Birth of Industry Collaboration Foundation & Formation 1950: PALAC (Philippine Association of Life Assurance Companies) is founded, starting organized collaboration in life insurance.

1980: PALAC is officially registered with the SEC.

1985–1987: LICAP is formed, then renamed to LIAP.

1989: LIAP and PALAC merge to create PLIA, uniting the life insurance industry.
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Market Opens, Global Players Arrive Globalization & Market Growth 1994: Government opens the market to top-tier foreign insurers.

1995–2000: Major global insurers enter: Aetna, Jardine CMG, ING, Pru, Zurich, Generali, Sony Life, AXA, New York Life, Nippon, MetLife.

2002: Variable Life (VUL) products are introduced, combining protection and investment.
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Strengthening the Framework Regulatory Strengthening & Consumer Access 2006: Risk-Based Capital framework adopted (IC IMC 6-2006).

2009: PLIA membership becomes mandatory (IC CL 2009-24).

2010: Microinsurance launched (IC IMC 2010-01); RA 10001 cuts premium tax from 5% to 2%
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Regulatory Modernization & Digital Beginnings Regulatory Strengthening & Consumer Access 2013: RA 10607 modernizes the Insurance Code.

2014: E-commerce guidelines introduced (IC CL 2014-47).

2015–2016: Bancassurance rules (IC CL 2015-20), conglomerate structure (IC CL 2016-53), and Medical Information Database (IC CL 2016-54) launched for better risk management.
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Digital Shift & Inclusive Insurance Innovation, Inclusion & Celebration 2018: IFRS17 implementation postponed to 2023 (IC CL 2018-69).

2020: Remote selling is institutionalized (IC CL 2020-109).

2022: Takaful (Islamic insurance) introduced (IC CL 2022-04).

2023: Financial Consumer Protection Act takes effect (IC IMC 2023-01).
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Takaful Expansion, IFRS Delays & Milestone Innovation, Inclusion & Celebration 2024: Guidelines for Takaful “window” operations issued (IC CL 2024-13); IFRS17 implementation extended to 2025 (IC CL 2024-04).

2025: Another IFRS17 extension to 2027 (IC CL 2025-04).

PLIA celebrates its 75th anniversary — decades of protecting Filipino lives!
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75 Years of PLIA: A Legacy Through the Years

President's Message

Welcome to the website of the Philippine Life Insurance Association, Inc. (PLIA).

Since 1950, PLIA has served as the collective voice of all life insurance companies in the Philippines. Our industry plays a vital role in protecting Filipino families and helping them build financial security through life, health, savings, and investment solutions. We also contribute significantly to nation‑building through long-term investments in government securities, tax remittances, and the many CSR programs of our member companies.

On our 75th anniversary, PLIA remains ever committed to our advocacy of making insurance a real, relatable, and reliable bridge for Filipinos to help them protect their future. And we do this by ensuring that our product design and distribution channels are relevant to the times. Most of all, we are committed to fostering a stable and inclusive insurance sector that upholds the highest ethical and professional standards as expected of us by the public and regulatory boards for our members. 

As such, strengthening public trust is central to our mission. Public education continues to be one of our priorities. We strive to broaden awareness of the value of life insurance, recognizing that an informed public is essential to improving insurance penetration and advancing financial inclusion in the country.

As you explore our platform, we hope you find meaningful information about our industry, our work, and the many initiatives we undertake on behalf of the Filipino people.

Warm regards and best wishes.

Sjoerd Smeets
President

Life Insurance Industry Contribution to Society and Government

As the industry pursues its mission of providing Filipino families with financial protection through the benefits of life insurance, it significantly contributes in various means to society and the national government.

1 B+

Taxes Paid Going to Government Coffers

1 M+

Insured Lives Protected
(51% of population)

1 B+

Invested in Government Securities & Bonds
(60% of total industry invested assets in the capital market)

1 B+

Benefits Paid to Policyholders

1 B+

Dividends Paid to Policyholders

1 K+

Individuals Employed Nationwide Across 926 Branch Offices

1 K+

Agents Empowered with Rewarding Careers