The Philippine pre-need industry posted double-digit growth at the end of 2025, with total net worth reaching PHP33.87bn ($577.26M), a figure 21.04% higher than that recorded a year earlier. Data from the Philippine Insurance Commission also showed retained earnings increasing by 39.57%, accounting for 73.48% of total net worth.
Global trade credit risk management group Coface has forecast global growth of 2.6% this year, a slight easing from 2.8% in 2025. The forecast was made before 28 February when the US-Israel vs Iran military conflict began.
The majority of Asia's middle class feel financially anxious and underprepared for retirement, as rising living costs and growing family responsibilities reshape financial priorities across generations.
The Philippines needs to overhaul its insurance framework by mandating home coverage and incentivising disaster-resilient construction, the Organization for Economic Cooperation and Development (OECD) says.
The total premiums of the Philippine insurance industry breached the PHP500bn ($8.6bn) mark in 2025, driven by consumers' increasing focus on long-term protection despite economic uncertainties.
The Philippine life insurance industry saw steady growth in 2025, thanks to rising insurance penetration, higher premiums and improving profitability. Data from the Insurance Commission (IC) show that, insurance penetration in the Philippines increased to 1.78% in 2025 from 1.67% in 2024, with insurance density reaching a record high of PHP4,384.56 ($74.54), up from PHP3,894.03 a year earlier.
Aon has appointed Mr Karl Hamann as CEO of the Philippines, effective 1 April 2026 and subject to regulatory requirements.
The Philippine Competition Commission (PCC) has greenlighted the merger of two prominent non-life insurers, FPG Insurance and The Mercantile Insurance Company. The competition regulator said in a statement that it had found the transaction would not affect competition in the local non-life insurance market.
Nearly 3m Filipino farmers and fishers are expected to benefit from expanded government-backed insurance coverage following a significant budget increase, the Department of Agriculture (DA) said.
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.