Insurance sector logs double-digit premium growth

Insurance penetration in the Philippines increased slightly in the second quarter of 2025, with premium collections from both life and non-life insurance products showing double-digit growth.

The Insurance Commission (IC) reported that the ratio of premiums to GDP rose to 1.8 percent for April through June.

Life insurance led the growth, with total premiums climbing by 12 percent to P195 billion in the second quarter.

Non-life insurance also saw strong performance, recording a 20-percent increase in net premiums written to P39.6 billion.

Total premiums paid by policyholders for life and non-life insurance reached P242.8 billion in the first half of 2025, marking a 13 percent rise from the same period last year.

The industry also reported higher benefit payouts, increasing by 1.18 percent to P77.6 billion.

Despite strong growth in premiums and benefits, net income for the sector grew modestly by 3.6 percent to P28.78 billion.