Oona Insular Insurance Corporation (OIIC or Oona Insurance Philippines) is a joint venture between Oona Philippines Holdings Corporation (OPHC) , a Philippines incorporated holding company owning 60% of shares, and Insular Life Assurance Co. Ltd. (Insular Life), one of Philippines’ oldest life insurance companies, who has now increased their shares to 40%. This joint venture will allow current and future distribution channels to scale up and provide stronger general insurance products delivered digitally.
OIIC is an indirect subsidiary of Oona Holdings Pte. Ltd., a holding company incorporated in Singapore which is backed by funds advised and managed by Warburg Pincus LLC. Oona completed the acquisition of shares in OPHC from Mapfre Internacional SA in 2022.