A golden salakot, held aloft by two merlions rising from blue waters, forms the iconic emblem of the Insurance Commission (IC). The merlions themselves represent vigilant watchfulness, while the salakot stands for shelter and security from risks on land, at sea, and beyond.
The salakot is perfectly balanced, symbolizing the IC’s role in protecting both the public and the insurance industry. Tilted, the headgear cannot provide adequate protection from the dangers it seeks to guard against.
Since its founding in 1949, the IC has retained this emblem, never changing it, as nothing else captures the significance and value of its regulatory role. Like the two merlions holding the salakot, it has to maintain the delicate balance between oversight and protection. This striking image of vigilance, protection, and care has endured for 77 years, proving that the commission’s mission remains as relevant and essential today as it was at its founding.
In 2025, the IC reinforced its commitment to this mission. To navigate an evolving landscape of risks, innovations, and public needs, it continued to adapt and evolve, while remaining firmly grounded to its mandate and, most especially, public service. It embraced digitalization, implemented reforms to strengthen the regulation of the insurance industry, and continued to uphold the highest standards for good governance.
Looking back, the year proved productive, marked by notable breakthroughs for both the insurance industry and the commission itself.
STRENGTHENING INSURANCE PROTECTION’S REACH
Benefits paid out in 2025
The IC reported that, in 2025, the insurance industry paid out a total of P164.16 billion in benefits—P121.88 billion coming from the life insurance sector, and P34.05 billion coming from non-life. Other regulated entities, consisting of health maintenance organizations (HMO) and pre-need companies, paid out a total of P74.64 billion and P6.7 billion, respectively.
Premiums and membership fees collected by IC- regulated entities in 2025
The industry also surpassed the half-trillion peso mark in total premiums, with collections recorded at P502.64 billion at the end of 2025. Premiums collected from the pre-need industry recorded a steady growth of 5.73%, which reached P23.94 billion, while HMO membership fees likewise continued to increase to almost P100 billion.
As a manifestation of the growing demand for insurance, both insurance penetration and insurance density (refers to the average amount spent on insurance premiums per person, indicating the extent to which individuals are investing in insurance protection) increased in 2025. Insurance penetration improved to 1.79%, while insurance density rose to P4,414.58, marking the first time in the past decade that it exceeded the P4,000 threshold.
“These figures reveal more than strong industry performance.
They ref lect the public’s growing financial literacy and greater awareness of insurance as a tool for financial protection,” Insurance Commissioner Reynaldo A. Regalado said in his welcoming remarks during the commission’s 77th anniversary celebration in the Philippine International Convention Center.
“They also demonstrate the enduring trust that Filipinos place in the insurance, pre-need, and HMO sectors as reliable partners in financial security,” Regalado added.
EXPANDING PROTECTION FOR ALL
In 2025, the IC strengthened its mission to make insurance protection accessible to every Filipino, particularly those in underserved and low- income communities. By promoting affordable, inclusive products and supporting innovative solutions like microinsurance and takaful, the commission helped more people safeguard their lives and livelihoods without straining their budgets.
In January, the IC issued Circular Letter (CL) 2025-01, which set guidelines for “inclusive micro products” covering microinsurance, micro-HMO, micro- takaful, and micro pre-need products. Under the circular, contributions, premiums, gross contract prices, fees, or charges for these products must not exceed 7.5% of the current daily minimum wage for non-agricultural workers in Metro Manila, ensuring that protection remains within reach for more Filipinos.
To date, the IC has approved at least 94 micro products and seven takaful products. The commission expects industry partners to continue innovating micro products, expanding their reach and making insurance protection accessible to even more Filipinos.
In March 2025, the IC issued Advisory No. RS-2025-009, informing the public about approved gender- specific insurance and HMO products. In the advisory, the commission declared its support for initiatives that promote inclusivity, empowerment, and financial resilience by addressing women’s health, financial security, and overall well-being. At the same time, it encourages the public to choose only insurance and HMO products that are properly licensed and regulated by the commission.
By developing affordable, tailored solutions, the industry can help close the protection gap and ensure that underserved communities have greater access to financial security.
“The Commission is strengthening micro products as a vital tool for financial inclusion and social protection,” Regalado said in an interview with Philippines Graphic. “This approach aims to close the protection gap for the uninsured and underinsured segments of our society.”
EMPOWERING THROUGH KNOWLEDGE
Financial literacy and education remain at the heart of the IC’s mission. It is one thing for Filipinos to know how to save and invest, and quite another to protect themselves from scams, misleading products, and financial pitfalls.
Recognizing this, the commission has made it a priority to equip communities with the knowledge and tools they need to make informed decisions.
“It is really important for insurance providers to go beyond selling policies, and focus on education and empowerment,” Regalado reiterated in his interview with Graphic. “By taking an active role in shaping the values and knowledge of future generations, we can build financially literate consumers who can make better financial decisions for their personal and community well-being.”
Through partnerships with microinsurance providers, cooperatives, and industry stakeholders, the commission delivered financial education and literacy lectures to thousands of individuals in 2025.
These sessions covered essential topics such as the principles of insurance, understanding micro and takaful products, consumer rights, and responsible financial management. By equipping individuals with practical knowledge, the commission empowered communities to make informed decisions, better protect their families, and take full advantage of the growing range of accessible insurance options.
SAFEGUARDING THE PUBLIC, STRENGTHENING CONFIDENCE
Beyond policy and regulation, the IC has remained deeply committed to directly serving the Filipino people.
In 2025 alone, it assisted 5,381 clients and facilitated the release of P572 million in mediated claims, ensuring that individuals and families received timely support when navigating insurance-related challenges. These efforts ref lect the commission’s dedication not only to regulating the industry, but also to protecting consumers and safeguarding their financial well-being.
In response to the directives of President Ferdinand R. Marcos Jr. and the Department of Finance, the IC issued CL 2025-21 to facilitate the processing of claims for victims of typhoons and earthquakes. The circular instructed regulated entities to extend compassion and understanding to affected policyholders, reinforcing the IC’s role in ensuring that relief reaches those who need it most.
In 2025, the commission also began the preparations for the opening of its Baguio District Office, a major step in extending its services to Northern Luzon. During the IC’s 77th anniversary celebration, Regalado proudly announced that the office’s doors were now open, strengthening local access to assistance, regulatory support, and consumer education.
INTEGRITY AT ITS CORE
The IC also demonstrated that strong governance and public service go hand-in-hand.
As a member of the Anti-Money Laundering Council and the National Anti-Money Laundering/Counter- Terrorism/Counter-Proliferation Financing Coordinating Committee, the commission played a vital role in the country’s efforts to be removed from the Financial Action Task Force’s grey list, thus reviving the confidence of foreign investors in the Philippine economy.
Through vigilant regulatory oversight, the commission ensures that all regulated entities comply with international standards and are equipped to meet evolving anti- money laundering and countering the financing of terrorism requirements.
On October 15, 2025, in response to concerns over corruption and ghost infrastructure projects, the IC forged a Memorandum of Agreement with the Department of Public Works and Highways (DPWH) to enable seamless data-sharing on bonds posted for government infrastructure projects.
The IC has since conducted regular coordination meetings with DPWH to monitor claims and certification bonds, ensuring that legitimate claims are prioritized and that surety companies uphold their obligations. The partnership underscores the commission’s commitment to transparency, accountability, and safeguarding public resources.
The IC also continues to hold its ISO 9001:2015 certification, following the successful audit of its Quality Management System by TUV Ford on 27 September 2024. Maintaining this certification in 2025 demonstrates the Commission’s ongoing commitment to delivering high-quality, consistent services to clients and stakeholders, even as it expanded outreach, strengthened consumer protection, and rolled out new digital initiatives throughout the year.
In June 2025, the IC also received an unmodified opinion from the Commission on Audit, affirming its strong commitment to transparency, accountability, and sound financial management.
The IC has consistently earned unmodified opinions from COA from 2017 to 2021 and from 2023 to 2024, and remains committed to sustaining this level of transparency and efficiency in the years ahead.
“Trust is the foundation of good governance; as regulators, our responsibility goes beyond compliance. In the insurance sector, the people actually trust you with their lives, livelihoods, and property,” Regalado told Graphic. “The commission is committed to upholding that trust, ensuring that insurance truly protects and empowers every Filipino.”
DIGITAL TRANSFORMATION FOR A MODERN INDUSTRY
The IC continued to modernize its operations through digital innovations that make regulatory processes faster, more transparent, and more accessible to both the public and the insurance industry.
By embracing technology, the commission aims not only to improve service delivery, but also to strengthen oversight, foster transparency, and promote efficiency across all its functions.
During the IC’s 77th anniversary, Regalado highlighted IC’s Digital Transformation Roadmap, which includes the development of the following systems:
- The New Licensing System, which will allow insurance companies to apply for and renew licenses entirely online, reducing the need for in-person transactions and speeding up approvals;
The IC Certification System, which will streamline the verification of bonds, particularly those required for government projects, ensuring that procuring entities can confirm compliance quickly and efficiently;
- The Case Management System, which will strengthen oversight by tracking complaints, monitoring cases, and improving management
- of claims and payouts;
- The Enterprise Content Management System or ECMS, which will support the shift toward a fully paperless environment, making records easier to access, secure, and manage;
- The Electronic Comprehensive Third-Party Liability or eCTPL System, which will serve as a unified portal for purchasing, paying, and verifying mandatory CTPL coverage for vehicle registration.
“Good governance today requires more than sound policy—it demands systems that are transparent, efficient, and responsive to the needs of the public,” Regalado said. “Through digital transformation, the commission is strengthening trust while ensuring that regulation keeps pace with the times.”
STRONGER TIES ON THE INTERNATIONAL STAGE
International engagements help the IC learn and benchmark with other countries.
These engagements also create opportunities for dialogue and collaboration, helping ensure that the IC’s policies remain aligned with international standards and responsive to an increasingly interconnected financial landscape.
As part of these engagements, Commissioner Regalado serves as the Chairman of the Asian Reinsurance Corporation based in Bangkok, Thailand. He is also a member of the International Association of Insurance Supervisors, ASEAN International Training Institute, and ASEAN Insurance Regulators’ Meeting.
The IC also actively explores partnerships with international organizations and participates in training programs to further upskill its personnel and continuously enhance the delivery of its services.
ON THE HORIZON
With the insurance landscape constantly evolving, the IC is setting its sights firmly on the future. Guided by its mandate to protect the public and nurture a stable industry, it continues to advance reforms and programs that deepen financial protection and ensure that insurance remains a reliable safeguard for Filipino families.
In 2026, the IC will pursue proposed amendments to the Insurance Code to address existing gaps in the law and further strengthen the regulatory framework of the industry. At the same time, it will continue to expand its financial literacy and education initiatives, raising greater awareness about the value of insurance and promoting more inclusive access to protection, particularly for underserved communities and the youth.
Just as the golden salakot shelters and protects, the IC’s 2025 initiatives manifest its commitment to shield the public from emerging risks, while fostering a robust, inclusive insurance industry. Looking ahead, the commission remains steadfast in holding the salakot aloft—balancing oversight, innovation, and public service to ensure protection reaches more Filipinos and the sector grows responsibly.
For 77 years, the salakot has symbolized vigilance, care, and security. In 2026 and beyond, it will continue to remind everyone of the commission’s enduring mission: to shelter the public, guide the industry, and uphold insurance as a true promise of protection for every Filipino.
Published in the March 2026 issue of the Philippines Graphic.
. The merlions themselves represent vigilant watchfulness, while the salakot stands for shelter and security from risks on land, at sea, and beyond. ){kind=link}