The Philippines' Insurance Commission (IC) recorded a near 90% increase in its fines and penalties collection in 2025, with the agency attributing the rise to intensified efforts to enforce compliance and strengthen oversight of regulated entities. The IC collected a total of PHP87.72m ($1.47m) in fines and penalties last year, representing an 86.21% increase from 2024. Despite stricter enforcement, the Philippine insurance industry sustained its expansion, with total assets

The heads of the International Energy Agency, International Monetary Fund, and World Bank Group have agreed to form a coordination group to maximise their institutions' response to the energy and economic impacts of the war in the Middle East. The institutions said in a joint statement, “At these times of high uncertainty, it is paramount that our institutions join forces to monitor developments, align analysis, and coordinate support to policymakers to navigate this crisis.

The Young ASEAN Insurance Manager Award (YAMA), organized by AITRI in collaboration with the ASEAN Insurance Council , is now accepting nominations for its 2026 edition. Finalists will be interviewed in Bali, Indonesia in November , where the winner will be announced. Eligibility at a glance: ASEAN national, 40 years old or younger At least 5 years in the insurance industry Currently in a managerial role 📅 Deadline for submission to PIRA: 29 April 2026   Nominations go throu

Leading finance and insurance government agencies in the Philippines have teamed up to strengthen cybersecurity in the insurance industry. The Insurance Commission (IC), the Bureau of the Treasury (BTr), Government Service Insurance System (GSIS), the Philippine Deposit Insurance Corporation (PDIC), and the Land Bank of the Philippines, signed a memorandum of agreement on a shared cyber defense solution for the insurance cluster, according to a statement released by the IC. T

The Philippines has secured its largest-ever loan from the World Bank, with the Washington-based multilateral lender approving $1 billion on Friday, March 27. This funding will support the Philippines Sustainable Agricultural Transformation Project (PSAT), which will be implemented by the Department of Agriculture (DA) and is expected to benefit at least five million farmers nationwide. PSAT aims to boost agricultural productivity, promote diversification, and enhance the cli

The Philippines' insurance regulator, the Insurance Commission (IC), Bureau of the Treasury, Government Service Insurance System, Social Security System, Philippine Deposit Insurance Corporation and the Landbank of the Philippines have signed a Memorandum of Agreement (MOA) on a shared cyber defence solution for the insurance cluster In line with the directives of the Department of Finance, the solution is intended to enhance the agencies’ capability to detect, prevent and re