FPG Insurance and Mercantile Insurance have completed their merger, forming a combined non-life insurer operating under the FPG Mercantile brand, according to a LinkedIn announcement.
The deal, first announced in August 2025, results in a combined entity with gross written premiums of around PHP10bn (US$162m), positioning FPG Mercantile among the top four non-life insurers in the country by premiums.
“This strategic integration strengthens our ability to provide reliable protection, innovative solutions and enhanced service to our clients and partners—ensuring we are ready when it matters,” the company said.
At the time of the announcement, FPG expected the transaction to close by October 2025. The deal has now closed ahead of that timeline. The companies had committed to maintaining existing policies and customer services without immediate changes during the transition period.
In January, the Philippine Competition Commission approved the merger, concluding it was unlikely to lessen competition in the domestic non-life insurance market substantially. The insurers have overlapping portfolios across motor, fire, marine, casualty, engineering, personal accident and surety lines.
The merger follows FPG’s expansion of its digital distribution channels, including its partnership with fintech GCash to provide free accident and health insurance coverage to mobile credit purchasers through the GInsure platform.
