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Manila Bulletin devider Business devider Banking & Finance devider FPG Mercantile receives regulatory blessing to integrate

FPG Mercantile receives regulatory blessing to integrate

Published Jan 29, 2026 12:09 am  |  Updated Jan 29, 2026 06:47 am
The Philippine Competition Commission (PCC) has approved the merger between non-life insurance companies FPG Insurance Co. Inc. and The Mercantile Insurance Company Inc. after finding no competition risks.
In a statement, the PCC said it approved the proposed merger, which will result in Mercantile Insurance as the surviving company, to be renamed FPG Mercantile.
The merger, notified to the PCC on November 19 last year, was examined by the PCC's Mergers and Acquisitions Office (MAO) for potential competitive effects.
The MAO scrutinized the transaction’s potential impact on the nationwide and global provision of aviation, fire, marine, motor car, casualty, engineering, personal accident, and suretyship non-life insurance service.
Based on initial and supplementary information from merger parties and third-party interviews, the MAO determined that the merger poses no substantial lessening of competition in the relevant markets.
“The parties’ combined market shares remain low, preventing them from unilaterally influencing market conditions or engaging in foreclosure strategies,” the PCC said.
“Multiple competitors in the relevant markets provide sufficient competitive constraints on the merged entity,” it added.
The PCC said the clearance assures that the proposed merger maintains a competitive marketplace and does not harm consumer interests.
With the approval, the proposed merger between FPG Insurance and Mercantile Insurance is now allowed to proceed.
Both companies offer fire, motor, casualty, and marine coverage. Mercantile Insurance further provides health, accident, cargo, marine hull, comprehensive liability, and allied risks, while FPG Insurance extends its portfolio to medical, personal accident, engineering, surety, and bonds.
Under the Philippine Competition Act, the PCC reviews mergers and acquisitions to ensure they do not harm competition.
The commission’s review process protects consumer welfare and promotes fair business practices by preventing undue market concentration and maintaining a competitive environment across sectors.
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