Insurance density of life insurance and MBA Philippines 2013-2023

Published by
Christy Balita,
Apr 8, 2025

The insurance density of life insurance and mutual benefit associations (MBA) in the Philippines amounted to approximately 2,921.9 Philippine pesos in 2023, according to preliminary data. The average spending by each individual on life insurance has increased overall since 2015.

Insurance density of life insurance and mutual benefit associations (MBA) in the Philippines from 2013 to 2023 (in 1,000 Philippine pesos)

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Release date

February 2025

Region

Philippines

Survey time period

2013 to 2023

Supplementary notes

*Preliminary figures.

Figures have been rounded.

One Philippines peso is equal to 0.017 U.S. dollars and 0.016 euros as of April 2025.

Figures prior to 2018 came from earlier reporting.

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