In a keynote speech at the Insurance Commission’s 77th anniversary celebration, Finance Secretary Frederick D. Go congratulated the Insurance Commission on its 2025 performance, highlighting that total insurance premiums exceeded PHP 500 billion for the first time. He framed the milestone as evidence of broader public participation in insurance and reiterated a push to extend protection to more families and communities, including underserved groups. Supporting indicators cited included insurance industry assets rising to PHP 2.66 trillion in 2025, with most assets supporting government securities and domestic investments. The Health Maintenance Organization industry paid PHP 12.10 billion in healthcare benefits and claims in 2025, while the pre-need industry recorded total premium income of PHP 23.94 billion in the fourth quarter of 2025 and 895,679 plans sold by year-end. The speech also called for further development of Takaful, microinsurance and accident coverages, alongside stronger consumer protection, digital transformation for faster and more secure insurance processes, and collaboration with ASEAN and global partners.
Department of Finance (Philippines) 2026-03-16
Philippines' Department of Finance highlights record PHP 500 billion in 2025 insurance premiums and urges stronger consumer protection and digital transformation
Finance Secretary Frederick D. Go praised the Insurance Commission's 2025 performance, noting total insurance premiums surpassed PHP 500 billion for the first time. He emphasized extending protection to underserved groups and advocated for developing Takaful, microinsurance, and accident coverages. Go highlighted digital transformation and collaboration with ASEAN and global partners for enhanced consumer protection and efficient insurance processes.