SEADRIF Insurance Company and the Food and Agriculture Organization of the United Nations (FAO) have launched an anticipatory drought insurance pilot in the Lao People's Democratic Republic (Lao PDR). This marks the first time a Southeast Asian government has secured pre-arranged financing designed to activate ahead of drought impacts. The pilot provides the Lao Ministry of Finance with access to payouts triggered by early warning data indicating elevated drought risk, before

The Philippines' finance chief is being sued over the alleged diversion of funds from the country's state insurance institutions to the national treasury. The charges were filed by health reform advocate and former adviser to the Department of Health, Dr Tony Leachon. He filed plunder and technical malversation cases before the Office of the Ombudsman against Finance Secretary Ralph Recto over the PHP60bn ($1bn) diversion of funds from PhilHealth reserve funds and PHP107bn fr

As it continues the liquidation process, The Philippines' insurance regulator, the Insurance Commission, has revealed that Danvil has paid out over PHP1.62bn ($26.31m) in claims. According to a statement from the Insurance Commission, this represents payment to 17,274 claims during Danvil’s liquidation and 15 claims after the formal closure of liquidation proceedings on 6 March 2026. Pre-need firm Danvil was placed under conservatorship on 14 October 2010 and was subsequently

The Philippine Health Insurance Corporation (PhilHealth) has paid out PHP143.22bn ($2.32bn) in benefit claims nationwide from 1 January 2026 to 30 Apri, 2026, marking a 56.15% increase compared to the PHP91.72bn released during the same period last year, reported the Philippine News Agency. PhilHealth said the increase in benefit payments reflects the state insurer’s continued effort to expand health coverage and improve access to medical services for Filipinos. Data showed t

PIRA is pleased to invite its members to participate in the BRIDGE Sustainable Finance Training Programmes, supported by the ASEAN-UK Green Transition Fund. These complimentary sessions are designed to deepen our understanding of climate strategy and sustainable investment. Two distinct tracks are available: 1. Championing Sustainable Finance for Executive Impact Target: C-Suite and Senior Executives Format: Two virtual half-day sessions (3:00 PM – 6:30 PM GMT+8) Dates: Coho

The Philippines and the United Arab Emirates are working toward establishing a formal health insurance arrangement that would extend coverage to Filipino workers in the Gulf state, according to the Department of Health. It is said that the initiative marks a significant step in enhancing protection for one of the Philippines’ largest overseas worker populations. The talks are part of the Philippines President Marcos Jr. administration’s broader push to strengthen the welfare

The Philippine Insurance Industry reported a stable performance in the first quarter of 2026, according to data from Manila's Insurance Commission (IC), supported by continued growth in premiums, invested assets, and benefit payments. Total benefit payments reached PHP43.44bn ($776m), higher than PHP39.01bn in the same period last year, reflecting stronger insurance uptake and continued claims support for policyholders. Total assets rose to PHP2.65tn from PHP2.48tn, while tot

Solid growth and unwavering trust! The Philippine insurance industry entered the year stronger than ever, driven by rising protection awareness and a highly resilient non-life sector. Securing the future of Filipinos, one policy at a time. Preliminary data from the Insurance Commission shows that in the first quarter alone, the industry paid out ₱43.44 billion in benefits to policyholders and beneficiaries — up from ₱39.01 billion in the same period last year. At the same ti