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Philippines tag returned 246 results

  • AXA hit by ransomware attack in Asia

    AXA has revealed that several of its Asian businesses were hit by a 'targeted ransomware attack'. The hackers have claimed to have seized a large amount of sensitive data in the attack, which affected AXA's operations in Thailand, Malaysia, Hong Kong and the Philippines.

    AIRPlus | 18 May 2021
  • Philippines: Govt likely to have met microinsurance target 2 years ahead of schedule

    More Filipinos were covered by microinsurance last year, with the total estimated number of lives covered reaching 50.35m at 31 December 2020, an 11.56% increase from the 45.13m lives covered 12 months previously, according to data from the Insurance Commission.

    Asia | 13 May 2021
  • Asia's life insurance industry celebrates wide spectrum of awards finalists

    Judges gathered online on the 6 May 2021 to deliberate and vote on worthy winners drawn from an impressive shortlist in the final round of judging for the 6th Asia Trusted Life Agents & Advisers Awards.

    Agents | 06 May 2021
  • Philippines: Nat Re earns US$2.5m in net profit in 2020

    The National Reinsurance Corporation of the Philippines (Nat Re), the country's national reinsurer, has announced that it earned PHP120m ($2.5m) in net income in 2020, down 24% from PHP157m in 2019, as stronger underwriting results were weighed down by lower investment income.

    Asia | 07 May 2021
  • Philippines: Insurance industry's net income falls 8.6% in 2020 to US$858m

    The Philippine insurance industry posted an 8.6% fall in net income to PHP41.24bn ($858m) last year, compared to PHP45.12bn in 2019, due to the impact of the COVID-19 pandemic, according to the 2020 Industry Performance report released by the Insurance Commission.

    Asia | 05 May 2021
  • Philippines: Sun Life and Prudential Guarantee remain insurance leaders in 2020

    The Insurance Commission (IC) has revealed that Sun Life Canada (Philippines) and Prudential Guarantee and Assurance Inc (PGAI) remained the highest-ranked life and non-life insurance company, respectively, in terms of premium income in 2020.

    Asia | 27 Apr 2021
  • Philippines: Non-life insurers to establish catastrophe insurance facility

    The non-life industry has been directed to implement sustainable catastrophe insurance premium rates and formally establish the Philippine Catastrophe Insurance Facility (PCIF), according to a circular issued by Insurance Commissioner Dennis Funa, dated 12 April.

    Asia | 21 Apr 2021
  • Philippines: Insurance law amendment Bill tabled in Senate

    A Bill seeking to introduce amendments to the insurance law and place the Insurance Commission (IC) under the supervision of the Bangko Sentral ng Pilipinas has been filed in the Senate.

    Asia | 20 Apr 2021
  • Philippines: Govt urged to reduce tax on non-life insurance

    The government should lower the tax rate, of 26-27%, on non-life insurance, including that for crop or agriculture insurance, to around the rate on life insurance, which is 2%, according to Mr Jaime Aristotle Alip, chairman emeritus and founder of the country's largest microfinance firm CARD MRI (Centre for Agriculture and Rural Development - Mutually Reinforcing Institutions).

    Asia | 09 Apr 2021
  • Philippines: Non-life insurance market outlook backed by long-term growth prospects

    AM Best has assigned a stable market segment outlook to the Philippine non-life insurance market, underpinned by long-term growth prospects and positive regulatory developments.

    Asia | 22 Mar 2021

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