Philippines life insurance premiums rise 18% to $4b in H1 2026

Life insurance premium collections in the Philippines rose approximately 18% to $3.7 billion during the first half of 2026, according to the Insurance Commission. This growth was primarily driven by variable life insurance products.

Total premiums increased from $3.1 billion in the same period in 2025. New business annual premium equivalent, a metric for tracking new policy sales, grew by 13.13% to $669.9 million. The industry's net income also saw a modest increase of 3.42%, reaching $342.7 million.

Industry assets grew by 8.77% to reach $34.7 billion, pushing total industry assets above the P2-trillion mark. Additionally, benefit payments to policyholders and beneficiaries rose by 19.57% to $1.1 billion during the first half of the year.