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COA nixes Aviation Authority’s insurance investment

THE Commission on Audit (CoA) flagged a Civil Aviation Authority of the Philippines (CAAP) insurance investment saying it was done without approval of the Board members and without adequate criteria for the selection 10 insured officers.

Japan’s love of foreign insurance set to wane

TOKYO — Japan’s craze for overseas insurance products, driven by a need for better yield than the near-zero ones at home, has been a long-standing headwind for the yen as domestic insurers bought foreign bonds.

Allianz PNB sees slower growth in life insurance sector

ALLIANZ PNB Life Insurance, Inc. expects the life insurance industry to post slower growth in 2019 dragged by liquidity issues in the first half of the year.

A better health care experience

Advances in technology across retail, hospitality and finance, among others, have caused consumers to become more demanding. The exact same thing came to apply...

Steadily expanding over time

The Philippine insurance industry remains upbeat in recent years, going hand in hand with the country’s evolving economy. While all sectors of the industry...

Better service through technology

With many industries being transformed through technology, the insurance sector is following suit as well. The insurance industry is going beyond the traditional means...

Manulife Philippines launches real estate investment product

MANULIFE PHILIPPINES has rolled out a new investment platform which allows Filipino clients to invest in real property across Asia-Pacific, at a time when local real estate investment tools remain scarce.

The selfless servant

During his tenure as the country’s Department of Foreign Affairs (DFA) Secretary from 2011 to 2016, Albert F. del Rosario exemplified a strong patriotism...

The present and future of insurance brokerage

It only makes sense that as an economy grows, the need for insurance also increases. For instance, consider non-life insurance. As the average household...

Insurance broking basics

Finding the right insurance cover can be confusing and time-consuming due to the increasing number of insurers, policies, offers and options to choose from....

FWD Life Philippines unveils new life insurance products

FWD Life Philippines has launched a line of protection plans suited to meet individual customer needs. In a statement sent to reporters on Monday, the...

Man who pretended to be IC commissioner charged with estafa

The Insurance Commission (IC) said an individual who was claiming to be Insurance Commissioner Dennis B. Funa was charged with estafa. In a statement sent...

Allianz PNB Life Insurance to launch microinsurance products

Allianz PNB Life Insurance, Inc. will venture into the microinsurance business to help narrow the country's protection gap. In an interview, Allianz PNB Chief Finance...

National Reinsurance Corp names new president

National Reinsurance Corp. of the Philippines (Nat Re) appointed Allan Rossi Santos as its new president and chief executive officer, succeeding Augusto Hidalgo III. In...

Insurers’ group cites opportunities to grow microinsurance segment

The Philippine Insurers and Reinsurers Association, Inc. (PIRA) is optimistic to expand the microinsurance segment to grow insurance penetration in the country. In a press...

Case filed vs Philam Life for alleged policy manipulation

Philippine American Life and General Insurance Co., Inc. (Philam Life) is facing administrative case for allegedly manipulating insurance policies. In a statement, the Insurance Commission...

IC shuts operations of pre-need firm Paz Life Plans

THE Insurance Commission (IC) has suspended the operations of pre-need firm Paz Life Plan, Inc. after it failed to comply with the capitalization requirement.

Sun Life on track to have 5 million clients by 2020

SUN LIFE of Canada (Philippines) Inc. is on track to achieve its goal to expand its client base to five million customers by 2020 mainly through its agency channel, officials said yesterday.

Sun Life Philippines ‘on track’ to hitting goal of 5 million...

Sun Life of Canada (Philippines) Inc. said it is on track on achieving its goal to expand its client base to five million customers...

Microinsurers collect more premiums in Q1

THE MICROINSURANCE industry saw increases in its total premium production and number of people covered in the first quarter, the Insurance Commission (IC) said.

Did Sun Life just create a Tinder for financial advice?

Except you get financial rewards—not a string of regrettable dates.

Insurance Commission seeks repeal of resolution requiring surety firms to pay...

THE INSURANCE COMMISSION (IC) seeks to repeal the National Labor Relations Commission (NLRC) resolution requiring surety companies to immediately pay the appeal bonds to...

Philam Life net worth up 53% in 2017

The Philippine American Life and General Insurance Co. (Philam Life) saw its net worth jump in 2017. In a media briefing Monday, Philam Life said...

Car sales and insurance

The country’s insurance sector exhibited another strong growth in 2017. Data from the Insurance Commission (IC) showed that the industry’s total premiums grew to...

What you need when buying your first car

So you want to buy your first car. You’ve picked out a model you want, out of hundreds of options from different brands. You’ve...

GSIS extends submission of application for multi-asset strategy fund managers

Government Service Insurance System (GSIS) said it extended its multi-asset strategy program to last another month until April 13 as it wants to receive...

IC shuts down five insurance firms

The Insurance Commission (IC) has shut down the operations of five insurers for failing to meet the minimum net worth requirement. In a statement on...

Insurance sector posts double-digit growth in 2017

By Melissa Luz T. Lopez, Senior Reporter THE insurance sector saw another banner year in premiums in 2017 supported by double-digit growth among life and...

Embracing challenges for growth and opportunities: ASP holds 58th Annual Convention

By Bjorn Biel M. Beltran The internationally recognized Actuarial Society of the Philippines (ASP) is hosting its annual two-day convention from Nov. 16 to 17...

Resolution, Swiss Re eye life insurance portfolios

MUNICH/FRANKFURT — Britain’s Resolution Group, Swiss Re and private equity firm Cinven have expressed an interest in acquiring two large German life insurance portfolios owned...

UCPB offers ATM insurance coverage

THE United Coconut Planters Bank (UCPB) has started offering insurance coverage for automated teller machine (ATM) transactions to its depositors amid an industry-wide push...

Move-in must-haves

One of the most significant milestones young adults can have is getting a place entirely of their own. Not only is it an undeniable...

Tour insurers say Kanye West not cooperating with claim

LOS ANGELES – Syndicates of Lloyd’s of London insurance market filed a countersuit to Kanye West’s claim that he was owed $10 million after...

IC backs proposed tax cut for non-life sector

THE Insurance Commission (IC) supports the non-life sector’s proposal of trimming taxes imposed on its premiums, with the regulator to submit its stand on...

Insurance brokerage income climbs in 2016 as commissions drop

THE Insurance Commission (IC) saw income from brokerage activities inch up last year, despite lower commissions earned, due to the growing online platforms. In a...

Kanye West sues insurer over canceled tour

LOS ANGELES -- Kanye West filed a lawsuit Tuesday against Lloyd’s for $10 million, alleging the insurer is refusing to pay claims stemming from...

New weather insurance aids farmers

By Francis Anthony T. Valentin, Special Features Writer Filipino farmers are mostly old, have little or no education, live a hand-to-mouth existence, but continue to toil,...