Non-life insurance sector net income jumps 44% in H1

THE Philippine non-life insurance sector's net income jumped 43.78 percent in the first half of the year (H1), driven by higher premiums despite an increase in claims.Data released Wednesday by the Insurance Commission (IC) showed non-life insurers' combined net earnings rose to P7.37 billion in the first six months from P5.13 billion in the same period last year.Total net written premiums climbed 9.96 percent to P44.19 billion from P40.18 billion a year earlier. Motor vehicle insurance accounted for the largest share at P17.59 billion.Total earned premiums went up 13.29 percent to P42.54 billion from P37.55 billion, while gross written premiums expanded 14.03 percent to P75.43 billion from P66.15 billion.Claims also increased during the period, with total losses incurred rising 9.48 percent to P17.52 billion from P16 billion in the first half of 2025.The IC said the higher rate of claims showed the industry's continued ability to meet its obligations to policyholders.Total assets exceeded P400 billion in H1, rising 6.63 percent to P405.28 billion from P380.07 billion a year earlier.Total liabilities also went up by 5.60 percent to P253.78 billion, while net worth grew 8.41 percent to P151.5 billion.The IC said the increases in net worth, invested assets, and paid-up capital, along with other financial indicators, reflected the sector's financial strength and stability.