MANILA, Aug. 25 (Xinhua) -- Philippine life insurance premiums rose nearly 18 percent year-on-year in the first half of 2026, driven largely by variable life products, local media reported on Tuesday.
Total premiums grew 17.91 percent to 229.98 billion pesos (about 3.77 billion U.S. dollars), while benefit payments rose 19.57 percent to 69.21 billion pesos. Net income increased 3.42 percent to 21.42 billion pesos, local media outlet Inquirer.net quoted the latest data from the country's Insurance Commission (IC) as saying.
Variable life products, which combine life insurance with investment features, accounted for 150.03 billion pesos, up 14.8 percent. Traditional products also posted stronger collections.
"These figures indicate the continued stability and resilience of the industry," IC said in a statement, adding that it demonstrated the industry's capacity to withstand shocks while meeting obligations to policyholders and beneficiaries. Enditem
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