The Philippine Health Insurance Corporation (PhilHealth), the state insurer of the Philippines, has reported paying more than PHP300bn ($5.07bn) in benefit claims across the country in 2025.
The Philippines has long been exposed to climate hazards, from typhoons to floods and earthquakes, due to its geographical location. While the insurance market is stronger than a decade ago, extreme events still test claims operations and the resilience of weaker carriers. To address this, Southeast Asia is developing innovative risk-financing solutions that the Philippines can adopt or scale, says the Philippine Insurers and Reinsurers Association (PIRA) Executive Director, Michael Rellosa.
Philippines state-run Philippine Health Insurance Corporation (PhilHealth) is under scrutiny for weak anti-fraud safeguards according to a study conducted by the Philippine Institute for Development Studies (PIDS).
Philippine President Marcos has signed the country's PHP6.793tn ($121.3bn) national budget for 2026, restoring government subsidy to the state insurer, the Philippine Health Insurance Corporation (PhilHealth). The signing was held on 5 January at Malacañang Palace.
Vitarich Corp. announced on Monday that it has signed a PHP400m ($7.1m) compromise agreement with AXA Philippines Life and General Insurance Corp to resolve a long-standing dispute related to damages from Typhoon Ondoy in 2009.
Philippine life insurer Sun Life Grepa and rural bank Top Bank Philippines have signed a partnership agreement to provide financial solutions to micro, small and medium enterprises (MSMEs), agri-professionals, and other group clients.
The total premium income of the Philippine pre-need industry reached PHP17.52bn ($313m) in the first three quarters of 2025, up by 3.92%, compared to the corresponding period last year, according to data from the Philippine Insurance Commission (IC) released on 6 December 2025.
The net income of health maintenance organisations (HMOs) in the Philippines tripled in the third quarter of 2025, reaching PHP?2.44bn ($41.4m) from PHP?800.9m recorded in the same period last year.
A new study in the Philippines has revealed that the total health spending in the country had reached PHP1.4tn ($23.81bn) in 2024, which translates to about 5% of the country's GDP.
Filipino farmers have received an initial insurance payout of around PHP571.3m (US?$9.67?m) from the country's Crop Insurance Corporation to accelerate recovery from the effects of recent storms, Fung-wong and Kalmaegi.