THE Philippine insurance industry saw its net income

THE Philippine insurance industry saw its net income falling by 8.6 percent to P41.24 billion last year as the sector had to grapple with the impact of the Covid-19 pandemic.


Based on the 2020 Industry Performance Report uploaded by the Insurance Commission, the insurance sector’s net income last year dropped from P45.12 billion in 2019.


Premium income of the insurance industry in 2020 inched up by 1.18 percent to P308.25 billion from previous year’s P304.65 billion

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