A 20% jump of life premiums in 2013

The insurance commission estimates that life insurance premiums will increase by 20% in 2013 to about 145 billion PHP (3.53 billion USD). The sector will be driven by the strong economic activity and the growing awareness of the value of insurance among Filipinos. The economy‘s growth forecasts expect a 7% activity increase in 2013. Life insurance turnover has already reported an increase of 39% in 2012.