FPG, Mercantile merge to form new insurance giant

Two of the country’s biggest non-life insurers—FPG Insurance Co. Inc. and The Mercantile Insurance Co. Inc.—are merging to form a new entity with an estimated P10-billion gross written premium (GWP), a scale that would place it among the top four players in the Philippine non-life insurance market.

- By BEN ARNOLD DE VERA

The merged company, to be named FPG Mercantile, is expected to be finalized by October 2025, subject to regulatory approvals from the Insurance Commission (IC) and other agencies.

In a joint statement last week, the two companies said that the deal will allow their combined business to strengthen financial stability, expand digital solutions, and enhance customer service for millions of Filipinos.