Philippine life premiums rise 18% to $4b in H1 2026

Benefit payments jumped 19.57% to $1.1b in the first half.

Premium collections of life insurance companies in the Philippines rose 17.91% in the first half of 2026, driven mainly by variable life insurance products, according to the Insurance Commission.

Total premiums reached $3.7b (P229.98b) from January to June, up from $3.1b (P195.05b) in the same period in 2025.

Premium collections from both variable life and traditional life insurance products increased during the period.

New business annual premium equivalent, a measure used by the industry to track new policy sales, increased 13.13% to $669.9m (P41.87b) from $592.2m (P37.01b).

The industry's net income rose 3.42% to $342.7m (P21.42b) in the first half from $331.5m (P20.72b) a year earlier.

Total assets increased 8.77% to $34.7b (P2.17t), taking the industry's assets above the P2-trillion mark.

Total invested assets also rose 8.77% to $33.6b (P2.10t), whilst total net worth increased 0.61% to $4.6b (P289.48b).

Liabilities climbed 10.15% to $30.1b (P1.88t).

Meanwhile, benefit payments to policyholders and beneficiaries increased 19.57% to $1.1b (P69.21b), from $926.1m (P57.88b) in the first half of 2025.

($1.00 = P62.39)