The Philippine insurance industry posted record growth in 2025, with total premiums surpassing ₱500 billion for the first time and assets swelling to ₱2.66 trillion, signaling a sharp rise in financial protection among Filipinos.
In a news release, Finance Secretary Frederick D. Go said the milestone reflects not just industry expansion but a shift in public mindset toward securing the future.
“Beyond the numbers, this milestone tells us something even more important. It reflects broader public participation and a growing awareness among Filipinos that insurance is an essential tool for financial protection. This also reaffirms the industry’s role as a cornerstone of economic resilience,” he said during the Insurance Commission’s (IC) 77th anniversary on March 16.
Data from the IC showed that the industry’s asset base — largely invested in government securities and domestic instruments — continues to support infrastructure financing and national development priorities.
Growth was also evident across related sectors. Health Maintenance Organizations (HMOs) paid out ₱12.10 billion in benefits and claims in 2025, underscoring expanded access to healthcare.
Meanwhile, the pre-need sector posted ₱23.94 billion in premium income by the fourth quarter, with nearly 896,000 plans sold, indicating stronger demand for education and memorial planning products.
Go said the government will continue pushing for broader coverage, particularly among underserved communities, by strengthening microinsurance, accident coverage, and Takaful or Shariah-compliant insurance.
At the same time, he emphasized the need for reforms to sustain growth, including improved consumer protection and accelerated digitalization to make insurance services faster, simpler, and more secure.
The finance chief also highlighted the importance of deeper collaboration with ASEAN and global partners to develop more inclusive and responsive policies.
The IC, an attached agency of the Department of Finance, regulates the insurance, pre-need, and HMO sectors.
With sustained growth across premiums, assets, and coverage, the insurance industry is emerging as a key pillar of both household financial security and the country’s broader economic resilience.