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Manila Bulletin devider Business devider Malayan Insurance top non-life insurer in terms of gross premiums, assets

Malayan Insurance top non-life insurer in terms of gross premiums, assets

Published May 21, 2019 12:00 am
Malayan Insurance Company, Inc. has kept its position as a leader in the non-life insurance industry in the Philippines in terms of Gross Premiums Written (GPW) and Assets for Year 2018, according to unaudited industry figures released by the Insurance Commission (IC) recently. In 2018, Malayan Insurance produced Gross Premiums Written amounting to P10.16 billion. With a significant lead over the next insurer, Malayan Insurance has been the dominant non-life insurer of Philippine businesses and families for almost 50 years. Malayan Insurance has likewise led the industry in terms of assets, reporting P34.28 billion in total assets for year-end 2018, according to the Insurance Commission. This makes Malayan Insurance, the largest non-life insurer in the Philippines. Malayan Insurance has been introducing new products and services into the Philippine non-life insurance market, with the launch 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 non-life insurance company rated by AM Best, a global rating authority for the insurance industry. AM Best has affirmed the rating of Malayan Insurance with Financial Strength Rating: B++ (Good), and Insurer Credit Rating bbb+, providing the Philippine insuring public with world-class insurance protection. 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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