A new study in the Philippines has revealed that the total health spending in the country had reached PHP1.4tn ($23.81bn) in 2024, which translates to about 5% of the country's GDP. According to a news report published in the Philippine daily Inquirer, the study conducted by the Philippine Institute for Development Studies (PIDS) found that the public spending drove most of this growth through the Department of Health, the Philippine Health Insurance Corporation and local gov

Southeast Asia may soon have an insurance programme for rebuilding damaged infrastructure following natural catastrophes. This was announced by the Philippine Department of Finance (DOF) after the 8th Technical Meeting of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) held in Kyoto, Japan, in October. The DOF said member countries at the meeting agreed to explore the creation of the SEA|DRIF Sovereign Asset and Fiscal Empowerment (SEADRIF-SAFE) facility. The in

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Mr Reynaldo A Regalado, Insurance Commissioner of the Philippines, has been elected as the chairman of Asian Reinsurance Corporation...