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Philippines tag returned 129 results

  • Philippines: New claims adjusters need endorsement from industry associations

    All applications for new loss adjusting licences must be endorsed by either the Association of Philippine Adjustment Companies (APAC) or Philippine Institute of Loss Adjusters (PILA), the Insurance Commission has said.

    Asia | 24 Jun 2019
  • Mutual microinsurance helps vulnerable communities: Study

    Mutual microinsurance has the potential to build financially literate, insurable and resilient communities, according a new study from the University of Cambridge Institute for Sustainability Leadership (CISL). For the first time, the study analysed how mutual microinsurance, a community-owned model of insurance, contributes to the recovery outcomes of low income households following a natural disaster. The CISL report was launched on 21 June 2019 at the Insurance Development Forum (IDF) in Singapore.

    Asia | 21 Jun 2019
  • Willis Towers Watson names Augusto Hidalgo as new head of capital, science and policy in Southeast Asia

    Willis Towers Watson has announced that that Augusto Hidalgo has just joined Willis Towers Watson as head of capital, science and policy in Southeast Asia.

    People | 31 May 2019
  • Philippines: Govt co-op to cover at-risk farms amid deadly animal disease outbreak

    With the Philippines facing the threat of deadly avian influenza (AI) and African swine fever (ASF) outbreaks, local swine and poultry farms receive some relief as they are now able to claim indemnity insurance from the government if their farms are hit by these two animal diseases.

    Asia | 30 May 2019
  • Philippines: Govt eyes turning crop insurer into reinsurer

    The Department of Finance (DOF) supports converting the state owned Philippine Crop Insurance Corp (PCIC) into a reinsurer.

    Asia | 28 May 2019
  • Philippines: Govt targets 50m Filipinos to have micro insurance by 2022

    The government aims to have at least 50m Filipinos covered by microinsurance in the next four years, reported the Philippine News Agency. The coverage seeks to provide protection and financial security especially in times of calamities.

    Asia | 22 May 2019
  • Philippines: Insurers see lower risk charges on infrastructure investments

    The Philippines' Insurance Commission (IC) has lowered the capital charges for investments made in infrastructure projects, reported local publication The Philippine Star. The move intends to spur insurers to participate in the state's significant infrastructure development efforts, and comes after the publication of IC Circular Letter No. 2019-19 which was recently signed by Insurance Commissioner Dennis Funa who said the move was announced following "the clamour of the insurance industry."

    Asia | 22 May 2019
  • Philippines: Philam Life tops net worth ranking of life insurers

    Philam Life reported the highest net worth amounting to PHP78.87bn ($1.51bn) among all life insurers in the Philippines, according to the lnsurance Commission's recently released rankings. This record comes amidst regulations stipulating that existing insurers in Philippines are required to increase their respective net worth exponentially to PHP900m by end-2019, and to at least P1.3bn by end-December 2022. The existing minimum net worth currently stands at PHP550m and insurers have been reported to be struggling to meet the upcoming requirements.

    Asia | 13 May 2019
  • Philippines: AIA invests nearly $58m in local subsidiary

    AIA Group has announced plans to invest PHP3bn ($57.68m) in its Philippine subsidiary over the next three years, reported The Philippine Star. The Philippine American Life and General Insurance Company (Philam Life) will use the investment amount to develop its distribution and expand its business reach.

    Asia | 07 May 2019
  • Philippines: British life insurer tops corporate governance score for two consecutive years

    The 2018 ASEAN Corporate Governance Scorecard (ACGS) has ranked Pru Life UK, a subsidiary of Prudential, as the first among all 116 insurers and mutual benefit associations in the Philippines. The British life insurer tallied the highest score of 105.10 points out of the maximum score of 128 and improved in all criteria, posting a 3.62 point-increase from ACGS's 2017 assessment. Pru Life UK had also topped the ACGS in 2018.

    Asia | 06 May 2019

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