Life insurance drives ’24 industry growth to ₱56B

Quick Summary:

THE Philippines’s insurance industry posted a net income of P56.29 billion in 2024, driven by the life sector’s growth.

Moreover, total net surplus of MBAs rose to P7.16 billion as of the fourth quarter, up by 23.24 percent from P5.81 billion last year.

Data also showed that total premiums grew by 12.81 percent to P440.39 billion as of the fourth quarter from the P390.39 billion in the previous year.

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Article Details

Author / Journalist: Ada Pelonia

Category: BusinessStartups

Markets: Philippines

Topics: Income Insurance 2024 Non-life Percent Premiums Total Billion Life Year Growth

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-12 @ 12:39:21 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 651 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 26103928

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 75 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 10 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #37

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