The Manila Times on Nostr: Expert: Steady growth in new life insurance premiums boon to PH economy ========== ...
Expert: Steady growth in new life insurance premiums boon to PH economy
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The Philippine Insurance Commission reported that the life insurance sector's total premium revenues reached P229.9 billion through the third quarter of 2023, with Annual Premium Equivalent (APE) premiums on new insurance sales of P46.6 billion, a 13.9% increase compared to the same period in 2022. The growth in new life premiums comes from the sale of traditional life insurance, as sales of variable life insurance have eased. Renato Vergel De Dios, President and CEO of BDO Life Assurance Company, emphasized the role of life insurance in nation-building by pooling together long-term capital. The Asian Development Bank (ADB) has also highlighted the importance of such investments in sustaining economic progress. BDO Life expects bancassurance to remain a consistent contributor to its overall financial services business as more Filipinos recognize the value of life insurance protection.
https://www.manilatimes.net/2024/01/20/public-square/expert-steady-growth-in-new-life-insurance-premiums-boon-to-ph-economy/1928938
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The Philippine Insurance Commission reported that the life insurance sector's total premium revenues reached P229.9 billion through the third quarter of 2023, with Annual Premium Equivalent (APE) premiums on new insurance sales of P46.6 billion, a 13.9% increase compared to the same period in 2022. The growth in new life premiums comes from the sale of traditional life insurance, as sales of variable life insurance have eased. Renato Vergel De Dios, President and CEO of BDO Life Assurance Company, emphasized the role of life insurance in nation-building by pooling together long-term capital. The Asian Development Bank (ADB) has also highlighted the importance of such investments in sustaining economic progress. BDO Life expects bancassurance to remain a consistent contributor to its overall financial services business as more Filipinos recognize the value of life insurance protection.
https://www.manilatimes.net/2024/01/20/public-square/expert-steady-growth-in-new-life-insurance-premiums-boon-to-ph-economy/1928938