The LBP Insurance Brokerage, Inc. (LIBI) was established by the Land Bank of the Philippines on October 22, 1981 primarily to service the bank's insurance requirements and other government offices. LIBI was created for the purpose of engaging in the business of general insurance brokerage and for providing management and consultancy services on insurance-related activities to its clients. As of July, 2005, LIBI's paid up capital stood at P200 Million. LIBI has total assets of P516.00 Million and Net Worth of P438.00 Million. Some of LIBI's clients aside from Land Bank and its other subsidiaries are: National Development Company, Provident Fund of Home Development Mutual Fund, People's Credit & Finance Corporation, Bangko Luzon and the Philippine Charity Sweepstakes Office.