Asia Insurance

What Asia Insurance does

Asia Insurance (Philippines) Corporation is a privately held, non-life (property and casualty) insurance company headquartered in Binondo, Manila. Founded in 1946 as Traders Insurance & Surety Company, the firm was acquired in 1998 by the Asian Insurance International Group — a consortium comprising leading regional insurers Asia Insurance Co., Ltd. (Hong Kong, S&P Strong A), Bangkok Insurance PCL (Thailand, S&P A-), and PT Asuransi Central Asia (Indonesia) — and was renamed Asia Insurance (Philippines) Corporation on June 23, 2004. The company underwrites six core product lines: Casualty Insurance, Fire Insurance, Motor Car Insurance, Surety Bond Insurance, Marine Insurance, and Engineering Lines Insurance. It serves individual property owners, corporate and commercial accounts, financial institutions (banks, leasing companies, auto-finance providers such as Toyota Financial Services Philippines), and government contractors requiring surety bonds. Distribution combines three direct sales offices (Manila, Makati, Angeles City), a licensed agent and broker network, and a bank-assurance channel of 26 partner banks including BDO, BPI, Metrobank, RCBC, Security Bank, and UnionBank. The operating model is a traditional sales-led, agent-and-broker-driven insurance platform with underwriting, claims, and reinsurance support routed through the parent group's regional infrastructure. Headcount is 11–50 employees and revenue is not publicly disclosed. Pricing is risk-based, billed annually, and determined through standard underwriting evaluation rather than published rate cards. The company is regulated by the Insurance Commission of the Philippines and complies with the Data Privacy Act of 2012 and the Anti-Money Laundering Act of 2001.

Name

Asia Insurance

Legal name

ASIA INSURANCE (PHILIPPINES) CORPORATION

Website

https://asiains.com.ph

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

11–50 employees

Short description

Asia Insurance (Philippines) Corporation is a privately held Manila-based non-life insurer underwriting fire, motor, marine, surety, casualty, and engineering lines for individuals, corporations, financial institutions, and government contractors via three branch offices and a 26-bank distribution network.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Other Direct Insurance (except Life, Health, and Medical) Carriers (524128)

SIC

Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351)

akta.pro primary industry

Public Liability (Premises/Operations) (FSAJADAD)

akta.pro secondary industries

Commercial Property Insurance (FSAJACAE), Fleet & Commercial Auto Liability (FSAJABAA), Travel & Accident (Non-Life) Insurance (FSAJAMAN), Commercial Auto & Fleet Liability Insurance (Primary) (TLABANAA)

Keywords

• Non-life insurance
• Property insurance
• Motor vehicle insurance
• Marine cargo insurance
• Surety bond insurance

Headquarters

HQ city

Binondo

HQ country

Philippines

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Non-Life Insurance Premiums: Collection of insurance premiums from policyholders in exchange for coverage against specified risks including property damage, vehicle incidents, marine cargo losses, surety bonds, engineering risks, liability claims, and accident/health coverage.
2. Insurance Processing Services: Fees collected for processing insurance applications, claims settlement, underwriting services, and reinsurance support through accredited brokers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Asia Insurance (Philippines) Corporation sells non-life insurance products in the Philippines as part of the Asian Insurance International Group. Its portfolio covers Casualty Insurance (vehicle, liability, theft, workers' compensation), Fire Insurance (property damage), Motor Car Insurance, Surety Bond Insurance (three-party performance guarantees), Marine Insurance (cargo and vessel coverage), and Engineering Lines Insurance (machinery, plant, and equipment risks). Products are distributed to individuals, corporations, financial institutions, and government contractors through three Philippine offices, licensed agents/brokers, and partner banks.

Product overview

Asia Insurance (Philippines) Corporation offers a portfolio of non-life insurance products as a member of the Asian Insurance International Group. The company's product portfolio consists of six core insurance products: Casualty Insurance (covering vehicle, liability, theft, and workers' compensation), Fire Insurance (property coverage for fire damage), Motor Car Insurance (vehicle protection), Surety Bond Insurance (three-party performance guarantees), Marine Insurance (cargo and vessel coverage), and Engineering Lines Insurance (machinery and equipment risks). These products serve individual and corporate clients, addressing coverage needs for Property, Motor Vehicle, Marine Cargo, Surety, Engineering, Liability, Accident and Health, among other insurance requirements.

Differentiator

Problem solved

Functional benefit

Products and services

• Casualty Insurance Broad non-life insurance coverage for individuals, employers, and businesses against loss of property, damage, or other liabilities, including vehicle insurance, liability insurance, theft insurance, workers' compensation, and surety bonds.
• Fire Insurance Property insurance covering damage and losses caused by fire, providing additional coverage beyond standard homeowners policies for replacement, repair, or reconstruction costs of insured property.
• Motor Car Insurance Insurance for cars, trucks, motorcycles, and road vehicles providing financial protection against physical damage, bodily injury from traffic collisions, theft, and damage from non-collision events.
• Surety Bond Insurance Three-party insurance contract guaranteeing the performance of the principal to an obligee, typically government agencies, with the surety providing a line of credit in case of non-fulfillment.
• Marine Insurance Insurance covering cargo losses or damage caused to ships, cargo vessels, terminals, and transport during which goods are transferred between points of origin and final destination.
• Engineering Lines Insurance Comprehensive insurance covering engineering-related risks including erection, resting and working of machinery, plant or equipment, with coverage for explosion risks and electrical breakdown.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and major.

• Asia Insurance Co., Ltd (Hong Kong)coreStrategic or Co-development PartnerLeading general insurer registered in Hong Kong. Majority stockholder and part of Asian Insurance International Group. Financial strength recognized by Standard & Poor's Strong 'A' rating. Serves Hong Kong, Macau, Taiwan, and China markets.
• Bangkok Insurance Public Company Limited (Thailand)coreStrategic or Co-development PartnerLargest non-life insurance company in Thailand with A- rating from Standard & Poor's. Annual premium income exceeds Baht 8 billion (PhP 11 billion). Part of Asian Insurance International Group.
• PT Asuransi Central Asia (Indonesia)coreStrategic or Co-development PartnerOne of three largest private non-life insurance companies in Indonesia with annual premium income of over Rupiah 1,490 billion (Php 7.5 billion). Has track record of good operating performance. Part of Asian Insurance International Group.
• Bangkok Bank PCL (Thailand)coreStrategic or Co-development PartnerLargest commercial bank in Thailand holding significant shares in Asia Insurance (Philippines) Corporation. Provides banking partnership and financial support.
• BDO Unibank Inc.majorChannel Partner/ Reseller/ DistributorBank partner providing insurance product distribution through BDO branch network
• Bank of the Philippine Islands (BPI)majorChannel Partner/ Reseller/ DistributorBank partner distributing insurance products through BPI branch network
• Metropolitan Bank and Trust Company (Metrobank)majorChannel Partner/ Reseller/ DistributorBank partner distributing insurance products through Metrobank branch network
• RCBCmajorChannel Partner/ Reseller/ DistributorBank partner distributing insurance products through RCBC branch network
• Toyota Financial Services Philippines CorporationmajorChannel Partner/ Reseller/ DistributorFinancial institution partner specializing in automotive financing insurance distribution
• Asia Insurance (Cambodia) Plc.coreStrategic or Co-development PartnerSister company under Asia Insurance Group operating in Cambodia. N 5, Street 13, next to Central Post and Telecommunication of Phnom Penh, Kingdom of Cambodia.
• Asia Insurance Co., Ltd - Macau BranchcoreStrategic or Co-development PartnerRegional branch of Asia Insurance Group serving Macau market at Avenido da Praia Grande, No. 762, Edificio China Plaza

Scale indicators6 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Prudential Guarantee and Assurance, Inc. Philippine non-life insurer with multi-line coverage including fire, motor, marine, casualty, and surety. Comparable product breadth and Philippine market focus.
• Cocolife: Filipino cooperative insurance provider offering non-life and life products including fire, motor, marine, and casualty coverage. Comparable multi-line non-life offerings in the Philippine market.
• Charter Ping An Insurance Corporation: Major Philippine non-life insurer with broad coverage including motor, fire, marine, surety, and engineering lines. Comparable diversified non-life product portfolio serving individual and corporate clients.
• Federal Phoenix Assurance Co., Inc. Philippine non-life insurance company offering fire, motor, marine, casualty, and surety products. Comparable multi-line non-life carrier competing in the same Philippine market.
• FPG Insurance Co., Inc. Philippine non-life insurance company offering fire, motor, marine, casualty, and surety products to individuals and businesses. Directly comparable multi-line non-life model.
• Pioneer Insurance & Surety Corporation: Established Philippine non-life insurer offering fire, motor, marine, casualty, surety, and engineering products. Comparable six-line non-life portfolio and bancassurance distribution strategy.
• Malayan Insurance Co., Inc. One of the largest non-life insurance companies in the Philippines offering fire, motor, marine, casualty, surety, and engineering lines. Directly comparable multi-line non-life product portfolio and Philippine market focus.
• MAPFRE Insular Insurance Corporation: Philippine non-life insurer backed by international insurance group MAPFRE, offering motor, fire, marine, engineering, casualty, and surety products. Closely matched product mix and foreign-group backing model.

Broad incumbents

• AXA Philippines: International insurance group with general insurance operations in the Philippines, offering motor, property, marine, casualty, and engineering lines as part of a wider portfolio. Comparable product set but broader regional/global scope.

Regional players

• BDO Insurance: Insurance arm of BDO Unibank, one of AIPC's largest bank distribution partners, operating as a captive/bancassurance-driven general insurer. Comparable bancassurance-led distribution model in the Philippine market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/AsiaInsurancePH
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/asia-traders-insurance-corporation

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries3 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 Asia Insurance