NEWS
The Philippine Insurance Industry Entered 2026 on Solid Ground
Preliminary data from the Insurance Commission shows that in the first quarter alone, the industry paid out ₱43.44 billion in benefits to policyholders and beneficiaries — up from ₱39.01 billion in the same period last year. At the same time, more Filipinos are buying insurance: Total Premiums grew to ₱140.85 billion from ₱124.48 billion, and Insurance Penetration rose to 2.03% of GDP. Total Industry Assets now stand at ₱2.65 trillion.
May 21, 2026
IC Extends Deadlines for
Reportorial Requirements
The Insurance Commission (IC) has stepped up in support of its regulated entities by granting extended deadlines on key reportorial requirements under Circular Letter No. 2026-10, dated 06 May 2026.
May 7, 2026
PIRA Joins Three Major Insurance Initiatives in 2026
PIRA is currently participating in three separate initiatives involving the Bangko Sentral ng Pilipinas (BSP), the Department of Agriculture (DA), and the United Nations Development Programme (UNDP). Each initiative aims to develop new insurance products and frameworks that could expand the role of the private non-life insurance sector in the Philippines.
April 28, 2026
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