About PLIA

Safeguarding Futures. Strengthening the Nation.

The pulse of the Philippine life insurance industry since 1950.

The Philippine Life Insurance Association, Inc. (PLIA) serves as the official home of all life insurance companies in the country. We have spent over seven decades ensuring the industry stays reliable, transparent, and most importantly, focused on the Filipino family.

What we do

Think of us as the industry’s guiding light. We set the standards that keep your investments safe through three core pillars:

We work with lawmakers to ensure insurance policies are fair and future-ready.

We make sure that our member companies operate with the highest level of ethics.

We inform Filipinos on the value of insurance so more can build a financial safety net.

Who we are

We are a community of 32 member companies working together to strengthen the nation’s financial health. While our names have changed since 1950, our mission to protect Filipino families has remained the same.

A legacy of evolution and growth

Our journey began in 1950, evolving from the Philippine Association of Life Assurance Companies (PALAC) to the Life Insurance Companies Association of the Philippines, and finally to the PLIA you know today.

We bring together the sharpest minds in the industry to build a stable, reliable market that works for everyone.

We collaborate with the Insurance Commission (IC) to ensure the industry meets global benchmarks for stability and total transparency.

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.

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.

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%

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.

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).

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!

75 Years of PLIA: A Legacy Through the Years