The Philippine Health Insurance (PhilHealth) has expanded the coverage of its benefit packages for heart diseases by as much as 1,629%. The enhanced benefit packages have come into effect from 2 January 2025. The details have been notified vide its circular 2024-0032 issued on 21 December 2024.
The health maintenance organisation (HMO) sector in the Philippines chalked up losses of PHP4.269bn ($75m) in 2023, nearly triple the losses of PHP1.433bn in 2022, due to a substantial increase in claims and benefits paid, says a report released by WTW, a leading global advisory, broking and solutions company.
Pru Life UK was the grand winner of the 2024 United Nations (UN) Women Philippines Women's Empowerment Principles (WEPs) Awards in the Gender-Responsive Marketplace category.
Global insurer Generali has reached an agreement on the sale of its 100% stake in Generali Life Assurance Philippines, to The Insular Life Assurance Company, the largest insurance company in Italy announced last week.
Oona Insurance has appointed Mr Praveen Paladugu as group head of agency distribution. In his new role, he will oversee agency distribution channels across Indonesia and the Philippines, with a mandate to elevate agent performance, align distribution efforts with corporate objectives and ensure agents are well-equipped to thrive in a rapidly evolving insurance industry.
Pru Life UK led the insurance industry in terms of new business annualised premium equivalent (NBAPE) in the third quarter.
The Insurance Commission (IC) has updated guidelines for investments in infrastructure projects under the Philippine Development Plan (PDP).
The Insurance Commission (IC) is seeking other agencies to oversee the health maintenance organisation (HMO) sector.
Pru Life UK has rolled out a short-payment term investment-linked insurance product for Filipinos looking for alternative ways to grow their resources.
National Reinsurance Corporation's (Nat Re) strong business growth in non-property lines during 2023, mainly driven by the acquisition of foreign agriculture treaties, is viewed to support business diversification; however, effective underwriting risk management remains crucial, says AM Best.