The Philippine Competition Commission (PCC) said over the weekend it approved the proposed acquisition of Generali Life Assurance Philippines Inc. by the Insular Life Assurance Company Ltd. (InLife).
The anti-trust body, in a decision dated May 7, 2025, concluded that the transaction is unlikely to substantially lessen competition in the relevant markets.
Both InLife and Generali Philippines are licensed life insurance providers in the country, offering traditional life insurance products including individual and group coverage, with health and medical riders as well as standalone health insurance plans.
The PCC’s Mergers and Acquisitions Office (MAO) began a phase 1 review of the transaction on April 8, 2025 to assess any potential competition concerns under the Philippine Competition Act (PCA).
Following a detailed review of market conditions, submissions from the parties and third-party feedback, the MAO found that the acquisition would not harm competition.
The decision cited strong competitive pressure from numerous existing players, low barriers to market entry and the ease with which consumers can switch providers due to a wide range of available products and distribution channels.
The PCC also noted that regulatory oversight, evolving consumer preferences and the role of brokers help maintain competitive discipline, limiting any risk of price increases or reduced service quality.
The PCA mandates the PCC to review mergers and acquisitions to ensure they do not lead to a substantial lessening of competition or harm consumer welfare.
