Microinsurance coverage drops in Q1

FEWER individuals were covered by microinsurance as of the end Insurance Commission showed on Wednesday.

The preliminary number – which the IC said was based on - ulators – was that of 26.6 million individuals under microinsurance compared to the end of last year.

The commission did not offer an explanation for the drop in

- missioner Dennis Funa said mu for the bulk of covered individuals.

market share in terms of number - - ed to a total of P850.5 million in he said.

- - dividuals with a total premium

Funa said the life insurance sec year increase in terms of the num

he noted.

million as of end-March compared to a year earlier.

- ance sector posted a decline of lives covered to 2.2 million.

-

The insurance industry posted a - riod.