The General Insurance Association of Japan (GIAJ) is inviting nominations for the 36th Advanced Course of The Insurance School (Non-Life), 2026, focused on building resilient and sustainable insurance strategies. Open to next-generation insurance leaders, with 2 slots for the Philippines (1 for PIRA and 1 for IC).​ Key Dates: • Application submission to PIRA: Feb. 20, 2026 • Online sessions: May 27 – June 2, 2026 • In-person sessions: June 10 – 16, 2026 (Tokyo, Japan) Nominees must attend both online and face-to-face sessions.

The industry-supported Actuarial Project on Tariff Rates has entered the data collection phase, with companies preparing to extract and upload their seven-year data ahead of the actuarial analysis. Coordinated by PIRA with the Insurance Commission, actuarial experts, and member companies, the project aims to modernize tariff structures for Motor Car, Property, and Surety lines using a more data-driven and sustainable approach. Data tools are undergoing final security testing, with the project set for completion in the first half of 2026 and the release of a new Tariff Manual.

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) in the Philippines. “The DA wants to encourage private insurers to engage in agricultural insurance,” Israel Q. Dela Cruz, business development and marketing department manager at the Philippine Crop Insurance Corp. (PCIC), told BusinessWorld in an interview. “At the moment, PCIC is the only main agricultural insurer, along with two other private insurers,” he added. The proposed co-insurance pool will allow private insurers and the PCIC to jointly offer standardized insurance products while sharing risks and operating costs through a common platform. The program is modeled after agricultural insurance pool schemes such as Spain’s Agroseguro and Turkey’s Agricultural Insurance Pool or TARSİM, but PCIC said the Philippine version will not operate as a separate legal entity and instead function as a coordinating mechanism. The DA is expecting at least five private insurers to join the program, although more than 10 companies have already expressed interest during consultations, Mr. Dela Cruz said. The co-insurance program aims to benefit around 750,000 farmers by the time it concludes in 2030. It will be funded through $70 million in World Bank loan proceeds over five years. Part of the funding will be allocated to a “firs t loss” facility to absorb early claims and reduce private insurers’ risk exposure as they enter the sector. “That means if there are payouts in the first year, they will be covered by the program. Of course, private insurers tend to hesitate, especially in the agricultural insurance business, because they may fear having to pay out large claims right away,” Mr. Dela Cruz said. A portion of the budget will also cover partial premium subsidies for selected farmer segments and startup and operating costs. Meanwhile, Mr. Dela Cruz said a pool manager will be selected to oversee the scheme’s operations, including supervising a technical support unit that will handle underwriting, marketing, claims assessment, financial management, and organizational functions. “Options currently being explored for the pool manager include the National Reinsurance Corp., PCIC, or a private sector insurer,” the World Bank said in an earlier project document. Personnel from the PCIC and participating private insurers are expected to be assigned to the technical support unit, which will serve as the operational arm of the pool. The DA is also setting up an agri-risk management office that will study appropriate subsidy levels and guide risk analysis for the program, including determining how much premium support may be provided to eligible farmer segments. Mr. Dela Cruz said preparatory work is ongoing, including drafting product designs, forming committees, and preparing terms of reference, but full implementation will depend on the approval of the program loan. “Since it’s a program loan, it has to be approved by the Department of Economy, Planning, and Development. Only then can we start the project,” he said. Mr. Dela Cruz said the government is targeting approval around June or July, with operations expected to begin soon after. Source: www.bworldonline.com

PIRA is the umbrella organization representing the collective interests of the non-life insurance industry in the Philippines since 1954. UPDATES Industry-Supported Actuarial Project Moves into Data Collection Phase The General Insurance Association of Japan (GIAJ) is inviting nominations for the 36th Advanced Course of The Insurance School (Non-Life), 2026, focused on building resilient and sustainable insurance strategies. Open to next-generation insurance leaders, with 2 slots for the Philippines (1 for PIRA and 1 for IC). Key Dates: • Application submission to PIRA: Feb. 20, 2026 • Online sessions: May 27 – June 2, 2026 • In-person sessions: June 10 – 16, 2026 (Tokyo, Japan) Nominees must attend both online and face-to-face sessions. Call for Nominations | 2026 Japan Insurance Advanced Course The industry-supported Actuarial Project on Tariff Rates has entered the data collection phase, with companies preparing to extract and upload their seven-year data ahead of the actuarial analysis. Coordinated by PIRA with the Insurance Commission, actuarial experts, and member companies, the project aims to modernize tariff structures for Motor Car, Property, and Surety lines using a more data-driven and sustainable approach. Data tools are undergoing final security testing, with the project set for completion in the first half of 2026 and the release of a new Tariff Manual. INDUSTRY NEWS DA to set up Philippines’ first agri-insurance pool Read More Rising demand for protection pushes insurance premiums past new milestone in 2025 Read More Member Companies To play, press and hold the enter key. To stop, release the enter key.

Industry News DA to set up Philippines’ first agri-insurance pool 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 8 minutes ago Rising demand for protection pushes insurance premiums past new milestone in 2025 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 5 days ago Aon appoints new CEO 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 Feb 5 Two Asian cyber-attacks in Tokio Marine HCC's top 10 cyber incidents for 2025 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 Feb 4 Philippines builds insurance buffer as climate shocks intensify across Asia 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 Jan 27 Nearly 3m Filipino farmers and fishermen to get insurance cover 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 Jan 27 1 2 3 4 5 February 2026 (5) 5 posts January 2026 (5) 5 posts December 2025 (3) 3 posts November 2025 (9) 9 posts October 2025 (14) 14 posts September 2025 (7) 7 posts August 2025 (16) 16 posts July 2025 (23) 23 posts June 2025 (18) 18 posts May 2025 (17) 17 posts April 2025 (22) 22 posts March 2025 (30) 30 posts

NEWS PIRA Updates View Industry News View Interviews View OPINION