Insurance industry grows 11.1% Jan-June 2017

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THE insurance industry posted an 11.1 percent growth in premium income during the first half of 2017, with all the sectors posting expansion during the period, regulators said on Monday.

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Data from the Insurance Commission placed the industry’s total premium income at P117.29 billion from January to June, up from P105.52 billion in 2016.

“It should be recalled that during the first half of 2016, the insurance sector experienced a 9.11 percent decline in premium income to P105.52 billion from P116.11 billion posted during the same period in 2015.

”This year, however, the insurance industry posted a positive growth in terms of premiums generated as early as the first half of the year,” Insurance Commissioner Dennis Funa said in a statement released on Monday. MAYVELIN U. CARABALLO

 

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