THE Department of Agriculture (DA), with support from the World Bank, is setting up the country’s first agricultural co-insurance pool to expand private sector participation in agricultural insurance and improve coverage for semi-commercial and commercial farmers. The planned co-insurance pool is part of an $870-million World Bank-supported program that aims to increase access to credit and insurance for farmers, fisherfolk, and agri-micro, small and medium enterprises (MSMEs

The total premiums of the Philippine insurance industry breached the PHP500bn ($8.6bn) mark in 2025, driven by consumers' increasing focus on long-term protection despite economic uncertainties. Data from the Insurance Commission showed that premiums from the life, non-life, and mutual benefit sectors stood at PHP502.6bn at the end of 2025, up by 14.1% from PHP440.5bn in 2024. The life insurance sector remained the driving force of the Philippine insurance industry, accountin

Aon has appointed Mr Karl Hamann as CEO of the Philippines, effective 1 April 2026 and subject to regulatory requirements. In his new role, Mr Hamann will focus on further advancing Aon’s integrated solutions strategy and helping clients navigate increasingly interconnected risks with greater clarity and confidence. He will work closely with regional solution line leaders to align priorities, deepen client engagement and support sustained growth. Mr Hamann brings more than th

Two major cyber-attacks on Asian companies feature in Tokio Marine HCC International's (TMHCCI) annual 'Top 10 cyber incidents report' for 2025. The latest report highlights large-scale ransomware, systemic cloud outages and the first documented AI-orchestrated cyberattack at scale, as operational disruption and supply-chain dependencies continue to amplify financial and business risk across industries. Compiled by TMHCCI’s Cyber Security team, the report highlights how ranso

Southeast Asia stays underinsured, leaning on savings and state aid The Philippines is increasing its insurance buffer against climate-related shocks, with higher penetration, rising property premiums, and a broader mix of catastrophe risk solutions emerging as severe weather events affect Asia. Insurance penetration trends amid regional catastrophe activity According to Aon ’s report, cited by Manila Bulletin , insurance penetration in the Philippines reached 1.85% in the th

Nearly 3m Filipino farmers and fishers are expected to benefit from expanded government-backed insurance coverage following a significant budget increase, the Department of Agriculture (DA) said. Under the 2026 General Appropriations Act, the Philippine Crop Insurance Corp (PCIC) received a PHP6.5bn ($115.8m) allocation, representing a 45% increase from PHP4.5bn in 2025, reported Philippine News Agency. The expanded budget will allow PCIC to insure around 2.93m farmers and fi