Non-life insurance sector net income jumps 44% in H1
The Philippine non-life insurance sector reported a 44% increase in net income for the first half of the year. Despite rising claims, the industry shows strong financial growth and stability.
Why it matters
Indicates economic health and resilience within the financial services sector of the Philippines.
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.
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