The Philippines Insurance Commission reported that pre-need companies sold 218,218 plans as of 31 March 2025, up 31.23% from 166,286 a year earlier. Life or memorial plans accounted for 99.78% of plans sold, based on unaudited interim financial statements submitted by 13 pre-need firms. Total assets increased 6.55% year-on-year to PHP 163.61 billion, driven by a 7.60% rise in investments in trust funds, which represented 85.90% of total assets. Aggregate net worth grew 9.11% to PHP 28.84 billion, supported by a 19.08% increase in retained earnings, comprising 73.30% of net worth. Total premium income rose 4.41% to PHP 5.82 billion, with 10 of the 13 reporting firms recording premium collections and five reporting increases. Total net income contracted 63.80% to PHP 1.17 billion, attributed to a 14.35% increase in pre-need reserves and slower year-on-year growth in income from trust fund investments; trust funds exceeded pre-need reserves (including benefits payable) by PHP 12.51 billion.
Philippines Insurance Commission 2025-06-05
Philippines Insurance Commission reports 31.23% increase in pre-need plans sold in Q1 2025
The Philippines Insurance Commission reported a 31.23% increase in pre-need plan sales to 218,218 as of 31 March 2025, with life or memorial plans comprising 99.78% of sales. Total assets rose 6.55% to PHP 163.61 billion, driven by a 7.60% increase in trust fund investments. Despite a 4.41% rise in total premium income, net income fell 63.80% to PHP 1.17 billion due to higher pre-need reserves and slower growth in trust fund investment income.