Philippine insurance market set to grow to €21.4B by 2035
The Philippine insurance market is expected to grow to €21.4 billion by 2035, according to the Allianz Global Insurance Report 2025 released on Tuesday.
Read full story
Insurance Commission
The Insurance Commission (IC) regulates and oversees the Philippine insurance market, ensuring compliance and financial stability among insurers and HMOs. As of May 2025, the IC has placed several companies under conservatorship or liquidation due to capital deficiencies and regulatory non-compliance. The commission also issued new investment guidelines for insurers and proposed extending passenger personal accident insurance coverage to motorcycle taxis.
This is an AI-generated summary based on recent coverage.
Last updated at July 31, 2025.
Recent stories about Insurance Commission
GCash plans Shari'ah-compliant, crop insurance through GInsure
GCash is planning to launch Shari'ah-compliant and crop insurance products through its in-app marketplace GInsure.
Read full story
IC places Getwell Health Systems under conservatorship
The Insurance Commission (IC) has placed Getwell Health Systems Inc., a health maintenance organization, under conservatorship due to its failure to meet government requirements.
Read full story
IC issues new investment guidelines for insurers
The Insurance Commission (IC) has issued Circular Letter No. 2025-09 to provide new guidelines on investments for insurers, reinsurers, and mutual benefit associations.
Read full story
SC upholds Ejercito's graft conviction for illegal insurance contract
The Supreme Court has upheld the graft conviction of former Laguna Governor and Pagsanjan Mayor Emilio Ramon 'ER' Ejercito, known as Jeorge 'ER' Ejercito Estregan, for illegally awarding an insurance contract to an unlicensed company without conducting proper public bidding.
Read full story
Govt plans PPAI for motorcycle taxis, seeks public comments
The government plans to extend passenger personal accident insurance (PPAI) coverage to motorcycle taxis due to their increasing use as an alternative mode of transportation.
Read full story
Pru Life UK aims rapid premium growth through agency expansion
PRU LIFE Insurance Corp. of UK Philippines (Pru Life UK) plans to grow its premiums faster than the industry in 2025, driven by expanding its agency force.
Read full story
Pru Life UK may launch Shariah-compliant Takaful in April
Pru Life UK may introduce its Takaful insurance offering in April if it receives regulatory approval from the Insurance Commission, with executives confirming plans to launch the Shariah-compliant product next month.
Read full story
IC mandates PFRS 17 adoption by insurers by 2027
The Insurance Commission (IC) has mandated that all insurers and reinsurers in the Philippines must adopt the Philippine Financial Reporting Standard 17 (PFRS 17) by January 2027.
Read full story
Chinabank renews bancassurance pact with Manulife for 15 years
China Banking Corp. (Chinabank) has renewed its bancassurance partnership with Manulife Philippines through their joint venture, Manulife Chinabank Life Assurance Corp. (MCBL).
Read full story