Banking & Insurance

The Philippines faces a large insurance protection gap that continues to expand, leaving the vast majority of its population financially vulnerable to life and health risks. According to the Philippine Life Insurance Association (PLIA), over 98 percent of insurable risks across life and property remain unprotected—an exposure estimated to be worth ₱24 trillion, or roughly ₱1.17 million per household.

In his State of the Nation Address (SONA), President Ferdinand Marcos Jr. spotlighted contentious issues surrounding rice prices, tariff adjustments, and cash incentives for farmers—drawing mixed reactions across sectors—and coinciding with intensifying competition in the power sector, particularly in Batangas.

In a landmark move with major corporate and commercial implications, a proposal has emerged to convert the Batangas I Electric Cooperative (BATELEC I) into a stock corporation under a joint venture with Manila Electric Company (Meralco).