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.
What is the propensity to commit fraud in insurance?
Manulife China Bank Life Assurance Corp (MCBL), the bancassurance partnership between Manufacturers Life Insurance (Phils) Inc (Manulife Philippines) and China Banking Corp, has launched an insurance plan offering life protection with guaranteed cash payouts.
Insular Life (InLife) and Singapore-headquartered Oona Insurance Group (Oona) have announced jointly that they are entering into an agreement, with InLife selling its 40% stake in their non-life insurance joint venture, Oona Insular Insurance Corporation (Oona Philippines), making it Oona's fully owned subsidiary.
The Government Service Insurance System (GSIS) is working with the Japan International Cooperation Agency (JICA) to improve the protection of public properties and assets against disasters.