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Manila Bulletin devider Business devider Banking & Finance devider Oona targets 2026 profit as storms blunt 2025 performance

Oona targets 2026 profit as storms blunt 2025 performance

Published Jan 23, 2026 03:58 pm
Oona Insurance Philippines is maintaining an optimistic outlook for its profitability goals despite a series of destructive typhoons in Central Visayas that hampered its financial performance over the past year.
On the sidelines of the insurer’s joint event with Palawan Group of Companies, Oona Insurance Philippines President and Chief Executive Officer (CEO) Ninoy F. Rollan said their 2025 bottom line was pressured by significant claims following back-to-back storms in Cebu.
“Our profitability target in 2025 was aspirational, but the Cebu typhoons were among the least expected setbacks,” Rollan told reporters on Friday, Jan. 23.
Rollan noted that the extreme weather events served as primary headwind for the broader insurance industry.
While the 2025 figures remain unavailable, Rollan stressed that Oona has outpaced the industry’s performance. He is also keeping his fingers crossed that the insurer will eventually be profitable in 2026.
Meanwhile, Oona expressed openness to engaging with any entity—banks or nonbanks—willing to partner with the insurance firm.
Double-digit growth in both life and non-life premiums fueled the insurance industry’s expansion as of end-September, driven by Filipinos’ rising awareness and demand for financial protection.
As of end-September 2025, the total premiums for the insurance industry—comprising life and non-life insurance firms, as well as mutual benefit associations (MBAs)—reached ₱372.1 billion. This was 13.2 percent higher than the ₱328.6 billion in 2024, according to the Insurance Commission (IC).
During the first three quarters of 2025, the non-life sector posted a 13.1 percent increase, rising to ₱60.1 billion from ₱53.1 billion in the same period in 2024. Oona was a non-life insurer first, before entering into partnerships, such as its partnership with Palawan, which offers critical illness insurance.
IC Commissioner Reynaldo A. Regalado said the insurance industry continues to grow as more Filipinos become aware of the importance of financial protection and place greater trust in insurance.
Palawan rolled out Palawan ProtekTODO Critical Illness in partnership with Oona, which acts as its underwriter. Policyholders can choose a Basic Plan with ₱50,000 coverage for ₱550 per year, or a Plus Plan with ₱100,000 coverage for ₱1,100 per year.
Oona said its partnership with Palawan has made it easier for people to access and understand insurance.
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