The Philippines Insurance Commission published sector figures showing life insurers collected PHP195.05 billion in premiums in the first half of 2025, a 12.01% increase from PHP174.14 billion a year earlier, with growth attributed mainly to variable unit life (VUL) policies. VUL premiums rose 15.47% to PHP130.70 billion and represented 67.01% of total premiums, driven by a 37.33% increase in single-premium variable life; renewal premiums were up 0.50% while first-year premiums fell 7.09%. Traditional life premiums increased 5.59% to PHP64.35 billion (32.99% of total), reflecting higher first-year premiums (up 18.20%) and renewal premiums (up 9.77%) alongside a decline in single premiums (down 50.07%). New Business Annual Premium Equivalent rose 11.29% to PHP37.01 billion. The release also reported life sector net income of PHP20.72 billion (up 4.05%) and balance-sheet growth, with total assets at PHP1,995,370.7 million and total invested assets at PHP1,930,790.1 million.
Philippines Insurance Commission 2025-08-27
Philippines Insurance Commission reports life insurers’ H1 2025 premiums up 12.01% to PHP195.05 billion led by variable unit life policies
The Philippines Insurance Commission reported a 12.01% increase in life insurance premiums to PHP195.05 billion in H1 2025, driven by a 15.47% rise in variable unit life (VUL) policies. VUL premiums accounted for 67.01% of total premiums, with significant growth in single-premium variable life. The life sector's net income rose 4.05% to PHP20.72 billion, with total assets reaching PHP1,995,370.7 million.