Insurance industry premiums, lumago ng 64.3% sa ilalim ng Duterte admin

Insurance industry premiums, lumago ng 64.3% sa ilalim ng Duterte admin

February 10, 2022 @ 10:49 AM 8 months ago


MANILA, Philippines – Lumago ng 64.3% ang insurance industry premiums sa ilalim ng administrasyong Duterte.

Tinukoy ang data mula sa Insurance Commission (IC), sinabi ng Department of Finance (DOF) na ang kabuuang gross premiums ng insurance industry ay lumago mula P169.6 billion sa third quarter ng 2016 at naging P278.7 billion sa kahalintulad na panahon ng 2021.

Sinabi ni Insurance Commissioner Dennis Funa, iniulat ng Finance Department na ang total net income ng industriya ay tumaas ng 64.1% mula P22.85 billion sa pagtatapos ng September 2016 at naging P37.5 billion sa kahalintulad na panahon noong nakaraang taon, “another indicator of the insurance sector’s continuous and steady expansion under the Duterte presidency.”

Ang kontribusyon ng insurance industry sa ekonomiya ay lumago rin mula sa 1.64% ng gross domestic product (GDP) noong 2017 at naging 2.03% ng GDP “as of the third quarter of 2021.”

Ang insurance density o average amount na inilaan ng bawat filipino para sa insurance ay P2,528 “as of the third quarter of 2021” mula P1,768 sa kahalintulad na panahon noong 2017, ayon sa DOF.

“For 2021, I see a record insurance density figure, especially with people becoming more conscious of the benefits of insurance, especially after the peak of the COVID pandemic in 2020,” ang pahayag ni Funa.

“This pandemic has just brought to people’s attention the risks in life and the realization that livelihoods can be wiped out in a flash,” ani Finance Secretary Carlos Dominguez.

” the industry only saw a “slight dip” in both premiums earned and net income generated in 2020, the year when the coronavirus pandemic hobbled, if not shut down, most economies across the globe,” ayon pa rin sa insurance commissioner.

Bumagsak naman ang natamo na gross premiums ng industriya mula P224.98 billion noong 2019 ay naging P216.51 billion ito noong 2020, habang ang net income ay bumaba mula P31.74 billion noong 2019 at naging P28.62 billion noong 2020.

“While the total assets of the insurance industry grew 8.11% in 2020 and total investments increased 6.97%, its total net worth and the total net income dropped during that year,” ayon kay Funa.

“The net worth of the industry decreased by 3.88% and the total net income decreased by 8.6%. This is due primarily to the life insurance sector, which was impacted more by the COVID pandemic,” aniya pa rin.

Sinabi pa rin ni Funa na 22 mula sa 31 life insurance companies ang nakapagrehistro ng net investment loss na umaabot sa P238,000 hanggang P1.5 billion, habang 20 mula sa 31 life insurance companies ang dumanas ng pagbaba sa kanilang 2020 net income.

“However, in spite of all these, our 3rd quarter figures for last year show a strong rebound,” ani Funa.

“The insurance industry’s total investments were not affected by the economic shock triggered by the pandemic as seen from its 56.3% growth from P1.14 trillion in the third quarter of 2016 to P1.78 trillion in the same period last year,” anito sabay sabing “The industry’s total investments only fell slightly from P1.58 trillion in 2019 to P1.56 trillion in 2020.”

Pagdating naman sa total assets, sinabi ni Funa na nakapagtala ang industriya ng “P2.01 trillion in assets as of the third quarter of 2021, up by 52.4% from P1.32 trillion in the same period in 2016.” Kris Jose