State-run Philippine Deposit Insurance Corp. (PDIC) has raked in a total of ₱411.4 million from the sale of 281 closed-bank properties in 2024, a 24.7-percent increase from the ₱300-million sales in the previous year. According to PDIC, this improvement is reflective of its “effective asset...
State-run Government Service Insurance System (GSIS) is offering government workers a chance to escape high-interest loans through its enhanced Ginhawa Max Loan Buyout program, which directly addresses the financial struggles many public servants face. In a statement, Wick Veloso, GSIS president...
State-run Government Service Insurance System (GSIS) has allocated over ₱22 million in emergency loans for its members and pensioners in La Paz, Agusan del Sur, who were affected by flooding and extended rainfall. Aside from members, the allocation would also cover the old-age and disability...
With 8.1-billion-euros worth of insurance premiums last year in the Philippines, Germany-based Allianz predicts it will bloat by 9.2 percent annually over the next decade, reaching 21.4 billion euros or about ₱1.33 trillion by 2035. Allianz Research said in its Global Insurance Report 2025...
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...
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...
