The health maintenance organizations’ (HMO) net income nearly doubled in the first three months of the year owing to lower benefit and claim payments, the Insurance Commission (IC) said. Based on the preliminary financial statements submitted to the IC, HMOs reported that the industry’s...
The Insurance Commission (IC) wants to remove variable insurance products from the list of mutual fund schemes to avoid increasing costs for consumers and defeating the goal of financial inclusion for all Filipinos. Sec. Dominguez and Comm. Funa In a letter to Finance Secretary and Capital Market...
The Council of Members of Asian Reinsurance Corp. (Asian Re) has reelected Insurance Commissioner Dennis B. Funa as chairperson for a fresh new two-year term. Screen Shot 2021-06-14 at 3.35.00 PM Funa, who previously served as vice-chairperson, was first elected as chairperson of Asian Re’s...
Changes in spending habits amid the community lockdowns last year have boosted the premium income of life insurance companies, the government regulator said on Tuesday (April 20). In a statement, Insurance Commissioner Dennis B. Funa said that life insurance industry’s premium income rose by 5.9...
Homegrown insurance technology (insurtech) startup Kwik.insure today (March 30) launched the country’s largest online insurance marketplace with over 100 life and non-life insurance products from 15 top providers. Consumers can select, search, and compare different insurance offerings digitally,...
The Insurance Commission (IC) wants to roll out the first private sector-led catastrophe insurance facility designed to heighten the country’s financial resilience against natural disasters. Insurance Commissioner Dennis B. Funa said they are finalizing...
Insular Life (InLife), the country’s largest Filipino life insurer, has raised its capital requirement ahead of the Insurance Commission’s (IC) deadline. In a statement, Nina D. Aguas, InLife executive chairman, said the company will infuse P600 million into its total member’s equity,...
