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Insurance brokers raise billions in premiums, fees | Bernadette D. Nicolas

INSURANCE brokers generated P73.61 billion in premiums and P8.07 billion in commissions in 2020, the Insurance Commission said. The Insurance Commission also released on Wednesday the rankings of insurance and reinsurance brokers in terms of premium production and commissions earned based on the “Statements of Business Operations” submitted by regulated… ....

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Regulator flags firm for lacking license to sell insurance

THE Insurance Commission (IC) issued a cease-and-desist order (CDO) against Holy Angels Health Management Services as it lacked the license from the regulator to sell insurance policies. This came after the IC investigated the operations of Holy Angels following the receipt of a complaint stating that the company, which presents… ....

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Insurers' premium earnings up in Q2

The Insurance Commission reported that the premium income of insurers in the country jumped by double digits in the second-quarter, an indication of the country’s economic recovery from a prolonged pandemic.

In a statement, Insurance Commissioner Dennis B. Funa said on Tuesday, Oct. 26, that the ....

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Government allows non-life insurers to offer agricultural insurance

The Insurance Commission (IC) has finally approved the guidelines on the adoption of a regulatory sandbox framework in a bid to encourage greater private sector participation in agricultural insurance. According to Circular Letter No. 2021-60 signed by Insurance Commissioner Dennis B. Funa, “agriculture insurance in the country is mostly provided… ....

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Healthcare firms' net income nearly doubles

Healthcare firms' net income nearly doubles
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