The Insurance Commission (IC) has announced that the net income of the insurance industry, comprising life and non-life insurance companies and mutual benefit associations (MBAs), reached PHP48.46bn ($848m) in 2023, 3.8% higher than the PHP46.69bn chalked up in 2022.
The AIA Group has launched "AIA CAN: An Eco-Office Movement" (AIA CAN) - a large-scale, multi-year programme that seeks to empower over 25,000 employees across 18 markets to adopt environmentally conscious mindsets, attitudes and behaviours to create more sustainable workplaces and a healthier planet.
Digital insurer Singlife Philippines has secured funding of PHP600m ($10.67m) from its parent and majority shareholder, Singapore Life Holdings (Singlife or the Group).
The Cebu Provincial Board (PB) has approved an ordinance establishing Sugbo Segurado, an accident and life insurance plan for all qualified provincial officials and regular employees, job-order and contractual workers, and co-terminus workers of the provincial government of Cebu.
The Philippine Insurance Commission (IC) has issued a circular, mandating insurance and reinsurance companies to adopt Philippine Financial Reporting Standard 17 (PFRS17) on insurance contracts, which is aligned with IFRS17.
Member companies of the Philippine Life Insurance Association (PLIA) have elected Mr Richard Lim as president. He is also Sun Life Grepa president.
A new analysis of 36 countries/markets by Swiss Re Institute ranks the Philippines as the most economically exposed among them today, where hazard intensification is likely to occur due to climate change.
The Insurance Commission (IC) is planning to grant incentives to new microinsurance players to boost financial inclusion in the Philippines.
The lnsurance Commission (IC) has revised the death indemnity limit for third-party liability for all Compulsory Motor Vehicle Liability lnsurance (CMVLI) coverage to PHP200,000 ($3,558) each for all types of motor vehicles.
The Insurance Commission (IC) and the Actuarial Society of the Philippines (ASP) have agreed to conduct the country's first industry-wide morbidity study based on the claims experience of health maintenance organisations (HMOs) and insurance companies.