Insular Life

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The Insular Life Assurance Company, Ltd.
Type Mutual, limited liability life insurance company[1]
Founded November 25, 1910[2]
Headquarters Insular Life Corporate Centre, Muntinlupa City, Philippines
Area served Philippines
Key people Vicente R. Ayllon (Chairman of the Board of Trustees and Chief Executive Officer)
Mayo Jose B. Ongsingco (President and Chief Operating Officer)
Products Life insurance
Revenue IncreasePH₱ 15.5 billion (2011, Group)[3]
Net income IncreasePH₱ 2.9 billion (2011)
Total assets IncreasePH₱ 80.5 billion (2011)
Total equity IncreasePH₱ 20.7 billion (2011)
Employees 725 (2011)[4]
Website www.insularlife.com.ph

The Insular Life Assurance Company, Ltd. (commonly known by its trade name, Insular Life) is a mutual life insurance company in the Philippines. Established on November 25, 1910 in Manila, it is the first Filipino life insurance company.[2][5] The company offers individual and group life, health, and retirement insurance plans. It provides allied financial services such as general insurance, banking, healthcare, lending and investment through subsidiaries and affiliate companies in its eponymous corporate group.[1][6] Insular Life itself was once a member of the Ayala Corporation until 1987, when it became a fully mutual company.[7] Its current Chairman of the Board and Chief Executive Officer is Vicente R. Ayllon.[3] As of 2011, it is the fifth largest life insurer in the Philippines in terms of premium income.[8]

It is currently headquartered at the Insular Life Corporate Center in Filinvest Corporate City, Alabang, Muntinlupa City. Previously, it held its corporate offices at the Insular Life Building in Makati City. That building was built in 1962 and was the first to surpass the 30 meter height restriction in the Philippines.[9] Originally designed by Cesar Concio, the building was controversially redeveloped in 2005 with a design by the Japanese firm, Takenobu Mohri Architects and Associates.[10][11] It also maintains a corporate building at the Cebu Business Park.

Corporate Group

The Insular Life Corporate Centre in Muntinlupa City

The members of the Insular Group of Companies as of 2011 are:[4]
Holding Company

  • The Insular Life Assurance Company, Ltd. (Life Insurance underwriting)

Subsidiaries

  • Insular Investment and Trust Corporation (Investment banking)
    • Insular Property Ventures (Residential/Commercial development)
    • IITC Properties (Residential/Commercial development)
  • Insular Health Care (Health/HMO)
  • ILAC General Insurance Agency (General agency)
  • Insular Life Property Holdings (Real Estate)
  • Insular Life Management and Development Corporation (Management services)
  • HomeCredit Mutual Building and Loan Association

Affiliates

Social Commitment

  • Insular Foundation

References

  1. ↑ 1.0 1.1 "Company Profile". Euromoney EMIS. Retrieved 1 June 2012. 
  2. ↑ 2.0 2.1 Totanes, Henry (1998). Dalisay, Jose Y. Jr., ed. Kasaysayan : the story of the Filipino people. A timeline of Philippine history. Pleasantville, New York: Reader's Digest. ISBN 9622582338. 
  3. ↑ 3.0 3.1 "Insular Life income up 12%". Philippine Daily Inquirer. 24 May 2012. Retrieved 1 June 2012. 
  4. ↑ 4.0 4.1 Annual Report 2011. Insular Life Assurance Company, Ltd. Retrieved 31 May 2012. Full Text available here.
  5. ↑ "Ayala Corporation celebrates its 175th anniversary". Manila Bulletin. 10 March 2009. Retrieved 1 June 2012. 
  6. ↑ "Ownership Structure". Union Bank of the Philippines. Retrieved 31 May 2012. 
  7. ↑ Ledesma, RJ (25 November 2009). "Always a first". Philippine Star. Retrieved 31 May 2012. 
  8. ↑ Jiao, Diane Clair (25 June 2012). "Top insurers listed by regulator". Business World. Retrieved 7 July 2012. 
  9. ↑ Lico, Gerald. "A Brief history of Philippine architecture". Arkitektura Philippines Facebook Page. Retrieved 23 March 2013. 
  10. ↑ Alcazaren, Paulo (30 November 2002). "Makati Memories". Philippine Star / Newsflash. Retrieved 23 March 2013. 
  11. ↑ Mohri Architects and Associates. "Projects". Retrieved 23 March 2013. 
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