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Keisha Ta-Asan - The Philippine Star
February 2, 2026 | 12:00am
Latest data from the Insurance Commission (IC) showed insurance penetration improved to 1.78 percent in 2025 from 1.67 percent in 2024, while insurance density reached a record high of P4,384.56 from P3,894.03.
STAR / File
MANILA, Philippines — The life insurance industry sustained its growth momentum in 2025, supported by rising demand for financial protection as Filipinos increasingly prioritized security-related spending, Insurance Commissioner Reynaldo Regalado said.
Latest data from the Insurance Commission (IC) showed insurance penetration improved to 1.78 percent in 2025 from 1.67 percent in 2024, while insurance density reached a record high of P4,384.56 from P3,894.03.
Insurance density refers to the average spending of each individual on insurance. It, along with insurance penetration, is a key measure used to assess the level of development of a country’s insurance sector.
Of the total penetration rate, the life insurance sector accounted for 1.44 percentage points, underscoring its dominant contribution to overall industry growth.
As of Jan. 29, total assets of the life insurance sector rose by 8.5 percent to P2.09 trillion in 2025 from P1.93 trillion in 2024.
Despite total liabilities rising by 8.2 percent, the industry’s total net worth grew by 10.58 percent to P310.72 billion from P280.99 billion.
Total net income also climbed by 15.1 percent to P46.32 billion from P40.24 billion, reflecting improved profitability across the sector.
Total premiums increased by 14.5 percent to P403.21 billion from P352.02 billion, highlighting sustained demand for insurance products.
Life insurance companies accounted for 80.7 percent, or P403.21 billion, of the P499.23 billion in total premiums paid to the entire insurance industry during the year, and paid out P121.88 billion in benefits to policyholders.
Regalado attributed the strong income growth to changing consumer priorities.
“It reflects a continuing sense of security that insurance provides. When you look at spending patterns, the propensity to spend has shifted more toward security rather than retail purchases. That is what we saw, and it indicates sustained growth,” he said.
