The Philippine Insurance Industry reported a stable performance in the first quarter of 2026, according to data from Manila's Insurance Commission (IC), supported by continued growth in premiums, invested assets, and benefit payments.
Total benefit payments reached PHP43.44bn ($776m), higher than PHP39.01bn in the same period last year, reflecting stronger insurance uptake and continued claims support for policyholders.
Total assets rose to PHP2.65tn from PHP2.48tn, while total invested assets increased to PHP2.37tn from PHP2.19tn. Premium collections also climbed significantly to PHP140.85bn in Q1 2026 from PHP124.48bn in Q1 2025, reflecting sustained confidence in insurance as a financial safety net.
Net income declined slightly by 1.75% due to higher benefit payments during the quarter, but key indicators continued to improve. Insurance penetration rose to 2.03%, while insurance density reached PHP1,231.61, signalling deeper market reach and higher per-capita spending.
Insurance Commissioner Reynaldo Regalado said the industry remains resilient despite economic challenges, noting its continued ability to meet policyholder needs and deliver stable financial protection.