Paramount Life & General Insurance Corporation

What Paramount Life & General Insurance Corporation does

Paramount Life & General Insurance Corporation (PLGIC) is a privately held Philippine composite insurer headquartered in Makati City, operating continuously since its 1950 founding by Daniel Go. The company holds a dual life-and-general license granted by the Philippine Insurance Commission following the 2002 acquisition of AEGON Life Insurance Philippines, enabling it to underwrite life, non-life, and special lines products under a single regulated entity. With total assets exceeding Php 4 Billion and Net Worth over Php 1.4 Billion as of 2014, PLGIC operates one of the most extensive distribution networks in the Philippine insurance industry — over 30 branches nationwide spanning Metro Manila, Luzon, Visayas, and Mindanao — augmented by the proprietary LifePlanning Partners advisory channel, traditional agents, and the Paramount Direct online self-serve platform.

The product portfolio covers individual life plans (Prime Life, Prime Term, Secure Essential, Critical Illness Plan, Universal Life variants, Prime Opportunity, Gold Star education endowment), group life plans (Group Credit Life, Group Mortgage Redemption, Teachers/Barangay/Student plans), non-life lines (Motor, CTPL Plus, Fire and Allied Perils, Marine Cargo, Engineering, Travel Protector Plus, Comprehensive General Liability, Fidelity Guarantee), and special lines including OFW Compulsory and Voluntary Insurance, Global Travel Protect, the ER Card prepaid emergency card (accepted at 300+ MedAsia hospitals), and the 2025 QBE SMART Protect automotive cosmetic-damage product.

Revenue mechanics are anchored in recurring premium streams across subscription-based individual, group, and commercial policies, distributed through bancassurance partners (BDO, Metrobank, BPI, Unionbank, Landbank), digital wallets (GCash, ShopeePay), and direct agent/branch channels. Customers span mass-market Filipino consumers (primary), Overseas Filipino Workers (where PLGIC is the recognized leading provider), employers and affinity groups, SMEs and commercial property owners, and automotive dealerships. Ownership remains family-controlled (Go family — Patrick L. Go as Chairman & CEO, with Lauren L., Hilary L., and Ian L. Go as directors) alongside historic strategic investors (Lucky Tableware Group, ANJ Group of the Tahija Family).

Name

Paramount Life & General Insurance Corporation

Legal name

Paramount Life & General Insurance Corporation

Website

https://paramount.com.ph

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

251–500 employees

Short description

Paramount Life & General Insurance Corporation (PLGIC) is a Philippine composite insurer offering life, non-life, and special lines products across 30-plus branches, serving mass-market Filipino consumers, Overseas Filipino Workers, and businesses via dedicated agents and online channels.

Ownership category

akta.pro rank

Product category

Life and Non-Life Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Property and Casualty Insurance Carriers (524126), Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311), Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Basic Group Term Life (Employer-Paid) (FSAIADAA), Commercial Auto & Fleet Insurance (FSAJAMAB)

Keywords

• Life insurance products
• Non-life insurance
• OFW insurance coverage
• Group insurance plans
• Personal accident insurance

Headquarters

HQ city

Makati

HQ country

Philippines

HQ region

Asia

Offices16 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Recurring premium payments from individual and group life insurance policies including term life, whole life, endowment, universal life, and retirement plans.
2. Non-Life Insurance Premiums: Premium income from motor insurance, fire insurance, travel insurance, personal accident, casualty, engineering, and marine cargo insurance policies.
3. Special Lines Insurance: Premiums from travel insurance, ER Cards, health protection plans, and OFW compulsory and voluntary insurance products.
4. Automotive Protection Products: Revenue from QBE SMART Protect product partnership offering coverage for minor cosmetic damages like dings, dents, and scratches for car dealerships and manufacturers.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Paramount Life & General Insurance Corporation provides a full line of life and non-life insurance products and product packages to individuals, families, groups, and businesses across the Philippines. Its portfolio spans individual life protection (term, whole life, universal life, endowment, retirement), group life insurance (group credit life, mortgage redemption, association plans, employee/teacher/student/security guard coverage), non-life products (motor, CTPL, fire and allied perils, travel, personal accident, comprehensive general liability, marine cargo, engineering, fidelity guarantee, business and homeowner packages), and special lines (Global Travel Protect, ER Card, Health Protector, OFW Compulsory Insurance, OFW Protect Plus, SMART Protect). The company markets these products as "Bayad Agad" and operates over 30 branches supported by LifePlanning Partners, agents, bancassurance partners, and the Paramount Direct online platform.

Product overview

Paramount Life & General Insurance Corporation (PLGIC) offers a comprehensive insurance portfolio spanning life insurance, non-life insurance, and special lines products through multiple distribution channels. The life insurance portfolio includes individual protection plans (Prime Life, Prime Term, Secure Essential, Critical Illness Plan), retirement plans (Prime Opportunity, Prime Life @ 65), universal life plans (Universal Life, Universal Life Premier, Universal Life Gold), comprehensive plans (Ready Solution Plus, Value Shield), endowment plans (Active Advantage, Gold Star), and group insurance products (Group Credit Life, Group Mortgage Redemption, Group Association Insurance Plan, Paramount Group Package, Security Guard Protection Plan, Student Yearly Renewable Term, Teachers Group Insurance Plan, Barangay Association Plan). Non-life insurance includes motor vehicle coverage (Motor Insurance, CTPL Plus), property coverage (Fire and Allied Perils, Homecare Insurance), casualty insurance (Comprehensive General Liability, Money/Securities/Payroll Robbery, Property Floater, Fidelity Guarantee), engineering and marine coverage (Engineering Insurance, Marine Cargo Insurance), travel insurance (Travel Protector Plus), personal accident coverage (Personal Accident Insurance, Student Personal Accident, Group Personal Accident), and packaged business/homeowner products (Business Owners' Insurance Package, Family Protector Insurance Plan, Keyman Protector Insurance Plan, Especially For You). Special lines products include Global Travel Protect, ER Card, Health Protector, OFW Compulsory Insurance, and OFW Protect Plus. The company distributes through traditional branches nationwide, LifePlanning Partners agents using a needs-based financial analysis approach, and online channels including Paramount Direct.

Differentiator

Problem solved

Functional benefit

Products and services

• Prime Life An affordable, whole life participating plan that provides lifelong protection with participating benefits for individual policyholders seeking permanent life coverage.
• Prime Term A term life insurance plan renewable every 5 years with the freedom to upgrade at any time, designed for individuals seeking flexible term protection.
• Secure Essential An annually renewable term life insurance plan providing year-long coverage that is convertible to a permanent plan for individual policyholders.
• Critical Illness Plan A life insurance plan providing a lump sum benefit upon diagnosis of one of seven major critical illnesses, for individuals seeking coverage against specified serious health conditions.
• Prime Opportunity A participating endowment retirement life insurance plan with two payment plan options and guaranteed cash benefits for retirement savers.
• Prime Life @ 65 A retirement-focused whole life participating plan that provides a cash benefit at age 65 for individuals building retirement security.
• Universal Life A non-traditional, unbundled whole life insurance plan with flexible payment options including the freedom to add or withdraw funds.
• Universal Life Premier A combination savings and life insurance plan with two convenient payment plan options and accelerated coverage growth for individual policyholders.
• Universal Life Gold An investment-life insurance hybrid with basic life coverage, two payment plan options, and yearly cash allowances for individual policyholders.
• Ready Solution Plus A comprehensive plan providing protection and living benefits in the form of endowments for individual policyholders.
• Value Shield A comprehensive plan covering hospital or family living expenses in case of untimely death or hospitalization for individual policyholders.
• Active Advantage A participating endowment plan providing 20-year life insurance coverage with guaranteed, scheduled cash benefits for individual policyholders.
• Gold Star A participating endowment education plan providing cash benefits and a guaranteed graduation gift for parents saving for children's education.
• Group Credit Life A group life insurance plan covering borrowers of financial institutions providing short-term loans for institutional clients such as banks and lending companies.
• Group Mortgage Redemption A group life insurance plan designed to cover mortgage debts from banks or financial institutions, for lender and borrower protection.
• Group Association Insurance Plan A yearly renewable group term life insurance for affinity groups or associations.
• Paramount Group Package A yearly renewable group term life insurance designed for employees, offered to corporate clients as part of employee benefits.
• Security Guard Protection Plan A yearly renewable group term life insurance designed for security and manpower agencies.
• Student Yearly Renewable Term A yearly renewable group term life insurance created for students of an educational institution.
• Teachers Group Insurance Plan A yearly renewable group term life insurance for the faculty and staff of an educational institution.
• Barangay Association Plan An affordable yearly renewable group term life insurance plan for Barangay officials.
• Motor Insurance Insures motor vehicles against loss or damage for individual vehicle owners and commercial fleet operators.
• CTPL Plus A specialized Compulsory Third Party Liability product allowing policyholders to protect their vehicle by choosing coverage they can afford.
• Fire and Allied Perils Insures property against losses caused by fire, lightning, and other natural disasters for residential and commercial property owners.
• Travel Protector Plus A personal accident insurance for both domestic and international travel.
• Student Personal Accident A group personal accident insurance for students of an educational institution.
• Group Personal Accident A group personal accident insurance for employees of businesses, offered to corporate clients.
• Personal Accident Insurance Personal accident insurance covering medical expenses, disablement, loss of hearing, and more for individual policyholders.
• Comprehensive General Liability Insurance Liability insurance for businesses or companies that protects against third party legal obligation.
• Money, Securities & Payroll Robbery Insures businesses against robberies, hold-ups, and burglaries of money, securities, and payroll.
• Property Floater Covers businesses for physical loss or damage to their mobile equipment.
• Fidelity Guarantee Insures businesses against financial loss due to dishonesty and fraudulent acts of their employees.
• Marine Cargo Insurance Provides protection for marine cargo during transit for businesses engaged in shipping and trade.
• Engineering Insurance A wide range of coverage against loss or damage to engineering works and equipment for construction and engineering projects.
• Business Owners' Insurance Package A packaged insurance created to protect the assets of a business for SMEs and commercial clients.
• Homecare Insurance A packaged insurance covering residential buildings and their contents for homeowners.
• Family Protector Insurance Plan A group personal accident insurance covering family members, suitable for family protection needs.
• Keyman Protector Insurance Plan A packaged insurance designed for the primary provider of a family, protecting against loss of income due to death or disability of the breadwinner.
• Especially For You A personal accident insurance with Php10,000 of coverage packaged in a greeting card format suitable for gifting to friends and family.
• Global Travel Protect A comprehensive, cashless travel insurance package for international travel including a 24/7 hotline for medical and travel assistance, providing coverage for Asian, Schengen, and Worldwide travel.
• ER Card A one-time-use prepaid card for emergency medical expenses accepted at over 150 (network extends to over 300 MedAsia-accredited) hospitals, providing up to Php5,000 emergency room coverage and Php10,000 in accidental death benefit; ER Card 400 and ER Card 700 tiers available.
• Health Protector A plan for employees of small to medium-sized business enterprises including in-patient and dental benefits for SME group clients.
• OFW Compulsory Insurance Paramount's compulsory insurance coverage for agency-hired Overseas Filipino Workers (OFWs) ensuring protection beyond what is required by law.
• OFW Protect Plus A comprehensive voluntary insurance plan for Overseas Filipino Workers conforming with Republic Act (RA) 10022, enhanced by a Bereavement Assistance Benefit.
• SMART Protect Small and Medium Repair Technology (SMART) Protect product offering car dealerships and manufacturers coverage for minor cosmetic damages including dings, dents, and scratches on vehicles.

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Partnerships

Nine partnerships are on record, tiered major, minor and core.

• QBE InsurancemajorChannel Partner/ Reseller/ Distributor · 3 August 2025QBE Automotive Protection launched its SMART (Small and Medium Repair Technology) Protect product in the Philippines through Paramount Life & General Insurance Corporation. The partnership targets the growing Philippine automotive market, offering car dealerships and manufacturers coverage for minor cosmetic damages like dings, dents, and scratches. The product is suited to Filipino car owners who typically hold onto vehicles for extended periods (often more than five years).
• Stiftung Solarenergie NetworkminorStrategic or Co-development Partner · 1 January 2019Project Shine partnership in which volunteers installed solar panel kits benefiting 48 homes in Sitio Tabunan and Sitio Sapaw in Sarangani Province. The program focused on providing solar-powered lights to off-grid communities.
• QBE Seaboard Insurance PhilippinesmajorStrategic or Co-development Partner · 1 January 2018Paramount acquired QBE Seaboard Insurance Philippines, Inc., solidifying its position in the general insurance industry with the addition of QBE Seaboard's commercial lines portfolio. This acquisition extended the company's customer reach and strengthened its segment and product offerings.
• Sony Life Insurance PhilippinesmajorStrategic or Co-development Partner · 1 January 2012Paramount acquired Sony Life Insurance Philippines' life insurance portfolio in 2012, extending PLGIC's ability to service the entire market spectrum of the insuring public through Sony Life's unique, needs-based Life Planning sales channel.
• Manila Bankers Life Insurance CorporationmajorStrategic or Co-development Partner · 1 January 2005Paramount acquired Manila Bankers Life Insurance Corporation's Individual Life Insurance Portfolio in 2005, expanding its life insurance business.
• AEGON Life Insurance PhilippinescoreStrategic or Co-development Partner · 1 January 2002Paramount acquired Netherlands-based AEGON Life N.V.'s Philippine subsidiary, AEGON Life Insurance Philippines. This acquisition granted Paramount a composite license from the Insurance Commission for life and general insurance, leading to the company's renaming to PLGIC with increased Paid-up Capital to PhP150M.
• Union Insurance Society of Canton, Ltd. (from AXA France)majorStrategic or Co-development Partner · 1 January 2001Paramount acquired the Philippine operations of the Union Insurance Society of Canton, Ltd. from AXA of France in 2001, further strengthening its position in the Philippine general insurance industry. This led to the formation of Paramount Union Insurance Corporation.
• LocktoncoreStrategic or Co-development PartnerParamount launched a Microinsurance Program with Lockton, a global insurance broker. This partnership enhances Paramount's microinsurance offerings for the Filipino market.
• MedAsia (MedAsia Philippines)coreTechnology or IntegrationParamount partners with MedAsia Philippines for ER Card hospital network services. ER Cards are accepted at over 300 MedAsia accredited hospitals nationwide, providing emergency room coverage through a 24/7 hotline system.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• FWD Life Philippines: Pacific-backed digital-first life insurer expanding aggressively in the Philippines with innovative distribution (e.g., e-loading channels) and simplified products. Represents the insurtech-like competitive threat to Paramount's traditional life distribution.

Direct peers

• Charter Ping An Insurance Corporation: Major Filipino non-life insurer providing motor, fire, marine, casualty, and personal accident coverage. Comparable general-insurance portfolio, distribution model, and reliance on the Philippine commercial market.
• Pru Life Insurance Corporation of U.K. One of the largest Philippine life insurers with a leading digital (Pru Life UK) and agency model, offering life, health, and investment-linked plans. Competes head-to-head for individual life and savings customers in the same Philippines market.
• Manulife Philippines: Operates life and health insurance through agency, bancassurance, and group channels in the Philippines. Similar composite product set (life, group, accident) and a comparable focus on needs-based financial advisory distribution.
• Insular Life Assurance Company: Filipino-owned composite insurer offering life, non-life, and health products through agency and branch networks. Closely analogous to Paramount as a locally controlled, full-line Philippine insurer with multi-product and multi-channel distribution.
• BPI-Philam Life Assurance Corporation: Joint venture between Ayala's BPI and AIA, distributing life and health products primarily through BPI's bank channel. Comparable life-insurance product set with bancassurance-led distribution, similar mid-market Filipino customer base.
• Cocolife (Cooperative Life Insurance System): Filipino-owned mutual-style life and pre-need insurer distributing through cooperatives and mass-market channels. Comparable in targeting the same Filipino mass-market and affinity group segments Paramount serves with its group life and OFW products.
• AXA Philippines: AXA's Philippine life and general insurance arm offering life, health, motor, and property products through agency and bancassurance. Comparable as a composite insurer with strong distribution and brand recognition in the same Filipino market segments.
• Sun Life of Canada (Philippines): One of the largest life insurers in the Philippines, offering individual and group life and health products through bancassurance, agency, and digital channels. Directly comparable as a major Philippines life insurance carrier competing for similar mass-market and OFW-adjacent customers.
• Malayan Insurance Company: One of the largest non-life insurers in the Philippines offering motor, fire, marine, and engineering lines through agency and broker channels. Directly comparable on the P&C side where Paramount operates through QBE Seaboard and its branch network.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/plgic

Revenue estimate

Valuation estimate

Number of profiles

Profiles32 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paramount Life & General Insurance Corporation