Philippine general insurers’ net income expands to $90b in H1 2024

Total assets also increased by 6.86% YoY.

The net income of 56 non-life insurance companies in the Philippines saw their net income surge 36.8% year-on-year (YoY) to $0.09b (Php5.0b).

Total assets remained flat, inching up 0.32% YoY to $6.42b (Php356.8b), whilst total liabilities dipped 0.8% YoY to $4.14b (Php230.2b).

The industry’s total net premiums written climbed 7.1% YoY to $0.59b (Php32.9b).

($1.00 = Php56.34)