Malayan Insurance Company, Inc. has secured its position as a leader in the nonlife insurance industry in the Philippines in terms of gross premiums written (GPW) and assets for 2018, according to unaudited industry figures recently released by the Insurance Commission (IC).
In 2018, Malayan Insurance produced GPW amounting to 10.16 billion pesos. With a significant lead over the next insurer, Malayan Insurance has been the dominant nonlife insurer for Philippine businesses and families for almost 50 years.
Malayan Insurance has likewise led the industry in terms of assets, reporting 34.28 billion pesos in total assets for year-end 2018, according to the IC. This makes Malayan Insurance the largest nonlife insurer in the Philippines.
Malayan Insurance has been introducing new products and services into the Philippine non-life insurance market, with the launch of its Travelite budget travel insurance and Motomax motorcycle insurance, an affordable total loss only cover for the growing motorcycle market.
Malayan Insurance is the only Philippine nonlife insurance company rated by AM Best, a global rating authority for the insurance industry. AM Best has affirmed the rating of Malayan Insurance with Financial Strength Rating: B++ (Good), and Insurer Credit Rating bbb+, providing the Philippine insuring public with world-class insurance protection.
Founded in 1930, Malayan Insurance is a member of the Yuchengco Group of Companies (YGC), and has been the Philippine partner of JapanÅfs Tokio Marine and Nichido Fire Insurance since 1964.