Life insurance premium collection increase by 12 percent in H1 2025

​Total premiums collected by life insurance companies as of the end of the first half of 2025 amounted to P195.05 billion. This is a 12.01% increase from premium collection during the same period last year, which amounted to P174.14 billion.

The Insurance Commission (IC) attributed the big increase in premium collection to the increase in premium collection from variable unit life (VUL) insurance policies, which increased by 15.47% to P130.70 billion during the first half.

“The upsurge in premiums was driven by the 37.33% rise in Single Premiums of Variable Life. Total Variable Life premiums increased by 15.47% as of Q2 2025 to P130.70 billion, constituting 67.01% of the total sector’s premiums,” IC said in a statement.

“Traditional Life premiums comprising the remaining 32.99% also experienced a marginal rise of 5.59%. This increase was brought about by the substantial rise of 18.20% First Year premiums and 9.77% Renewal premiums. Furthermore, New Business Annual Premium Equivalent (NBAPE) also witnessed a noteworthy 11.29% increase.”
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For easy reference, premium collection for VUL and traditional life insurance policies are as follows:

The total net income of the life insurance sector amounted to P20.72 billion, or a 4.05% increase from the total net income during the same period last year.
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Total assets, net worth, paid-up capital and total invested assets of the life insurance industry also registered robust growth during the first half of 2025, with total assets almost breaching the P2-Trillion mark. For easy reference, see the following financial stability indicators of the industry: