632337 so we can discuss about your needs and solutions. 🙂

  • Hi Ericke Charles! I’m a financial adviser from Manulife. We have solutions that accomodate your need, which is insurance + investment. Send me an email at [email protected] or send me a text at +639157632337 so we can discuss about these solutions. 🙂

  • In choosing where to invest your money, you have to consider the most profitable and most trusted company in the Philippines. Philamlife received its 10th PLATINUM trusted brand award from Reader’s Digest Asia 2014. Chose by most of Filipinos.

    Anong plano mo? Usap tayo.
    E; [email protected]
    C; 0927-8510011
    DL; 710-5286

  • Hi, I’m interested in getting insurance for myself. I am 28years old. Can you guys from different insurance companies send me proposals that I can review and compare? Please send it to my email. Thanks in advance!

  • Hi sir. Anthony regarding your inquiry please allow me to have your date of birth, occupation and budget per month also your email address. I will forward my proposal asap.
    Thank you.

    Anong plano mo? Usap tayo.
    E: [email protected]
    C: 0927-8510011
    DL: 710-5286

  • Hi.
    Anyone connected with Manulife CA and Sunlife CA here? I am looking to get an insurance plan for my 2 children
    and husband and I want to see who has the best policy. I am currently reviewing Pru Life UK’s policies but would want to check out what the other 2 companies mentioned offer. I’m looking to get an educational, health and life insurance (in one) for the children and health and life for husband. My children are 9 and 0 years old. Husband is 39.
    I would appreciate if you can send me proposals to review. Email: [email protected]

  • Hi mam. Jodi I’m Roland Natividad Financial Advisor from Philam Life. I would like to help you regarding education plan, health and life insurance. Please allow me to have your children’s date of birth Fullname, date of birth and name of the payor. Regarding health plan please let me have Fullname of your husband, date of birth and occupation. I will immediately forward to you our proposal. I hope you choose Philamlife the largest and most trusted. Thank you.

    Anong plano mo? Usap tayo.
    E; [email protected]
    C; 0927-8510011
    DL; 710-5286

  • Good day ma’am Jodi. I am Bryan Maguling. It is good to know you are already planning for your family’s future. It is also wise for you to do a study of what companies are offering. I am a Financial Consultant of Pru Life Uk and I just want to affirm the products of our company has the most comprehensive protection especially variable insurance and has the Top 1 Fund Manager in Asia. Pru Life UK also pioneered life insurance with investment here in the Philippines. I believe somebody from Pru Life UK already presented you with a proposal. If you are not satisfied with the proposal, you can follow up changes with your agent. Or, I can make you one then you can make it a basis with your agent. Please send thru my email the following info:

    Complete Names
    Occupation (or how much you can comfortably set aside for all your family’s protection/month)

    Thank you.

    Bryan Maguling
    Assistant Unit Manager Magnetite Branch
    Pru Life UK

    [email protected]

  • I am a financial advisor from Sunlife of Canada (Philippines).

    I honor Sunlife for encouraging us to pay the right Taxes and have our profession be registered at the BIR after being licensed.

    I honor our Unit manager (Mrs.Juliet Fernandez) for always telling us to prioritize our Mission over Commissions.She always say,”Hindi naman ako ganun kayaman,ito lang tanging maitutulong ko para sa iba.”

    I honor our Branch Manager (Mr.Raul Alvarez) for his words of wisdom:”Whatever state of life you are in,Rich or poor,we all need Insurance.”

    I honor our job for the opportunity to HELP our own Family, Friends and Others in their Financial Security Needs. It was a goal come true na maaprubahan ang Mama ko for a Life Insurance at age 54.Since my father died at the young age of 47,leaving us nothing financially and we need to survive with help from our relatives especially from my kind uncle.I can’t imagine what would happen to us without his financial aid.

    In the financial industry, it is not a question of being on Top, it is always those who put their clients on top or priority that matters. Trust is always the very foundation of everything in life and in business.

    For Free Financial/Tax/Accounting Consultancy you may contact me thru:

    Email:[email protected]
    Mobile:+0922 785 4259
    “A good name is greater than any richness in this world.”

  • I would like to know about educational plans offered by Sun Life. How much per month and what are the benefits and returns. Thanks in advance!

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The Top Life Insurance Companies of 2012