Section 170
SEC. 170. For the purposes of this chapter unless the context otherwise requires the terms "company" or "insurance company" shall include all corporations, associations, partnerships, or individuals engaged as principals in the insurance business, excepting fraternal and benevolent orders and societies. "Domestic companies" shall include companies formed, organized or existing under the laws of the Philippine Islands. "Foreign companies" when used without limitation shall include companies formed, organized, or existing under any laws other than those of the Philippine Islands.