Go made the statement during his keynote speech at the Insurance Commission’s (IC) 77th anniversary celebration on March 16, noting that growing public participation in insurance reflects increasing awareness of its role in financial security.
Record milestone
“Beyond the numbers, this milestone tells us something even more important,” he said.
“It reflects broader public participation and a growing awareness among Filipinos that insurance is an essential tool for financial protection. This also reaffirms the industry’s role as a cornerstone of economic resilience.”
The IC is an attached agency of the Department of Finance mandated to regulate and supervise the insurance, pre-need and health maintenance organization (HMO) industries.
Go cited the industry’s strong performance in 2025, with total insurance premiums exceeding P500 billion for the first time in history.
The finance chief said the milestone indicates that more Filipino families and businesses are taking steps to protect themselves against financial risks and life’s uncertainties.
Industry growth
Total assets of the insurance industry reached P2.66 trillion in 2025, with a significant portion invested in government securities and domestic investments that help finance infrastructure and national development priorities.
The health maintenance organization sector also paid out P12.10 billion in healthcare benefits and claims during the year.
Meanwhile, the pre-need industry posted total premium income of P23.94 billion by the fourth quarter of 2025, with 895,679 plans sold by year-end to help families prepare for educational and memorial needs.
Broader initiatives
Go said initiatives such as Takaful, microinsurance and accident coverage programs should continue to be refined and expanded to reach more Filipinos.
He also called for stronger consumer protection and faster digital transformation to create simpler, more accessible and more secure insurance systems.
Regional cooperation
The finance chief underscored the importance of stronger collaboration with ASEAN and global partners to develop responsive and inclusive insurance policies.
The insurance sector remains a key pillar of economic stability, helping safeguard the financial security of individuals while supporting national growth. —Ed: Corrie S. Narisma
