Insular Life

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 was once a member of the Ayala Corporation until 1987, when it became a mutual company owned by its policyholders.[7][8] Its Executive Chairman of the Board is Nina D. Aguas and its Chief Executive Officer is Mona Lisa B. dela Cruz.[9] As of 2017, it is the seventh largest life insurer in the Philippines in terms of premium income.[10]

Insular Life
Mutual, limited liability[1]
IndustryLife insurance
FoundedManila, Philippine Islands (November 25, 1910 (1910-11-25))[2]
HeadquartersInsular Life Corporate Centre,
Muntinlupa
,
Philippines
Area served
Philippines
Key people
Nina Aguas
(Chairman)
Mona Lisa Dela Cruz
(President and CEO)
RevenuePH₱ 19.93 billion (2015, Group)[3]
PH₱ 1.7 billion (2015)
Total assetsPH₱ 106.15 billion (2015)
Total equityPH₱ 23.7 billion (2015)
Number of employees
792 (2015)[4]
Websitewww.insularlife.com.ph

Office Buildings

Muntinlupa City

It is currently headquartered at the Insular Life Corporate Centre (ILCC) building in Filinvest City, Alabang, Muntinlupa City. Designed by the Japanese firm, Takenobu Mohri Architects and Associates, the ILCC was inaugurated in 2001. The building is a two-tower structure connected by a podium, which houses a 500-seat auditorium.

Makati City

Previously, it held its main 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.[11] It had a gently curving façade entirely covered by narrow vertical aluminium projections that were set close together within square modules to conceal the curtain wall behind it.[12] Originally designed by Cesar Concio, the building was controversially redeveloped in 2005 with a design by Takenobu Mohri Architects and Associates, and again in 2015 by Casas Architects.[13][14]

Cebu City

It also maintains a corporate building at the Cebu Business Park designed by Jose Mañosa.

Corporate Group
The Insular Life Corporate Centre in Muntinlupa City
Historical Marker in the corporate headquarters.

The members of the Insular Group of Companies as of 2015 are:[4]
Holding Company

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

Subsidiaries

  • Insular Investment Corporation (Investment banking)
    • Insular Property Ventures (Residential/Commercial development)
    • IIC Properties (Residential/Commercial development)
  • Insular Health Care, Inc. (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

Former Subsidiaries and Affiliates

References
  1. "Company Profile". Euromoney EMIS. Retrieved 1 June 2012.
  2. 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. "Insular Life's profit falls to P1.77B in 2015 due to market volatility". Manila Bulletin. 25 May 2016. Retrieved 3 August 2016.
  4. Annual Report 2015. Insular Life Assurance Company, Ltd. Retrieved 3 August 2016. 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. Flores, Mikhail Franz. "Insular Life declared exempt from DST". BusinessWorld.com. Retrieved 17 March 2016.
  8. Ledesma, RJ (25 November 2009). "Always a first". Philippine Star. Retrieved 31 May 2012.
  9. "Insular Life names new top-level execs". BusinessMirror. 24 January 2018. Retrieved 2 February 2018.
  10. Insurance Commission. "Ranking of Life Insurance Companies Based on Premium Income" (PDF). insurance.gov.ph. Archived from the original (PDF) on 17 August 2016. Retrieved 3 August 2016.
  11. Lico, Gerald. "A Brief history of Philippine architecture". Arkitektura Philippines Facebook Page. Retrieved 23 March 2013.
  12. Lico, Gerard (2008). Arkitekturang Filipino: A History of Architecture and Urbanism in the Philippines. Quezon City: The University of the Philippines Press. p. 432. ISBN 978-971-542-579-7.
  13. Alcazaren, Paulo (30 November 2002). "Makati Memories". Philippine Star / Newsflash. Retrieved 23 March 2013.
  14. Mohri Architects and Associates. "Projects". Retrieved 23 March 2013.
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