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 Insurance penetration rose to 1.79% in the second quarter of this year, from 1.71% registered during the same period last year. Insurance penetration is the ratio of insurance premiums to the gross domestic product (GDP). The Insurance Commission (IC) attributed the increase in insurance penetration to the high growth rate of premium collection by insurance companies. Latest data shows that Total Premiums paid for both life and non-life insurance products amounted to P242.84 billion as of 30 June 2025. This is 12.98% more than the Total Premiums collected during the same six-month period last year. Insurance premiums paid for life insurance products increased by 12.01% to P195.05 billion, a bulk of which were paid for variable life insurance products. Insurance premiums paid for general (non-life) insurance products increased by 20.48% to P39.63 billion. Total contributions to mutual benefit associations (MBAs), on the other hand, increased by 3.09% to Php8.16 billion. Insurance density, or the average spending of each individual on insurance, also increased by 12.07%. As of the end of the second quarter, insurance density amounted to P2,137.32. The above-mentioned figures are summarized in the following table:  Image Courtesy: Insurance Commission “This considerable increase was driven by a rise in Total Premiums that exceeded the population growth rate of 0.87%. The growth suggests a higher level of adoption and use of insurance services within the population as of the quarter,” IC said in its analysis of the latest data. The total benefits payments by the insurance industry also increased by 1.18% to P77.57 billion from P76.67 billion. Total net income of the industry posted a year on-year growth of 3.62% to Php28.78 billion. Total invested assets grew by 10.70% to P2.26 trillion from P2.04 trillion year-on-year. Meanwhile, the insurance industry’s Total Assets, Liabilities, Net Worth, and Paid-Up Capital as of the second quarter of 2025 are as follows:  Image Courtesy: Insurance Commission
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Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. Connect
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