THE Insurance Commission (IC) collected P87.72 million in fines and penalties in 2025, up 86 percent from the previous year, as regulators tightened supervision of insurance firms and related entities.
The increase in penalties reflects stronger enforcement efforts aimed at making companies follow rules and protect consumers, the IC said in a statement.
Despite stricter monitoring, the insurance industry continued to grow. Total assets of insurance companies rose by 7.93 percent, while invested assets increased by 8.01 percent. Other sectors also expanded, with pre-need firms posting an 8.19 percent rise in assets and health maintenance organizations growing by 17.34 percent.
Demand for insurance products also remained strong, with total premium collections and sales exceeding P502 billion. This indicates that more Filipinos are availing of insurance for financial protection.
Insurance Commissioner Reynaldo A. Regalado said stricter supervision helps ensure that companies operate responsibly and transparently, which in turn builds public trust in the
industry.
The IC emphasized that penalties are not just meant to punish erring firms but to encourage better business practices and strengthen the credibility of the insurance sector. / KOC