The Philippine Insurance Commission (IC) has issued guidelines on the conduct of institutional risk assessment relating to anti-money laundering and combating the financing of terrorism (AML/CFT) by insurance entities to ensure that such a review is carried out comprehensively and uniformly.
Healthcare benefits paid out by health maintenance organisations (HMOs) to its members amounted to PHP30.33bn ($536m) in the first half of 2024, which is a 15.65% increase from healthcare benefits paid out during the corresponding period last year, says the Insurance Commission (IC).
Singapore-headquartered regional InsurTech Igloo has announced that it has expanded its digital platform, Ignite, to the Philippines.
The operating performance of Malayan Insurance, one of the top three non-life insurers in the Philippines in terms of GWP and net income, is viewed as adequate, said AM Best.
The Insurance Commission (IC) is planning to issue rules governing the mandatory insurance for overseas Filipino workers (OFWs).
Finance Secretary Ralph Recto has called on the life insurance industry to expand its reach to prevent Filipinos from falling into poverty.
Pan-Asian life insurer FWD was ranked number six in the 2024 Million Dollar Round Table (MDRT) top 10 multinational companies rankings, for the third consecutive year.
Pru Life UK won the International Life Insurer of the Year- Philippines award for the fourth consecutive year at the Insurance Asia Awards 2024.
Nat CATs are becoming frequent and severe because of climate change. The Philippines, having been identified as one of the most vulnerable countries to the effects of climate change, is at the forefront of facing these threats. The rising sea level and extreme weather events are just some of the challenges the country faces.
The National Reinsurance Corporation of the Philippines (Nat Re) has announced that it marked the 45th anniversary of its founding with record figures in 2023, posting a massive 862% increase in net profits driven by the corporation's underwriting and investment incomes.