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. Data from the Insurance Commission (IC) showed that total premiums for the insurance...
The Department of Public Works and Highways (DPWH) has signed an agreement with the Insurance Commission (IC) that will pave the way for the enforcement of performance and surety bonds linked to flood control projects flagged for irregularities. DPWH Secretary Vince Dizon and Insurance...
The Department of Public Works and Highways (DPWH) will forge an alliance with the Anti-Money Laundering Council (AMLC), Philippine Competition Commission (PCC), and Insurance Commission (IC) to expedite the recovery of public funds allegedly misused in ghost flood control projects. DPWH Secretary...
Sun Life of Canada (Philippines), Inc. maintained its lead in the domestic life insurance industry, posting ₱28.9 billion in premium income in the second quarter of the year. In a statement, the local unit of Sun Life of Canada, Inc. reported that premium earnings were nearly double the...
The Philippine insurance industry posted a double-digit growth in terms of premium collections in the first six months of 2025, according to the Insurance Commission (IC). Latest data from the IC showed that combined premiums for both life and non-life insurance products reached ₱242.8 billion as...
The Insurance Commission (IC) is proposing to increase premium rates for motor vehicle insurance while also expanding the maximum coverage for policyholders. A draft circular dated June 27, intended for review by non-life insurance companies, proposed an increase in certain basic premium rates for...
The Philippines’ non-life insurance sector’s total premiums posted a 19.2 percent increase to ₱18.8 billion in the first quarter from ₱15.8 billion last year on the back of continued strong demand for motor car and fire insurance, data from the Insurance Commission (IC) revealed. By...
Sun Life Philippines, the local unit of Sun Life of Canada, Inc., led the life insurance industry in the first quarter of 2025 by posting a premium income of ₱15.1 billion — the highest total premium recorded across the sector during this period, the company announced Tuesday. “This...
The Insurance Commission (IC) reported on Wednesday, May 21, that the local life insurance industry’s total premium income surged 13.9 percent to ₱99.9 billion in the first quarter of the year, boosted largely by a massive jump in single premiums under variable life insurance. By volume, the...
The Insurance Commission (IC) reported that the health maintenance organization (HMO) industry’s total net income surged by 84.4 times—or by over half a billion pesos—in the first quarter of 2025 compared to the same period last year, driven by a sharp increase in membership fee income. The...
