August 29, 2025 | 12:00am
MANILA, Philippines — The well being upkeep group (HMO) business within the nation greater than doubled its earnings to P1.47 billion within the first half from P636.6 million a yr in the past, based on the Insurance coverage Fee (IC).
The business generated P47.03 billion from January to June, 21 p.c larger than the P38.75 billion recorded in the identical interval final yr.
“Regardless of the massive improve within the payout of well being care advantages, the HMO business continued its return to profitability because of larger revenues,” the IC mentioned in an announcement.
Information from the insurance coverage regulator confirmed that well being care advantages and claims paid out by HMOs rose by almost 20 p.c to P36.3 billion in the course of the six-month interval from P30.33 billion a yr earlier.
The regulator mentioned well being care advantages and claims accounted for nearly 80 p.c of total bills within the business.
Together with revenue tax, the overall bills went up by 19.5 p.c to P45.6 billion.
The full belongings of the HMO business within the mentioned interval reached P83.9 billion, a rise of 21 p.c from P69.26 billion in the identical interval of 2024. Liabilities additionally surged larger by almost 24 p.c to P72.25 billion from simply P58.3 billion final yr.
Whole invested belongings, nonetheless, declined by 13 p.c within the first half, dropping to P18.23 billion from P20.9 billion recorded throughout the identical interval final yr.
The insurance coverage regulator attributed the decline in whole invested belongings to the maturity of money equivalents, which registered a internet lower of almost 26 p.c, or P2.51 billion from January to June.
This aligns with the sooner report of the regulator that the ratio of insurance coverage premiums to gross home product went up barely to 1.8 p.c within the second quarter.