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Insurers post strong Q1
Manila Bulletin
|May 22, 2025
The Philippine insurance industry posted solid growth in the first quarter of 2025, with both life and non-life sectors showing strong performances, according to the Insurance Commission (IC).
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Life insurers' total premium income rose by 13.9 percent to P99.9 billion, driven largely by a 53.7-percent surge in single premiums under variable life insurance.
Of the total, 67.7 percent came from variable life insurance, while traditional life insurance premiums slightly declined by 0.9 percent.
The industry's net income grew by 12.2 percent to P10.8 billion, supported by higher underwriting income and a 7.2-percent drop in benefit payments.
Despite a 46-percent decline in investment income, the sector's profitability was buoyed by a 15.2-percent rise in total underwriting income.
This story is from the May 22, 2025 edition of Manila Bulletin.
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