The Government Service Insurance System (GSIS) of the Philippines has inaugurated its latest Non-Life Insurance Hub in Quezon City, finalising the expansion of its dedicated service centres under the national “Ginhawa Insure, Para Sure” branding.
This move supports GSIS’s mandate to provide comprehensive insurance coverage for government assets and extends access to personal insurance services for eligible members.
Located within the GSIS branch in Quezon City, the hub is intended to serve as a centralised point for both institutional and individual policyholders.
It provides assistance with GSIS’s existing non-life insurance lines – motor vehicle, fire, and personal accident coverage – available to individual government employees and their qualified dependents.
“The insurance hub is intended to make our services more accessible and responsive to the agencies and local governments. Quezon City is a strategic location that allows us to support more institutions and protect more public assets,” said GSIS president and general manager Wick Veloso (pictured centre) during the launch.
The new hub will also handle transactions related to government asset insurance, including policy issuance, renewals, and claims for buildings, official vehicles, and equipment.
This is in line with Republic Act No. 656, which mandates GSIS as the sole insurer for government property in the Philippines.
Ricardo Bering, executive director of the House of Representatives’ Administrative Management Bureau, remarked that the expansion reflects the agency’s operational improvements.
GSIS reported strong growth in non-life insurance premiums, with PHP7.59 billion in gross premiums written from January to May 2025, an increase of 11.9% year-over-year.
The 2024 full-year total stood at PHP10.5 billion, surpassing the agency’s original projection of PHP8.9 billion.
Veloso emphasised that the new hub reinforces the agency’s ability to meet increasing demand.
“As risks become more complex, government institutions need timely and reliable insurance solutions. This hub strengthens our commitment to provide efficient protection, right where it’s needed,” he said.
The launch coincides with an upward trend in the Philippine insurance industry during the first quarter of 2025 (Q1 2025).
Based on preliminary data from the Insurance Commission (IC), total premium income across life, non-life, and mutual benefit sectors rose to PHP124.17 billion, a 14.41% year-on-year increase.
Insurance penetration, defined as total premiums as a percentage of GDP, improved to 1.89% as of March 31, up from 1.78% in the same period of 2024.
Insurance density, which reflects per capita premium contribution, climbed 13.4% to PHP1,094.94.
IC Commissioner Reynaldo Regalado attributed the growth to increased premium activity that outpaced the 0.87% population rise and GDP expansion.
The non-life insurance segment posted notable increases in financial and underwriting performance.
Net premiums written rose 19.35% year-on-year to PHP20.27 billion.
Motor car policies remained the dominant line, contributing PHP7.97 billion, followed by fire insurance with PHP3.81 billion, which recorded a 21.91% increase.
Total assets of non-life insurers reached PHP381.66 billion, reflecting a 4.88% year-over-year growth.
Invested assets also expanded to PHP187.29 billion, with most funds allocated to held-to-maturity instruments, time deposits, and available-for-sale securities.
Net income for the segment grew 14.63% to PHP2.89 billion, buoyed by underwriting improvements and rising premiums.
