Insurance penetration, density rise in Q2 2026 - IC

THE Philippines' insurance penetration rose to 1.96 percent in the second quarter of 2026, up from 1.79 percent from the same period last year, based on the latest Insurance Commission (IC) data.Insurance density also went up by 15.24 percent to P2,468.63 per person from the P2,142.19 recorded last year.Insurance penetration is the ratio of total insurance premiums collected to the gross domestic product (GDP) while insurance density refers to the average spending of each individual on insurance.The IC, in a statement released on Friday, attributed the higher insurance penetration to the substantial increase in premium collections by insurance companies."The Commission views these developments as encouraging indicators, underscoring rising public awareness of financial protection, greater insurance adoption, and growing confidence in the insurance industry," it said.