Philippines
Philippines, FAO push insurance access for small fishing vessels
The country offers subsidies, flexible payment schemes, and simplified products.
Pru Life UK launches Shari’ah-compliant life plan in Philippines
It has a a minimum annual contribution of $4.25 (₱250).
Philippine pre-need premiums grow 4.4% in early 2025
Total premium income also grew by 4.41% to $105m.
Singlife offers funeral coverage of up to $9,000 via app
Funeral expenses in the Philippines often exceed $3,600.
GCash offers free insurance with mobile load purchases via GInsure
Eligible users can receive up to $540.
FWD Life Insurance is the Philippines' top life insurer in Q1 2025
Its new business annual premium equivalent rose 57% during the quarter.
Insular Life posts 1.1% rise in FY 2024 net income
New Business Premiums surged by 20.0% YoY.
Generali completes sale of Philippine unit to Insular Life
In a previous announcement, this could result in a capital loss of ~$23m.
FWD Philippines taps Lau for CEO post in June succession
Lau has been with FWD since 2016.
How did the Philippines’ insurance market perform in Q1 2025?
The commission expects this momentum to continue through the year.
Philippine insurance penetration rises to 1.89% in Q1 2025
Insurance density also grew by 13.40% YoY.
Philippines’ non-life sector gains from reinsurance capacity: AM Best
Additionally, insurers are expected to benefit from improved investment income.
Philippines HMO sector soars in Q1 2025
The growth is primarily driven by the 26.15% increase in the collection of membership fees.
Philippines orders higher insurance for private vehicle riders
The PPAI provides up to $7.2k (₱400,000) in death benefits.
Philippines expands allowable investments for regulated insurers
It introduces investment types like debt securities by supranational organisations.
Philippines calls for more gender-specific insurance and HMO plans
The commission also encourages gender-sensitive plans and programmes.
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