Filipinos are not pulling back from insurance and investing. They are becoming more selective.
As inflation, geopolitical tensions and market volatility cloud the economic outlook, consumers are shifting away from higher-risk products and toward health protection, financial stability and globally diversified investments, according to Manulife Philippines.
“The demand is always there. It’s just shifting,” Manulife Philippines President and Chief Executive Officer Rahul Hora said, describing a market where customers are increasingly prioritizing financial resilience over aggressive returns.
Hora said persistent inflation, higher fuel prices and geopolitical risks are weighing on household budgets, prompting many Filipinos, particularly those with shorter investment horizons, to favor products that offer greater certainty and protection against unexpected expenses.
Health insurance has emerged as one of the insurer’s fastest-growing businesses, reflecting growing awareness that a medical emergency can quickly derail long-term financial plans.
The trend mirrors a broader change in consumer behavior. Rather than viewing insurance as a product purchased only after accumulating wealth, more Filipinos are treating financial protection as the foundation of their financial planning.
Investment preferences are evolving as well.
Zedric Matubis, head of wealth sales at Manulife Investments, said recent market swings, fueled by tensions in the Middle East and the relatively weaker performance of Philippine financial markets, have encouraged more investors to look beyond local assets.
“The biggest change is that more Filipinos are now open to investing in offshore, diversified global strategies because they’re seeing more opportunities there,” Matubis said.
The shift suggests Filipino investors are becoming more sophisticated, increasingly spreading risk across global markets instead of concentrating investments at home.
For Manulife, the changing preferences reinforce rather than reshape its strategy.
“We are on the right path. We are doing the right things for our customers,” Hora said.
He said the company plans to accelerate investments across its insurance, health, wealth management and group benefits businesses as demand grows for integrated financial solutions.
The message from consumers is becoming clearer: in an uncertain world, financial success is no longer measured solely by higher returns, but by stronger protection, greater flexibility and the ability to weather whatever comes next.
