Top Brands in the Philippines Bancassurance Market – Compare & Get the Best Policies Now 2026
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Top Brands in the Philippines Bancassurance Market Overview
Philippines bancassurance market is expanding gradually as banks and insurance companies started working together to offer insurance products through banking channels. Bancassurance allows customers to purchase insurance policies directly from banks which makes the insurance more accessible, convenient, and trusted. In Philippines, this model is broadly used with strong banking penetration, rising financial awareness, and increasing demand for life, health, and savings-related insurance products. As financial inclusion started improving and digital banking expands, bancassurance is becoming an important distribution channel for insurers while helping banks to expand revenue streams.
Best Bancassurance Providers in the Philippines
Below are some of the top companies with main focus areas, and strengths:
Company
Best For
Strength
BDO Life
Life insurance via banking
Strong BDO branch network
Sun Life Grepa
Life and investment products
Trusted brand and product variety
Pru Life UK
Protection and savings plan
Customer-focused solutions
Manulife Philippines
Long-term life insurance
Strong financial expertise
AXA Philippines
Health and protection insurance
Digital-driven offerings
FWD Life Philippines
Simple insurance products
Innovative and easy-to-buy plans
Insular Life
Traditional life insurance
Long-standing local presence
Allianz PNB Life
Wealth and protection solutions
Strong bank–insurance partnership
AIA Philippines
Health and life insurance
Complete coverage options
Standard Insurance
Non-life bancassurance
Trusted general insurance products
Why Bancassurance Matters in the Philippines
Bancassurance has important role in the Philippines because this has made insurance products easier to access for a wider population. Many customers already trust banks for financial services, so offering insurance through banks increases customer confidence and adoption. Bancassurance is also helping to improve insurance penetration in the country, especially among middle-income groups. For banks, it provides an additional income source without heavy funds in infrastructure, while insurance companies are getting benefits from an established customer base and extensive branch networks. Overall, bancassurance supports financial protection, savings growth, and long-term financial planning in the Philippines.
List of Top 10 Companies in the Philippines Bancassurance Market
The competitive landscape of this industry is growing with the presence of below mentioned major brands:
BPI AIA Life Assurance Corp. (BPI & AIA)
BDO Life Insurance (BDO Unibank & Generali)
Pru Life UK (with various partner banks)
Sun Life Grepa Financial (with Sun Life)
Insular Life (with various banks)
Security Bank Corporation (partnering with Manulife)
UnionBank of the Philippines (partnering with various insurers)
Metrobank (partnering with various insurers)
China Banking Corporation (partnering with various insurers)
PNB (Philippine National Bank) (partnering with various insurers)
Most Common Bancassurance Products Used in the Philippines
Here are commonly offered bancassurance products and their usage:
Product Category
Ideal Usage
Life Insurance
Long-term financial protection
Health Insurance
Medical and hospitalization coverage
Savings-linked Insurance
Wealth creation and savings
Credit Life Insurance
Loan protection for borrowers
Term Insurance
Affordable short-term coverage
Unit-Linked Plans
Funds with insurance
Personal Accident Insurance
Coverage for accidents
Mortgage Insurance
Home loan protection
Travel Insurance
Coverage for domestic and international travel
Non-Life Insurance
Vehicle, property, and asset protection
An In-Depth Comparison of Bancassurance Products
Below is a comparison of different types of bancassurance based on coverage, complexity, and cost:
Features
Basic Bancassurance Products
Mid-Range Bancassurance Products
Advanced Bancassurance Products
Types of Products
Term & accident insurance
Life & health plans
Unit-linked & wealth plans
Customer Segment
First-time buyers
Salaried professionals
High-net-worth individuals
Coverage Level
Basic protection
Moderate coverage
Comprehensive coverage
Complexity
Simple
Moderate
High
Premium Cost
Low
Medium
High
Investment Element
No
Limited
Strong
Customization
Low
Medium
High
Ideal Users
Young adults
Families
Wealth-focused customers
Policy Duration
Short-term
Medium-term
Long-term
Risk Coverage
Basic
Balanced
Wide-ranging
Below is the list of ratings and performance of top companies: A comprehensive rating and performance breakdown
This market page is researched, structured, and maintained by
Viewgates Editorial & Research Team
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dedicated to simplifying market research through clear,
consumer-friendly company comparisons and insights.
Top Brands in the Philippines Bancassurance Market: FAQs 2026
BDO Life, Sun Life Grepa, Pru Life UK, Manulife Philippines, and AXA Philippines are some of the best companies.
Companies are facing challenges like regulatory compliance, limited customer awareness and product mis-selling risks.
Major scopes are increasing knowledge, expansion of digital banking, rising life and health insurance demand, and broader reach through bank networks.
Due to strong bank partnerships, wide branch networks, trusted brands, and customer-focused insurance solutions.