Which Insurance Companies In The Philippines Have Money? Govt Issues Report

Following the dismal reports on Loyola Plans and the disappointment of their plan holders, the Insurance Commission announced today on TV that a few companies are left and duly authorized to operate in the country.

The agency shared that a report on the Statistical Data for Pre-Need Companies like Loyola Plans is available in their website www.insurance.gov.ph. As per checking, there is a report covering the year 2015.

As of March 30, 2016, there are 11 companies with Certificates of Authority for License Year 2016 but this does not include Loyola Plans. The following are:

List of Insurance Companies Authorized To Operate In The Philippines in 2016

Ayala Plans, Inc
Caritas Financial Plans, Inc
City Plans Inc
First Union Plans, Inc.
Himlayang Pilipino Plans, Inc
Manulife Financial Plans, Inc
Mercantile Care Plans, Inc
PhilPlans First Inc
Sunlife Financial Plans INc
Trusteeship Plans Inc

As of December 31, 2015 there were 19 companies that were in the Insurance Commission’s data.

Life Plan Sellers:
AMA Plan Inc
Caritas Financial Plans
Cityplans Inc
First Union Plans, Inc
Future Planners
Paz Memorial Services
St Peter Life Plan, Inc

Pension Plan Sellers:
Ayala Plans, Inc.
Himlayang Pilipino Plans, Inc.
Manulife Financial Plans, Inc.
Mercantile Care Plans, Inc.
Provident Plans Intl Corp
Sunlife Financial Plans
Transnactional Plans, Inc.
Education Plan Sellers:
Cocoplans Inc
EternalPlans, Inc
Loyola Plans Consolidated Inc
Philplans First Inc
Trusteeship Plans, Inc

Below is the PreNeed Industry Performance Report As Of December 2015