Malayan In­sur­ance tops Philip­pine non-life rank­ing for 48th straight year

Watchmen Daily Journal - - Business -

Malayan In­sur­ance Com­pany, Inc. has once again se­cured its po­si­tion as the leader in the Philip­pine non-life in­sur­ance in­dus­try, based on 2017 data from the In­sur­ance Com­mis­sion (IC).

Ac­cord­ing to in­dus­try fig­ures re­leased by the In­sur­ance Com­mis­sion, Malayan In­sur­ance is ranked as the num­ber one non-life in­surer in terms of Gross Pre­mi­ums Writ­ten (GPW) and As­sets.

The rank­ings are based on the an­nual re­ports and fi­nan­cial state­ments sub­mit­ted by non-life and gen­eral in­sur­ance com­pa­nies op­er­at­ing in the Philip­pines.

In 2017, Malayan In­sur­ance pro­duced GPW amount­ing to P9.60 bil­lion, 6% higher than in 2016. With a sig­nif­i­cant lead over the next in­surer, Malayan In­sur­ance has been the dom­i­nant non­life in­surer of Philip­pine busi­nesses and fam­i­lies for 48 years.

The com­pany also regis­tered a to­tal of P38.81 bil­lion in as­sets in 2017. This marks a yearon-year gain of P19.76 bil­lion or 103.73% com­pared to P19.05 bil­lion in 2016.

Malayan In­sur­ance has been in­tro­duc­ing new prod­ucts and ser­vices into the Philip­pine non­life in­sur­ance mar­ket, with the launch this year of its Trav­elite bud­get travel in­sur­ance, and Mo­tomax mo­tor­cy­cle in­sur­ance, an af­ford­able to­tal loss only cover for the grow­ing mo­tor­cy­cle mar­ket.

Malayan In­sur­ance is the only Philip­pine non­life in­sur­ance com­pany rated by AM Best, a global rat­ing au­thor­ity for the in­sur­ance in­dus­try. The com­pany re­tained its ti­tle of Most Sta­ble Non-life In­surer in 2018 from AM Best. It af­firmed the rat­ing of Malayan In­sur­ance with Fi­nan­cial Strength Rat­ing: B++ (Good), In­surer Credit Rat­ing bbb+, and Out­look for both – Sta­ble.

Founded in 1930, Malayan In­sur­ance is a mem­ber of the Yuchengco Group of Com­pa­nies (YGC). YGC is one of the largest con­glom­er­ates in the Philip­pines, with core busi­nesses in fi­nan­cial ser­vices, bank­ing, in­vest­ments, con­struc­tion, ed­u­ca­tion, en­ergy, and in­for­ma­tion tech­nol­ogy.

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