The insurance regulator will conduct a study on the impact of the COVID-19 pandemic on mortality trends and life insurers' claims experience.
The Philippine Competition Commission (PCC) has given the AIA Philippines Life and General Insurance Company Inc (AIA) the green light to acquire MediCard Philippines Inc (MediCard).
Local insurers will officially be required to increase their capital to a minimum of PHP1.3bn ($23.3m) by the end of this year, as the government will no longer postpone the implementation of the requirement.
The 10th annual Regional Day of Service (RDS) was organised by insurer Chubb in early November across 10 markets in the Asia-Pacific region through outreach programmes that focused on meeting the essential needs of communities and increasing educational opportunities for underprivileged children.
More foreign companies are likely to enter the insurance market in the Philippines as the deadline looms for the final tranche of required capital increases -- a move that would impact small local insurers.
Local insurers are no longer optimistic about a possible extension of the final tranche of increases in capital requirements beyond the current deadline of 31 December 2022.
yufin, a merchant platform that enables under-served SMEs in emerging markets to access the digital economy, has formed a partnership with Singapore-based insurance provider Gigacover.
Insular Life (InLife), the largest Filipino-owned life insurance company in the Philippines, is entering into a joint venture agreement with Oona Philippines Holding Corporation to jointly own stakes in the general insurer, Mapfre Insular Insurance Corporation (MIIC).
Australia's superannuation system ranked 6th for the second year running, among more than 40 retirement income markets covered in the Mercer CFA Institute Global Pension Index 2022. Australia also ranks highest among Asia Pacific markets.
The insurance industry has already released almost PHP20.82bn ($353m) in total COVID payouts to policyholders who were infected by the virus from the start of the pandemic in March 2020 until end-June this year, according to data from the Insurance Commission (IC).