Value sum assured on new business variable life insurance Philippines 2013-2020

Published by
Christy Balita,
Mar 28, 2023
The total value of sum assured on the new policies issued for variable life insurance in the Philippines amounted to approximately 660.44 billion Philippine pesos in 2020, 23 percent less than in the previous year. Sum assured is the amount of the coverage outlined in the insurance policy that the policyholder is guaranteed to receive from the insurer before any bonuses.

Total value of sum assured on new business generated for variable life insurance in the Philippines from 2013 to 2020 (in billion Philippine pesos)

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Release date

January 2023

Region

Philippines

Survey time period

2013 to 2020

Supplementary notes

One Philippine peso is equal to 0.018 U.S. dollars and 0.017 euros as of January 2023.
Figures prior to 2016 came from earlier reporting.

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