The Philippine Competition Commission (PCC) has greenlighted the merger of two prominent non-life insurers, FPG Insurance and The Mercantile Insurance Company. The competition regulator said in a statement that it had found the transaction would not affect competition in the local non-life insurance market.
The PCC was notified of the merger on 19 November 2025. Under the transaction, Mercantile Insurance will be the surviving entity, with the merged company to be called FPG Mercantile.
Mercantile Insurance provides coverage across health, accident, fire and allied lines, motor, casualty, marine and cargo, marine hull, comprehensive liability insurance, and other allied risks. Meanwhile, FPG Insurance offers protection in fire and allied perils, motor, casualty, marine, medical, personal accident, engineering, as well as surety and bond products.
The PCC said it “determined that the merger is likely to pose no substantial lessening of competition in the relevant markets”.
“The parties’ combined market share remains low, preventing them from unilaterally influencing market conditions or engaging in foreclosure strategies. Multiple competitors in the relevant markets provide sufficient competitive constraints on the merged entity,” it added.