IC Extends Deadlines for Reportorial Requirements

The Insurance Commission (IC) has stepped up in support of its regulated entities by granting extended deadlines on key reportorial requirements under Circular Letter No. 2026-10, dated 06 May 2026.

This regulatory relief comes in response to Executive Order No. 110, s. 2026, issued by the President of the Philippines, which declared a State of National Energy Emergency following geopolitical conflicts in the Middle East that have disrupted global oil production and transportation. The E.O. called on all government agencies to implement responsive and coordinated measures to address the impact of the global energy crisis on the domestic economy — and the IC has answered that call.

As the primary regulator of the insurance, pre-need, and HMO sectors, the IC recognizes the adverse operating conditions currently faced by its regulated entities and has taken a proactive step to ease compliance burdens during this challenging period.

What this means for Non-Life Insurance and Professional Reinsurance Companies:

Among the extended deadlines is one of the most significant annual compliance requirements — the filing of 2025 Annual Statements.

Original deadline: 30 April 2026

New deadline (without penalty): 1 June 2026

Submissions made on or before the extended due dates will not incur penalties under CL No. 2014-15 (Fees and Charges).

This move reflects the IC's commitment to being a responsive and industry-sensitive regulator — one that balances the need for regulatory compliance with the realities faced by the industry on the ground. It is a welcome demonstration of government and regulatory solidarity with the private sector during times of national emergency.

The Philippine Insurers and Reinsurers Association (PIRA) commends the Insurance Commission for this timely and meaningful relief measure. We encourage all member companies to take note of the extended deadlines and to refer to Annex A of CL No. 2026-10 for the complete list of covered reportorial requirements.

For inquiries, please reach out to your compliance officers or visit the IC website at www.insurance.gov.ph.