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

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

Given the low insurance take-up in the Philippines, especially for homes, the insurance industry expects to see a wide divergence between insured and economic losses due to the 7.8 magnitude offshore earthquake that struck the southern part of the country on 8 June 2026. The Philippine Insurers and Reinsurers Association (PIRA) in a communication on 08 June 2026 extended its deepest sympathies to the families, communities, and local governments of Southern Mindanao affected b

The Asian Development Bank (ADB) has approved a $400m policy-based loan to support reforms aimed at raising the efficiency of the Philippines' insurance industry, creating an enabling environment for broader participation in the sector, and helping stimulate stronger economic growth. The Insurance Reform Program, Subprogram 1 supports broader financial sector development reforms in regulation and supervision, including greater intermediation of long-term credit for governme

The Filipino Department of Finance (DOF) has ordered all agencies, government financial institutions, and government-owned and controlled...