The Insurance Commission (IC) has revealed that Sun Life Canada (Philippines) and Prudential Guarantee and Assurance Inc (PGAI) remained the highest-ranked life and non-life insurance company, respectively, in terms of premium income in 2020.
Based on insurance companies’ reports submitted to the IC as of the end of December last year, Sun Life topped life insurance companies with a premium income of PHP39.27bn ($812m) in 2020, while PGAI led the non-life sector with net premiums written (NPW) amounting to PHP4.55bn.
Both Sun Life and PGAI were also ranked number one in their segments in 2019.
PGAI has led non-life insurance companies in NPW for five consecutive years, from 2011 to 2015, then again from 2017 to 2020.
Published April 24, 2021, 6:00 AM
Based on net premiums
The Prudential Guarantee and Assurance, Inc. (PGAI) remained the top non-life insurance company in terms of net premiums last year.
Based on the 2020 rankings released by Insurance Commission, PGAI registered the highest net premiums among non-life insurers at P4.55 billion, effectively maintaining its top spot position for four consecutive years based on companies’ quarterly reports on selected financial statistics submitted to IC at the end of December last year.
Second on the list was Malayan Insurance Co., Inc. with P4.08 billion, followed by Pacific Cross Insurance, Inc. with P3.32 billion and Pioneer Insurance & Surety Corp. with P2.97 billion.
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