Philippine insurance penetration rises to 1.96% in Q2 2026

Combined collections reached $4.6b in the second quarter.

The Philippines' insurance penetration climbed 0.16 percentage points in the second quarter of the year (Q2 2026).

Insurance penetration in the Philippines rose to 1.96% in Q2 2026 as insurance companies recorded higher premium collections.

Insurance penetration measures total insurance premiums collected as a share of gross domestic product (GDP).

Combined premiums collected by life and non-life insurers and mutual benefit associations (MBAs) increased to $4.6b (P282.91b) in Q2 2026 from $3.9b (P243.39b) in Q2 2025.

The life insurance sector accounted for most of the increase, with premium collections rising to $3.7b (P229.98b) from $3.2b (P195.05b). The growth was driven largely by variable life insurance products.

Non-life insurers also recorded higher premium collections, which rose to $716.1m (P44.19b) from $651.0m (P40.18b) over the same period.

MBAs collected $141.4m (P8.73b) in contributions and premiums in Q2 2026.

($1.00 = P61.72)