MANILA – The Philippine life insurance industry ranked second in ASEAN in terms of how closely aligned local regulations are with international standards.
The Milliman ASEAN Liberalization Index measures the level of development of insurance markets in the region, assessing each in terms of product development, distribution, investment, sophistication of capital regime, policyholder protection, foreign ownership, new licenses and talent mobility.
The Philippines ranked second only to Singapore.
“This is a clear indication that our life insurance industry regulatory regime is robust and that the industry is very much capable to go head to head with other life industries in ASEAN,” Insurance Commissioner Emmanuel Dooc said.
“We are better prepared than most of our neighbors and ready to face the challenges of the approaching ASEAN Economic Community integration,” he added.
Life insurance penetration in the Philippines stood at 1.2 percent last year.
“We are pleased to find our life insurance industry’s placement in the ASEAN rankings. This affirms that our rapidly growing sectors are underpinned by sound regulatory regimes and enabling environments,” Finance Secretary Cesar Purisima said. –Rain Castro, InterAksyon.com
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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