The Philippine insurance industry’s penetration rate rose to 2.03 percent in the first quarter of 2026 from 1.89 percent a year ago on sustained growth in assets, premium collections and benefit payments, data from the regulator showed.
Preliminary data from the Insurance Commission (IC) showed that total premiums rose 13.15 percent to P140.85 billion in the first three months of the year from P124.48 billion recorded in the same period in 2025.
Industry assets grew 6.85 percent year-on-year to P2.65 trillion from P2.48 trillion, while invested assets climbed 8.22 percent to P2.37 trillion in the January-to-March period.
Total benefit payments increased 11.36 percent to P43.44 billion from P39.01 billion in the first quarter of 2025. However, these higher payments led to a 1.75-percent decline in net income.
Meanwhile, insurance density, which measures the average insurance spending of individuals, rose to P1,231.61 as of end-March.
The regulator said the continuous expansion reflected the industry’s capacity to meet policyholder obligations and support claims.
“Amid prevailing economic challenges, the insurance industry remains firmly positioned to meet policyholder needs and deliver on its commitments with stability and resilience,” Insurance Commissioner Reynaldo Regalado said.
