The Philippines has long been exposed to climate hazards, from typhoons to floods and earthquakes, due to its geographical location. While the insurance market is stronger than a decade ago, extreme events still test claims operations and the resilience of weaker carriers. To address this, Southeast Asia is developing innovative risk-financing solutions that the Philippines can adopt or scale, says the Philippine Insurers and Reinsurers Association (PIRA) Executive Director, Michael Rellosa.
Philippines state-run Philippine Health Insurance Corporation (PhilHealth) is under scrutiny for weak anti-fraud safeguards according to a study conducted by the Philippine Institute for Development Studies (PIDS).
Philippine President Marcos has signed the country's PHP6.793tn ($121.3bn) national budget for 2026, restoring government subsidy to the state insurer, the Philippine Health Insurance Corporation (PhilHealth). The signing was held on 5 January at Malacañang Palace.
Vitarich Corp. announced on Monday that it has signed a PHP400m ($7.1m) compromise agreement with AXA Philippines Life and General Insurance Corp to resolve a long-standing dispute related to damages from Typhoon Ondoy in 2009.
Philippine life insurer Sun Life Grepa and rural bank Top Bank Philippines have signed a partnership agreement to provide financial solutions to micro, small and medium enterprises (MSMEs), agri-professionals, and other group clients.
The total premium income of the Philippine pre-need industry reached PHP17.52bn ($313m) in the first three quarters of 2025, up by 3.92%, compared to the corresponding period last year, according to data from the Philippine Insurance Commission (IC) released on 6 December 2025.
The net income of health maintenance organisations (HMOs) in the Philippines tripled in the third quarter of 2025, reaching PHP?2.44bn ($41.4m) from PHP?800.9m recorded in the same period last year.
A new study in the Philippines has revealed that the total health spending in the country had reached PHP1.4tn ($23.81bn) in 2024, which translates to about 5% of the country's GDP.
Filipino farmers have received an initial insurance payout of around PHP571.3m (US?$9.67?m) from the country's Crop Insurance Corporation to accelerate recovery from the effects of recent storms, Fung-wong and Kalmaegi.
In a circular letter, the Insurance Commission (IC), the regulator of the Philippines, ordered all insurance companies and related entities to undertake the following measures whenever a state of calamity is declared in the country: