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Manila Bulletin devider Business devider Banking & Finance devider Philippine health insurance industry more than doubles H1 net income on revenue growth

Philippine health insurance industry more than doubles H1 net income on revenue growth

Published Aug 27, 2025 12:59 pm  |  Updated Aug 27, 2025 01:33 pm

At A Glance

  • The Philippine health insurance industry more than doubled its net income in the first six months of the year on the back of faster growth in the industry's revenues.
The Philippine health insurance industry more than doubled its net income in the first six months of the year on the back of faster revenue growth.
The latest data from the Insurance Commission (IC) released on Wednesday, Aug. 27, showed that the health insurance industry’s total net income soared by 131.1 percent to ₱1.5 billion in the first half from ₱636.6 million in the same period a year ago.
During the first half, total revenues generated by health maintenance organizations (HMOs) reached ₱47 billion. This jumped 21.4 percent from ₱38.8 billion in the same period in 2024.
The bulk of these revenues are collections from membership fees, which stood at ₱45.8 billion during the January-to-June period. It was 25.2-percent higher than the ₱36.6 billion a year ago.
Meanwhile, the HMO industry’s total expenses, including its earnings from income taxes, jumped by 19.5 percent to ₱45.6 billion at end-June from ₱38.1 billion last year.
Of these, 79.6 percent or ₱36.3 billion are healthcare benefits and claims paid out by HMOs during the first half of 2025. It increased by 19.6 percent from the ₱30.3 billion paid out in the same period last year.
As for its financial stability, total assets of the HMO industry increased by 21.1 percent to ₱83.9 billion in the first half from ₱69.3 billion in the same period last year.
Posting a faster growth than assets, total liabilities expanded by 23.9 percent to ₱72.2 billion as of end-June from ₱58.3 billion a year ago.
Meanwhile, its total invested assets declined by 13.2 percent to ₱18.2 billion from ₱21 billion in 2024.
According to the IC, total invested assets declined as cash equivalents matured, resulting in a 25.9-percent or ₱2.5-billion net drop during the period.
To recall, the Philippine insurance industry posted double-digit growth in terms of premium collections in the first half.
Combined premiums for both life and non-life insurance products reached ₱242.8 billion as of end-June. This reflects a 13-percent growth from last year’s premium collections of ₱214.9 billion.
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