INSURED CITIZENS Finance Secretary Ralph Recto challenges the life insurance industry to become a key poverty-fighting force by increasing its market penetration, and turning life insurance into a mainstream consideration and a basic necessity for Filipinos. PHOTO FROM INSURANCE COMISSION FACEBOOK PAGE
IC also reported on Feb. 28, 2025 that the pre-need industry's total net income rose by 146.93 percent year-on-year, from P2.09 billion as of the quarter ending on Dec. 31, 2023 vis-à-vis P5.15 billion as of the quarter ending Dec. 31, 2024.
"The increase was largely driven by the 68.04-percent spike in the total income earned from 'investments in trust funds' and a 120.23-percent surge in 'other income'," Regalado said.