Filipinos put more money into life insurance in H1

Premium income hits nearly ₱230B, up 17.9% year-on-year.

Nearly ₱230 billion flowed into the Philippine life insurance industry in the first half of 2026, as households and businesses put more money into policies that provide financial protection, savings and other long-term benefits.

Premium income reached ₱229.98 billion from January to June, up 17.9% from the same period last year, according to the Insurance Commission. The growth means insurers collected roughly ₱35 billion more in premiums than they did in the first half of 2025.

At the same time, life insurers paid ₱69.2 billion in benefits to policyholders and beneficiaries, up 19.5% year-on-year, according to the Philippine Life Insurance Association (PLIA).

The figures give a clearer picture of the industry’s role in household finances. Premiums represent money families and companies are committing to insurance coverage and financial products, while benefits represent money flowing back to policyholders and beneficiaries when policies pay out.

The industry now provides some form of insurance coverage to about 63.5 million Filipinos, equivalent to roughly 55% of the country’s population, through individual and group insurance programs. The figure covers Filipinos with insurance protection through both individual and group plans.

Life insurers also held more than ₱2 trillion in invested assets during the period, giving the industry a sizeable pool of long-term capital. Insurance penetration, which measures premiums against the size of the economy, rose to 1.96% from 1.79% a year earlier.

READ: