The Philippine insurance industry saw a 13.25-percent increase in total premiums collected in the third quarter of 2025 on the back of higher sales of traditional and variable life insurance products, the Insurance Commission (IC) said.
Data showed that total premiums rose to P372.08 billion as of end-September, marking a P50-billion increase from P328.55 billion recorded in the same period last year.
Premiums for life insurance products grew 13.77 percent to P299.45 billion, while premiums for non-life insurance products increased 13.07 percent to P60.07 billion.
The growth was fueled by a 9.7-percent increase in traditional life insurance products and a 16.0-percent rise in variable life insurance products.
Mutual benefit associations also collected P12.57 billion in total contributions, a 2.86-percent rise compared to the previous year.
The total assets of the insurance industry climbed to P2.62 trillion as of end-September, with invested assets expanding to P2.32 trillion.
“The accelerating growth in total premiums and other key statistical indicators underscores not only the increasing trust and recognition of the vital role insurance plays in economic resilience but also the stronger awareness among Filipinos on the value of financial protection,” said Insurance Commissioner Reynaldo Regalado.
Insurance penetration, or the ratio of premiums to gross domestic product, climbed to 1.85 percent in the third quarter of 2025.
Insurance density, or the ratio of total premiums to the population, also grew 12.30 percent to P3,267.91 per capita, as the rise in total premiums outpaced population growth.
