In most developing countries, the business of insurance in the Philippines is a closely regulated industry to the end that insurance contracts are equitable and that commitments and obligations are fulfilled. The first life insurance firm in the Philippines was introduced by the Sun Insurance Company of Canada in 1898. It was established in 1906 and named Ettong Fire and Marine Insurance Company. The study is limited to the selected insurance brokers operating in Metro Manila and the research covers the year 1980-1984. The research design made used both historical and descriptive research method. Statistical techniques were used to analyze data collected for the study. These are the presentation of data, both qualitative and quantitative into classes and their frequencies counted and presented in the form of absolute and relative distributions. As an industry, the insurance business in the Philippines has gone through a series of development. It's operations have become more complex and its problems more varies and significant, encompassing all phases of the industry. Thus, insurance brokers had to be established to meet the growing needs of the general public.