Commonwealth Insurance Company

What Commonwealth Insurance Company does

Commonwealth Insurance Company (CIC) is a Philippine non-life insurance provider headquartered in Makati City, in continuous operation since 1935. The company offers a diversified portfolio organized across eight product lines: Fire Insurance, Marine Insurance, Motor Car Insurance (including the mandatory Compulsory Third Party Liability product for LTO vehicle registration), Engineering Insurance, Personal Accident Insurance, Bonds (surety and guarantee), Special Risk/Equipment Floater, and Miscellaneous lines (Comprehensive General Liability and Money/Securities/Payroll Robbery). CIC serves both individual policyholders (residential property owners, vehicle owners, families seeking personal accident coverage) and a broad base of enterprise clients spanning automotive dealership networks (Toyota, Ford, Honda, Chevrolet, Mitsubishi, Isuzu in the Philippines), banks (BDO, Metrobank, BPI), construction firms (Megawide, EEI, DM Consunji), real estate developers (Ayala Land, Megaworld), energy companies (Meralco, Aboitiz), telecommunications (Globe), logistics (Harbor Star Shipping), pharmaceutical (United Laboratories), and government agencies (Philippine Sports Commission).

CIC operates a traditional non-life insurance revenue model anchored on premium collection across multi-line annual and multi-year policies, supplemented by claims handling services. Pricing is quote-based and varies by coverage type, risk profile, and policy value, with CTPL rates regulated under Philippine law. Distribution combines direct sales through 20+ branch offices across Metro Manila, Luzon, Visayas, and Mindanao, with channel distribution through accredited banks, insurance brokers (Marsh, Lockton, BDO Insurance Brokers), and financing/leasing partners (Toyota Financial Services, ORIX Metro, BDO Finance), enabling nationwide product reach. Marketing emphasizes brand longevity, prompt claim settlement, and fast policy issuance rather than technology-led differentiation.

On the technology dimension, CIC operates as a traditional insurer using standard industry systems for policy management, claims processing, and customer service, with no disclosed proprietary technology platform, AI/ML capabilities, or unique data assets. The company maintains its regulatory position through a 2025-2027 Certificate of Authority from the Insurance Commission, a National Privacy Commission Seal of Registration, and ASEAN Corporate Governance Scorecard compliance. Ownership is private and concentrated, led since October 1997 by Chairman, CEO, and President Mario A. Noche, with several Noche and Regala family members occupying senior vice president and director roles.

Name

Commonwealth Insurance Company

Legal name

Commonwealth Insurance Company

Website

https://cic.com.ph

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Commonwealth Insurance Company is a Philippine non-life insurer founded in 1935 and headquartered in Makati City, offering motor car, fire, marine, engineering, bonds, personal accident, and casualty insurance through 20+ branches and bank distribution channels serving both individuals and enterprises.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Fleet & Commercial Auto Liability (FSAJABAA)

akta.pro secondary industries

Commercial Property Insurance (FSAJACAE), Public Liability (Premises/Operations) (FSAJADAD), Travel & Accident (Non-Life) Insurance (FSAJAMAN), Commercial Auto & Fleet Liability Insurance (Primary) (TLABANAA)

Keywords

• Non-life insurance
• Motor vehicle insurance
• Fire insurance
• Surety bonds
• Property insurance

Headquarters

HQ city

Makati

HQ country

Philippines

HQ region

Asia

Offices20 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: CIC generates revenue through insurance premiums collected from policyholders across multiple insurance product lines including fire, motor car, marine, engineering, personal accident, bonds, special risk, and miscellaneous insurance. Premiums are collected at policy inception and renewal, providing both one-time and recurring revenue streams.
2. Claims Processing Services: CIC provides claims handling and settlement services as part of its core insurance operations, with emphasis on prompt settlement of valid claims as a key differentiator.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels3 records

Core offering

Commonwealth Insurance Company provides non-life (general) insurance products in the Philippines, offering coverage across fire, motor car, marine, engineering, personal accident, surety bonds, special risk, and miscellaneous liability lines. The company serves both individual consumers (motor CTPL, residential fire, personal accident) and corporate clients (automotive dealerships, construction firms, banks, real estate developers, utilities), distributing through its nationwide branch network, accredited banks, and insurance brokers.

Product overview

Commonwealth Insurance Company offers a diversified portfolio of insurance products organized into eight core categories: Fire Insurance, Marine Insurance, Motor Car Insurance, Engineering Insurance, Personal Accident Insurance, Bonds, Special Risk (Equipment/Property Floater), and Miscellaneous products including Comprehensive General Liabilities and Money/Securities/Payroll Robbery Insurance. The company serves both residential and commercial customers with coverage options ranging from basic mandatory protections like CTPL to comprehensive policies covering property, liability, and specialized risks. Products can be purchased individually and claims can be filed through the company's nationwide branch network.

Differentiator

Problem solved

Functional benefit

Products and services

• Fire Insurance Insurance protection for residential and commercial properties (houses, condominiums, apartments, buildings and their contents) against fire and lightning, with optional extensions to typhoon, flood, earthquake, water damage, sprinkler leakage, burglary/robbery, business interruption, and riot/strike/malicious damage. Available to both homeowners and business owners.
• Motor Car Insurance Insurance coverage for vehicles against loss, damage, or legal monetary liabilities arising from vehicle use, including Compulsory Third Party Liability (CTPL, mandatory under Philippine law with Php200,000 death benefit) and comprehensive motor car coverage protecting against carnapping, acts of nature, own damage, bodily injury, personal accident, property damage, and third-party liability. For individual vehicle owners, fleets, and corporate fleet clients.
• Marine Insurance Insurance protection for goods during import, transportation, and navigation against loss or damage, covering inland marine and marine cargo categories. For shippers, importers, exporters, and logistics operators.
• Engineering Insurance Insurance protection during construction or erection works against loss or damage, including Contractors' All Risk insurance, Machinery Breakdown insurance, Electronic Equipment insurance, Erection All Risks insurance, Boiler and Pressure Vessel insurance, and Deterioration of Stock insurance. For construction firms, contractors, project owners, and industrial operators.
• Personal Accident Insurance Year-round protection for individuals, families, or groups providing benefits for accidental permanent disability, dismemberment, or loss of life. Categories include standard, executive, group student, family, and travel personal accident insurance. For individuals, families, students, travelers, and group schemes.
• Bonds Surety and guarantee bonds undertaking the legal obligation of a principal in favor of an obligee, including bidders bonds, performance bonds, surety bonds, judicial bonds, heirs bonds, fidelity bonds, and real estate brokers fund. For contractors, businesses bidding on projects, and parties in judicial proceedings.
• Special Risk (Equipment/Property Floater Insurance) Insurance protecting movable property against loss or damage while in various locations or in transit, commonly used to cover heavy construction equipment such as bulldozers and backhoes. For construction, equipment-rental, and mobile-asset operators.
• Miscellaneous Insurance (Comprehensive General Liabilities and Money, Securities & Payroll Robbery Insurance) Comprehensive General Liabilities (CGL) protects the insured against legal liabilities from business affairs, including bodily injuries to others or property damage from premises operations, elevator, independent contractor, products, and contracts. Money, Securities & Payroll Robbery (MSPR) Insurance protects business establishments against loss of money, securities or payrolls due to robbery, including checks and other papers representing money or property. For commercial establishments and businesses across sectors.

Quantifiable outcome

• Nearly 90 years of continuous operation since 1935, demonstrating long-term stability and industry expertise

Named customers20 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and major.

• BDO Unibank, Inc.coreChannel Partner/ Reseller/ DistributorBDO Unibank is one of the largest universal banks in the Philippines and serves as a key distribution channel for CIC insurance products through bank branch network.
• Metrobank (Metropolitan Bank and Trust Co.)coreChannel Partner/ Reseller/ DistributorMetrobank, one of the leading universal banks in the Philippines, distributes CIC insurance products through its extensive branch network.
• Bank of the Philippine Islands (BPI)coreChannel Partner/ Reseller/ DistributorBPI, one of the oldest and largest banks in the Philippines, serves as a key partner for distribution of CIC insurance products.
• Development Bank of the Philippines (DBP)majorChannel Partner/ Reseller/ DistributorDBP, a government-owned development bank, distributes CIC insurance products as part of its service offerings to clients.
• RCBC (Rizal Commercial Banking Corporation)majorChannel Partner/ Reseller/ DistributorRCBC distributes CIC insurance products through its branch network across the Philippines.
• Security Bank CorporationmajorChannel Partner/ Reseller/ DistributorSecurity Bank partners with CIC for insurance product distribution through its banking channels.
• Union Bank of the PhilippinesmajorChannel Partner/ Reseller/ DistributorUnion Bank distributes CIC insurance products as part of its financial service offerings.
• East West Banking Corp.majorChannel Partner/ Reseller/ DistributorEast West Bank distributes CIC insurance products through its branch network.
• Marsh Philippines, Inc.majorChannel Partner/ Reseller/ DistributorMarsh, a leading insurance broker, places CIC insurance products with corporate clients requiring coverage.
• Lockton Philippines Insurance and Reinsurance Brokers, Inc.majorChannel Partner/ Reseller/ DistributorLockton Philippines serves as an insurance broker partner placing CIC products with clients.
• BDO Insurance Brokers, Inc.majorChannel Partner/ Reseller/ DistributorBDO Insurance Brokers places CIC insurance products with BDO client base.
• Toyota Financial Services Philippines, Inc.majorChannel Partner/ Reseller/ DistributorToyota Financial Services distributes CIC insurance products to Toyota vehicle buyers and owners.
• ORIX Metro Leasing and Finance Corp.majorChannel Partner/ Reseller/ DistributorORIX Metro distributes CIC insurance products alongside its leasing and financing services.
• BDO Finance Corp.majorChannel Partner/ Reseller/ DistributorBDO Finance distributes CIC insurance products as part of its financial services portfolio.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Federal Phoenix Assurance Company Inc. Philippine non-life insurer with fire, motor, marine, and engineering offerings. Comparable mid-sized competitor in the Philippine P&C market with overlapping corporate and bank distribution.
• Malayan Insurance Company Inc. One of the oldest Philippine non-life insurers offering fire, motor, marine, aviation, engineering, and personal accident coverage. Comparable to CIC in longevity, product breadth, and nationwide Philippine reach.
• FPG Insurance Co. Inc. Philippine P&C insurer under the FPG group, offering motor, fire, marine, engineering, and personal accident products. Direct comparable in product mix and Philippines-only focus.
• Stronghold Insurance Company Inc. Philippine non-life insurer offering fire, motor, marine, casualty, and bonds. Comparable mid-sized competitor with overlapping product lines and bancassurance distribution.
• Pioneer Insurance: Philippine non-life insurer providing motor, fire, marine, engineering, and surety products through branches and bancassurance channels. Direct competitor to CIC with similar product mix and corporate customer base.
• Standard Insurance Co. Inc. Philippine non-life insurer providing fire, motor, marine, engineering, and personal accident coverage. Comparable mid-sized competitor with similar product mix and domestic focus.
• Prudential Guarantee Assurance Inc. Established Philippine non-life insurer offering fire, motor, marine, casualty, and surety bonds. Direct competitor to CIC across core commercial P&C lines and bonding.
• Pacific Union Insurance Company: Philippine non-life insurer with motor, fire, marine, and engineering products. Comparable mid-sized domestic competitor in the Philippine P&C market.
• MAPFRE Insular Insurance Corporation: Joint venture between Filipino shareholders and MAPFRE (Spain), offering motor, fire, engineering, marine, and personal accident products in the Philippines. Competes directly with CIC in core non-life lines.
• Charter Ping An Insurance Corporation: One of the largest non-life insurers in the Philippines, offering motor, fire, marine, engineering, and personal accident lines with nationwide distribution. Highly comparable to CIC given overlapping P&C product portfolio and Philippines-only focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Commonwealth Insurance Company