GSIS reports 21% net income growth to P135.7B

The Government Service Insurance System (GSIS) reported a 21% increase in net income from operations last year to P135.7 billion, with total income rising by 10.29% to P326.86 billion.

This growth was attributed to strong returns on investments and insurance operations, including gains of P13.27 billion from foreign exchange, P11.24 billion from global private equity investments, and P3.09 billion from local equities.

GSIS's total assets grew by 9.23% to P1.83 trillion, while it disbursed P179.92 billion in claims and benefit payments and provided loans amounting to P370.65 billion.

The pension fund also exceeded its gross insurance premiums target with P10.6 billion written last year and extended housing assistance worth P2.84 billion to over 3,300 families.

President Jose Arnulfo A. Veloso highlighted the significance of these financial achievements in supporting members during critical times.