Our Beginnings & Milestones
Insular Life was established on November 25, 1910 at a time when the Philippines was flexing its wings as a fledgling nation at the dawn of the 20th century. Today, as the Philippines’ leading and largest Filipino life insurance company, we take pride in our role in securing the lives of Filipino families for over 100 years. Our roster of products – from ordinary whole life, endowment, and limited-payment plans, to pension, college education, group, and investment-linked plans – are attuned to the changing needs of individuals as they move through life’s different stages, providing them with the means to successfully plan for and achieve their family’s financial security.
Insular Life is anchored on our fundamental corporate values: Love of God and Country; Integrity; Excellence; Prudence; Respect for the Individual; and Teamwork. Through years of growth and of struggle, these values have remained constant, guiding generations of Insular Life officers and employees in serving thousands of our policyholders, and other stakeholders.
We have a long tradition of steadfast commitment to our policyholders. Insular Life demonstrated this trait most vividly in 2013, in the aftermath of the devastation wreaked by Super Typhoon Yolanda in the Visayas – the strongest typhoon to make landfall in recorded history. We were the first life insurance company to resume operations in Tacloban, which inarguably took the worst hit in the country. Indeed, our legacy of putting our policyholders’ welfare first is deep-seated, as exemplified during World War II when Insular Life honored pre-war and Japanese occupation commitments regardless of its toll on the Company’s reserves.
As one of the pioneering life insurance companies in the Philippines, Insular Life is credited for introducing a number of groundbreaking moves in the industry. In 1953, we introduced the first school of insurance in the Philippines. The following year, we lowered our premiums -- the first insurance company to do so. In 1958, Insular Life introduced what would soon be a hugely successful business line: industrial life insurance which was intended for lower-income earning Filipinos. Insular Life’s most significant step, however, was our mutualization, completed in 1987, which effectively made Insular Life’s policyholders part owners of the Company.
Insular Life Today
Insular Life today is the only Filipino life insurance company among the industry’s leaders. We continue to deliver a solid performance, posting Php2.9 billion in consolidated net income by end of 2014. A cornerstone of Insular Life’s financial stability is our strong asset base which has consistently increased through the years, reaching Php101.3 billion (consolidated figure) in 2014. Our business-in-force by end-2014 stood at P235.4 billion, reflecting a growing number of policyholders.
We continue to deliver a solid performance, posting Php2.9 billion in consolidated net income by end of 2014. Our total business-in-force by end-2014 stood at P235.4 billion , reflecting a growing number of policyholders.
We transferred our headquarters at the Insular Life Corporate Centre in Filinvest, Alabang in 2001 in a symbolic step towards the fast-paced and I.T. based 21st century. Here, fully in step with the demands of the modern world but rooted in its unique heritage, we continue to design innovative and responsive products and services for Filipino families to help them realize their dreams.
Subsidiaries and Affiliates
Beyond life insurance, we have diversified into related financial services through our subsidiaries and affiliate: Insular Health Care, Inc., Insular Investment Corporation (IIC), HomeCredit Mutual Building and Loan Association, Inc. (HomeCredit), and affiliate Mapfre Insular Insurance Corporation.
We practice responsible corporate citizenship through the Insular Foundation, Inc. Formerly known as the Insular Life Educational Foundation (ILEF), Inc., Insular Foundation is focused on education and on nation-building. Our current programs are: the Insular Gold Eagle Award which includes the Insular Scholarship Grant under the University of the Philippines, Diliman, and selected State Universities in the provinces; Gawad Kalinga Volunteerism Program at the GK Manggahan-Kawayanan, Parañaque; Adopt-a-Scholar Program with the Itaas Elementary School, Muntinlupa.
Insular Life has also been supporting the Filfest Foundation through venue grants at our Tanghalang Haribon which showcases exceptional artistic talents of Filipinos in music.