Gov't allows new investment schemes for insurers

The government has expanded the allowable investments for the insurance industry to ensure growth amid a dynamic market environment.

- By LOUISE MAUREEN SIMEON

In its latest circular letter, the Insurance Commission (IC) released new omnibus guidelines on investments among insurance companies, reinsurers and mutual benefit associations.

IC chief Reynaldo Regalado said there is a need for prudent management of investments by insurance entities to ensure financial stability.

"We aim to enhance their investment adaptability to respond to the dynamic investment market environment," Regalado said.

"We also aim to empower our regulated entities to make well-informed investment decisions with the goal of ensuring the stability and growth of their respective financial assets while safeguarding the interests of their policyholders," he said.