The Philippines has issued new rules that expand the range of investments allowed for insurance companies and similar entities. The Insurance Commission released the “Omnibus Guidelines on Investments” to simplify and update existing regulations.
The new rules apply to insurance companies, professional reinsurers, and mutual benefit associations, collectively known as ICREs.
Insurance Commissioner Reynaldo Regalado said the updated guidelines aim to help regulated firms respond better to market changes. At the same time, they ensure financial stability and protect policyholders’ interests.
The guidelines now allow additional investment types, including structured products and debt securities issued by supranational organizations. These investments no longer need prior approval from the Commission if they meet set conditions, such as minimum credit ratings or listings on recognized exchanges.
The circular also removes the prior approval requirement for some peso- and foreign currency-denominated investments. These must meet accepted market standards and undergo external reviews like credit ratings or exchange listings.
Commissioner Regalado said the changes are designed to reduce red tape and ease regulatory burdens while keeping proper risk controls in place.
Related topics:
