Total premium collections in the Philippine life insurance sector rose 17.91% year-on-year to P229.98 billion in the first half of 2026, as traditional life insurance premiums grew faster than variable universal life (VUL) products.
Data from the Insurance Commission (IC) showed VUL products continued to account for the bulk of premiums, rising 14.79% to P150.03 billion P 130.70 billion a year earlier.
Traditional life insurance premiums jumped 24.25% to P79.95 billion from P64.35 billion, outpacing VUL growth.
The life insurance industry’s net income climbed 3.42% to P21.42 billion from P20.72 billion in the first half of 2025, while benefit payouts to policyholders increased 19.57% to P69.21 billion.
Total assets grew 8.77% year-on-year to P2.17 trillion as of end-June, with the regulator saying the figures showed the industry’s stability and resilience against financial shocks.
