The Philippine pre-need industry saw its total net worth increase by 12.18% to PHP32.36bn ($528m) at the end of the first quarter of 2026, from PHP28.84bn recorded in the same period last year. Providing context for the increase, Philippine Insurance Commissioner Reynaldo Regalado said: “A significant contributor to this increase was the 18.99% growth in retained earnings, which accounted for 77.74% of the industry’s total net worth. This highlights the industry’s strong earn

Model management took centre stage on the opening day of the 22nd Asia Nat CAT and Climate Change Conference in Makati City, as industry experts discussed how risk models can remain effective in an increasingly complex environment shaped by climate change and cyber threats. During a panel discussion, speakers highlighted the need for greater transparency and understanding of modelling methodologies. JBA Risk Management Technical Director Dr Pradeep Mandapaka stressed the impo

On a Facebook post by the The Watchmen’s Earth and Space Connection, the Manila Trench swarm is a significant scientific event because of where it is occurring, but there is no confirmed indication that a major earthquake is imminent. Scientists will continue monitoring the swarm for changes in magnitude, frequency, and depth that could indicate evolving activity.

Insurance companies and other entities regulated by the Insurance Commission (IC) have been ordered to expedite the settlement of claims in areas declared under a state of calamity following the magnitude 7.8 earthquake that struck Mindanao. The directive from the Philippine insurance regulator requires regulated entities to accelerate the evaluation, approval and payment of claims whenever national or local authorities place an area under a state of calamity. To help affecte

The strong tremor that hit the southern Philippine island of Mindanao is expected to result in limited insured losses due to the country's low insurance penetration, according to a commentary by AM Best. On 8 June, a magnitude 7.8 earthquake rocked Mindanao, killing more than 40 people and causing significant destruction to infrastructure, homes and major roads. AM Best said that while the full scale of insured losses has yet to be assessed, it expects the persistent protecti

Over 2000 facilities under the Guaranteed and Accessible Medications for Outpatient Treatment (GAMOT) package providers nationwide are ready to give GAMOT members 75 essential medicines at no cost, according to the Philippine Health Insurance Corporation (PhilHealth). The free medicines include those for treatment of infections, asthma and chronic obstructive pulmonary disorder, diabetes, high cholesterol, high blood pressure and heart conditions, and nervous system disorders