The Philippine Deposit Insurance Corporation (PDIC) announced on Wednesday, May 21, that the state deposit insurer has expanded its coverage to Islamic banks (IBs) and Islamic banking units (IBUs). As announced through Bulletin 2024-09, IBs and IBUs in the Philippines are “now officially covered...
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...
President Marcos has ordered the Department of Transportation (DOTr) to study the proposal to increase the insurance payment coverage for private motor vehicles in cases of road crash involving PUVs. Multiple vehicle collision on Subic-Clark-Tarlac Expressway (Photo courtesy of Philippine Red...
VIGAN, Ilocos Sur -- Powerhouse Standard Insurance Philippines stamped its class in team play after topping the Stage 2 Team Time Trial on Friday, April 25, in the 2025 Tour of Luzon that started in front of the San Agustin Church in Paoay and ended in front of the Ilocos Sur Capitol here. Bannered...
The Philippine Deposit Insurance Corp. (PDIC) has enhanced and extended its closed bank loan incentive program (CLIP) in 2025 to enable more borrowers from closed banks to manage their debts and avoid foreclosure. In a statement, PDIC said the offering, now known as CLIP 3.0, has increased...
ZAMBOANGA CITY —The Philippine Health Insurance Corp. (PhilHealth) Regional Office IX and Ciudad Medical Zamboanga (CMZ) formalized an accreditation agreement on March 10 recognizing CMZ as the region’s first PhilHealth Z-Benefit Provider for Kidney Transplantation in 2025. CMZ and PhilHealth...
Large companies' heavy reliance on bank loans, particularly from major local banks, could amplify vulnerabilities within the Philippine financial sector, according to the 2024 Financial Stability Report (FSR). "Corporates’ heavy reliance on bank funding could amplify credit risks to the financial...
Pru Life UK, a London-based international life insurance company, is set to be the first Takaful operator in the Philippines, as the insurer’s executives confirmed it will launch the product next month, April 2025. Speaking to reporters during a roundtable discussion on Monday, March 24, Pru Life...
Senatorial candidate Ben Tulfo seeks to provide life insurance for barangay volunteers in a bid to prioritize their welfare. Tulfo said this as he addressed the municipalities in Nueva Ecija specifically the towns of Talavera and Rizal, where he was invited as a guest speaker. “What happens to...
Would you buy a divorce insurance? On March 31, Prime Video will premiere the new Korean romantic comedy series “The Divorce Insurance” starring Lee Dong-wook, Lee Joo-been, Lee Kwang-soo and Lee Da-hee. The series focuses on a team that is planning to create a divorce insurance product...
