7 months Local insurers’ premiums drop in Q1 MB |Biz
By Chino S. Leyco The local insurance industry registered a decline in premiums in the first three months of the year due to weak life business, the government regulator said over the weekend. Insurance Commissioner Dennis B. Funa said that total premiums of the industry decreased by 8 percent to P70.7 billion in January to March this year from P76.6 billion in the same period last year. But, Funa said that both non-life insurance business and mutual benefit associations (MBA) saw their premium income increase during the period. “The decrease in the total premiums of the life sector can be ... more