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Philippines tag returned 122 results

  • 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
  • RMS updates risk models for Asia Pacific earthquake

    RMS has released new views of earthquake risk in Taiwan and in six countries across Southeast Asia, as well as an update to its view of hurricane risk across the hurricane-impacted countries in the North Atlantic basin. The models will be delivered on version 18.1 of RiskLink and RiskBrowser, RMS' industry-leading risk management software.

    Asia Risk | 01 May 2019
  • Philippines: Non-life insurers ready to merge to meet capital requirements

    At least four non-life insurers are expected to merge before the end of this year in order to meet the increased capital requirement set by Philippines' Insurance Commission (IC), according to Philippine Insurers and Reinsurers Association (PIRA) chairman Allan R. Santos as reported by local business newspaper BusinessWorld.

    Asia | 30 Apr 2019
  • Southeast Asia: Developing drought resilience is the call of the hour

    With the ongoing drought crisis in Southeast Asia, a recent joint study by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Association of Southeast Asian Nations (ASEAN) urged Southeast Asian nations to take immediate action. They are encouraged to build drought resilience to cope with the increased frequency and intensity of future drought situations in parts of the region.

    Asia | 26 Apr 2019
  • Philippines: Farmers receive respite from El Niño related losses

    Filipino farmers with insured crops and fishermen affected by the El Niño phenomenon can now file for indemnity claims with the Philippine Crop Insurance Corporation (PCIC) to cover their losses, according to a report from the Philippine Daily Inquirer. The El Niño phenomenon greatly affected agriculture and aquaculture farms in Phillipine's Cebu province last month causing wilted crops and killing fish. Since January this year, PCIC has already released PHP77.2m ($1.5m) worth of insurance claims to farmers and fishermen.

    Asia | 25 Apr 2019
  • Allianz names Alexander Grenz as Philippines CEO

    Allianz PNB Life Insurance has appointed Alexander Grenz as its new president and CEO, effective June 01.

    People | 19 Apr 2019
  • Philippines: Microinsurance business expands in 2018

    The Philippine microinsurance sector has posted total premium of PHP8.14bn ($157.2m) at the end 2018, representing an increase of 14.5% from PHP7.11bn in 2017, according to lnsurance Commissioner Dennis B Funa.

    Asia | 17 Apr 2019
  • Filipinos have the lowest retirement savings in Asia

    Most Filipinos lack preparation for their retirement, with average retirement savings to last them for 3.6 months, according to a survey conducted by Manulife. It is the lowest among eight markets in Asia.

    Agents | 15 Apr 2019

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