Microfinance reach in PH rose in ’16

Ben O. de Vera (Philippine Daily Inquirer) One of every four Filipinos is now covered by cheap microinsurance products, and the government aims to cover almost half of the population by the end of President Duterte’s term, Insurance Commissioner Dennis B. Funa said Tuesday. In a statement, Funa said the microinsurance penetration rate stood at 25.4 percent as of September last year, up 3.2 percent from the previous quarter. This translated to 26 million of the 103.5 million Filipinos covered by some form of microinsurance. “We are optimistic that the microinsurance penetration rate will increase up to 48.7 percent by […]