News Life and Health13 May 2019

Philippines:Philam Life tops net worth ranking of life insurers

Philam Life reported the highest net worth amounting to PHP78.87bn ($1.51bn) among all life insurers in the Philippines, according to the lnsurance Commission's recently released rankings. This record comes amidst regulations stipulating that existing insurers in Philippines are required to increase their respective net worth exponentially to PHP900m by end-2019, and to at least P1.3bn by end-December 2022. The existing minimum net worth currently stands at PHP550m and insurers have been reported to be struggling to meet the upcoming requirements.

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