The life insurance sector has a strong premium growth of 14% in the first quarter

The Insurance Commission (IC) reported on Wednesday, May 21, that the total income of the local life insurance industry rose by 13.9 percent in the first quarter of the year to 99.9 billion ° C, which largely increased by a massive jump of the individual premiums under variable life insurance.

The total income of the industry was expanded by 12.2 billion ₱ by 12.2 billion ₱ in the same period of the previous year.

Of the entire life insurance premiums, a mass or 67.7 percent came from a variable life insurance that rose by 22.8 percent. The remaining 32.3 percent of the sum came from traditional life insurance, where a decline of 0.9 percent recorded.

Therefore, the insurance commissioner Reynaldo A. Regalado found that the strong performance of individual premiums mainly drove growth as part of variable life insurance. It rose by 53.7 percent in the period.

The new business in the industry rose by 12.9 percent compared to 16.7 billion ₱ in the first quarter of 2025 in the first quarter of 2025 in the first quarter of 2025 in the first quarter of 2025.

The total net profit of the sector rose by 12.2 percent compared to the previous year and rose from 9.7 billion ₱ to 10.8 billion ₱ in the previous year. Regalado said this was supported by a decline in total performance of 7.2 percent, which fell from 31.2 billion ₱ to 28.9 billion.

Regalado stated that the decline in the investment result was 46 percent compared by an increase in the overall income of the underwrit by 15.2 percent, while the total drawing costs in the reporting period remained on $ 89.5 billion.

The total assets of the life insurance industry reached 1.93 trillion ₱ 1.93 trillion in the first quarter of 2025.

Regalado said that this would be 4.7 percent due to an increase in traditional assets and an increase in separate fund assets by 2.3 percent, which make up 39.4 percent or 55.5 percent of the total assets of the industry.

In the meantime, the overall liabilities of life insurers increased by 2.5 percent, which is due to the increase in the collected fund liabilities and growth of the aggregated reserves by 3.7 percent, which accounts for 65.1 percent or 21.5 percent of the total liabilities in the industry.

In the meantime, the total assets of life insurers rose 10 percent to 290 billion ₱ in the previous year. This was driven by 18 percent growth of the profit reserves, which make up 73.1 percent of the total assets of the sector.

The contribution also increased by 49.9 percent and rose from 5.5 billion to 8.2 billion ₱ in the same period.

The total capital of the sector rose by one percent and rose from 34.9 billion ₱ in the first quarter of 2024 to 35.3 billion ₱ this year.

The assets invested also increased by 3.2 percent per year and reached 1.80 trillion ₱ 1.86 trillion ₱ 1.86 trillion in the first quarter of 2025 trillion ₱ 1.80 trillion. This was driven by increasing traditional invested assets and invested assets invested by separate funds.