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.
Total net income in the life sector increased by 15.11% to PHP46.32bn in 2025 from PHP40.24bn in 2024.
Total premiums climbed by 14.54% to PHP403.21bn in 2025 from PHP352.02bn in 2024. The life insurance segment accounted for 80.77%, or PHP403.21bn, of the PHP499.23bn in total premiums across the entire insurance industry during 2025.
Life insurers also paid out PHP121.88bn in benefits in 2025, reflecting their role in providing financial protection to policyholders.
The Insurance Commission reported that total assets of the life insurance sector stood at PHP2.09tn at the end of 2025, marking an 8.54% increase from PHP1.93tn 12 months previously.
Despite an 8.19% rise in total liabilities, the industry’s overall financial position strengthened. Total net worth grew by 10.58% to PHP310.72bn at the end of 2025, compared with PHP80.99bn recorded at the end of 2024.