The Philippine Competition Commission (PCC) has cleared the merger of FPG Insurance Co. Inc. and The Mercantile Insurance Company, Inc., after finding it would not harm competition in the non-life insurance market.

In a news release Wednesday, the PCC said it was notified of the merger on Nov. 19, 2025, with Mercantile Insurance as the surviving entity and the new company to be called FPG Mercantile.

Mercantile Insurance offers health, accident, fire and allied lines, motor vehicle, casualty, marine, cargo, marine hull, comprehensive liability insurance, and allied risks, while FPG Insurance provides fire and allied perils, motor, casualty, marine, medical, personal accident, engineering, surety, and bonds.

PCC said its Mergers and Acquisitions Office (MAO) Review Team “determined that the merger likely poses no substantial lessening of competition in the relevant markets.”

“The parties’ combined market shares remain 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 said.