In the Philippines, insurance penetration increased from 1.63% to 1.71% as of June 2024.
In comparison, the 2022 insurance penetration of selected countries are:
Hong Kong - 19%
Taiwan - 15.4%
Singapore - 9.2%
Thailand - 5.3%
Malaysia - 5%
India - 4%
China - 3.9%
Insurance provides financial safety net in case of illness, accident, or property damage without facing undue hardship. Insurance helps individuals, companies and associations become resilient to disruptions.
MAAGAP supports the Insurance Consciousness Week.
As we celebrate Insurance Consciousness Week, MAGAP encourages Filipinos to prioritize insurance in their financial planning. By understanding the benefits and options available, you can make informed decisions to safeguard your future and the future of your loved ones.
Let's work together to increase insurance awareness and penetration in the Philippines. To know more our products, you can visit: https://maagap.com/products
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MAAGAP is regulated by the Philippine Insurance Commission.
For financial consumer concerns, you may reach out to Insurance Commission by visiting their website at https://www.insurance.gov.ph/contact-us/