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.