MANILA, March 16 (Xinhua) -- The Philippine insurance industry posted a historic milestone in 2025, with total premiums exceeding 500 billion pesos (about 8.4 billion U.S. dollars) for the first time, the country's Department of Finance said Monday.
Finance Secretary Frederick Go said the record performance signals that more Filipino families and businesses are taking steps to protect themselves against life's uncertainties.
"It reflects broader public participation and a growing awareness among Filipinos that insurance is an essential tool for financial protection," Go said in his keynote speech during the 77th anniversary celebration of the Insurance Commission.
The Insurance Commission, an attached agency of the Department of Finance, regulates and supervises the country's insurance, pre-need, and Health Maintenance Organization industries.
Official data showed that the insurance industry's total assets in 2025 grew to 2.66 trillion pesos (around 45 billion dollars). ■
