Insurance sector posts jump in premiums, profits in 2025
The Philippine insurance industry collected higher premiums in 2025, boosting profits amid sustained demand for life insurance coverage.
Latest data from the Insurance Commission (IC) showed that total premiums reached P499.23 billion last year.
Life insurers accounted for over 80 percent of the total, or P403.21 billion.
Life insurance premiums alone grew 14.54 percent from P352.02 billion in 2024.
These outpaced benefit payments, which totaled P121.88 billion in 2025.
Such a top line growth rate translated into higher profits. The industry’s net income jumped by 15.11 percent to P46.32 billion.
Total net worth increased 10.58 percent to P310.72 billion.
“The sustained increase in premiums and net worth highlights the industry’s positive momentum entering 2026,” Insurance Commissioner Reynaldo Regalado said in a statement.
“Insurance continues to provide a vital safety net, protecting Filipino families and businesses alike. Through the Commission’s programs on financial literacy and inclusion, together with strengthened regulatory supervision, we aim to broaden access to insurance and achieve even greater protection for all Filipinos this year,” Regalado said.
Speaking to reporters, he said they were hoping to boost coverage in property insurance, especially as they seek to sustain industry growth this year.
“We need to cover more in property. Last year, it was a challenge considering the natural calamities that befell us,” he said.
“But we have to focus on the number of coverage and what benefits should be given to people, especially those who are not exactly at a certain level of confidence in their economic status,” he added.
The sustained growth helped lift insurance penetration, or premiums as a share of gross domestic product, to 1.78 percent in 2025 from 1.67 percent the previous year.
Insurance density, or average spending per person, reached a record-high P4,384.56.
However, the insurance penetration rate remains below the 2-percent target and lags behind regional peers.
Regalado acknowledged that reaching the target is still a challenge.
”We’ve always been targeting this for decades, the 2 percent. It’s not that easy how we’re supposed to reach that. There’s still a big gap we need to address,” Regalado told reporters.
