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International

Philippine insurance sector's net income down 3.7% in Q1

June 28, 2016 Reprints

The Philippine Insurance Commission said that insurance industry's total net income decreased 3.7% to about 5 billion Philippine pesos ($105.5 million) in the first quarter of 2016, reported Inquirer.net.

Total premiums in the sector amounted to PHP 47.7 billion during the quarter, down 15.2% year on year.

The combined profit of nonlife insurers' decreased 38.8% to PHP 518.4 million.

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Philippine insurance sector's net income down 3.7% in Q1

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