Covid-19 claims reached 326.6 million USD in the Philippines

According to the Insurance Commission (IC), Philippine insurers recorded a total amount of Covid-19 claims of 16.715 billion PHP (326.6 million USD), from the beginning of the pandemic until the end of 2021.

The majority of claims, namely 9.05 billion PHP (176.85 million USD), were covered by life insurance companies.

Health maintenance organizations, mutual benefit associations (MBAs) and non-life insurers spent respectively 6.45 billion PHP (126.04 million USD), 833 million PHP (16.2 million USD) and 382 million PHP (7.5 million USD).