Philippine insurance premiums surpassed the P500-billion mark for the first time in 2025 on wider product access and a growing demand for financial protection among Filipinos.
Data from the Insurance Commission showed total premiums reached P502.64 billion at the end of 2025, representing a 14.10-percent increase from P440.53 billion in 2024.
The life insurance sector accounted for the largest share of the market at 80.22 percent and paid out P121.88 billion in benefits.
The non-life sector contributed 16.41 percent of the total at P34.05 billion, while mutual benefit associations made up the remaining 3.37 percent.
Insurance penetration, or the industry’s contribution to the economy, improved to 1.79 percent as insurance density rose to P4,414.58, marking a decade high.
The industry’s total assets grew 7.93 percent to P2.66 trillion, supported by P2.38 trillion in invested assets.
Total liabilities rose 7.54 percent and benefit payments increased 2.37 percent. The sector’s net income climbed 15.10 percent to P64.79 billion.
Insurance Commission said the industry remains well-positioned to sustain growth and expand its contribution to economic development and financial protection.
“This financial resilience further strengthens confidence that insurers can continue supporting beneficiaries when they need it most,” the agency said.
