
OONA Insular Insurance Corporation (OIIC) or OONA Insurance Philippines is a joint venture between OONA Insurance Holdings Corporation (OIHC), 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.
OIHC is a wholly owned indirect subsidiary of OONA Insurance Holdings Pte. Ltd.,a Singapore holding company which is backed by funds advised and managed by Warburg Pincus LLC. They have completed the acquisition of shares in OONA from Mapfre Internacional SA last year.