A sari-sari store around the corner, eateries lining up on the side of a street, 24/7 community laundry shop, or a digital marketing start-up agency are just a few examples of MSMEs or micro, small, and medium-sized enterprises that play a crucial role in providing employment and driving economic...
Even with the safety net of deposit insurance, both small and large depositors tend to pull out their funds when a nearby bank shuts down, suggesting that fear of losing access to cash outweighs the assurance of protection, according to a study co-authored by top Bangko Sentral ng Pilipinas (BSP)...
State-run Government Service Insurance System (GSIS) has reported that more than 99 percent of its transactions in the first half of 2025 were conducted online. From January to June, nearly all GSIS services, such as applying for loans and checking member information, were available via the GSIS...
The state-run Government Service Insurance System (GSIS) will release the June pension payments two days early, on Friday, June 6, instead of the usual eighth of the month. According to the GSIS, the adjusted date of release would fall on Eid’l Adha, which has been declared a regular nationwide...
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...
