THE Insurance Commission recently released the latest non-life insurance industry ranking for 2018 with Prudential Guarantee emerging as the top non-life insurance company in the Philippines in terms of net premiums written in 2018.
The data collected from the unaudited quarterly statement submitted by non-life insurance firms showed that Coyiuto-owned Prudential Guarantee has continued to be the market leader, closing its net premiums written at P5.18 billion last year.
Prudential Guarantee also ranked No. 1 in 2017, with P4.97 billion in net premiums written that year.
Charter Ping An Insurance Corp. ranked second in 2018 with net premiums written amounting to P3.9 billion, while Malayan Insurance placed third with P3.77 billion.
Pioneer Insurance Corp. ranked fourth with P3.09 billion in net written premium, overtaking BPI/MS Insurance Corp. with only P3.04 billion which ranked fifth.
Net premiums written is the gross premiums written less reinsurance cessation, representing how much of the premiums the company gets for assuming risk. (PR)