THE INSURANCE INDUSTRY’S combined premiums, assets and net worth rose in the first quarter, data from the Insurance Commission (IC) showed.

Data based on submissions made by 130 out of 136 licensed life and nonlife insurers, as well as mutual benefit associations (MBAs), showed their combined premiums rose by 0.15% to P97.9 billion in the first quarter.

Their combined assets likewise climbed by 4.43% year on year to P2.22 trillion and total net worth went up by 19.74% to P471.77 billion.

Their overall paid-up capital and guaranty fund also grew by 6.36% to P81.46 billion at end-March.

Total liabilities inched up by 0.95% to P1.75 trillion. Invested assets went up by 4.08% to P1.91 trillion.

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