MANILA, Philippines — The health maintenance organization (HMO) sector’s bottom line soared by 660.36 percent to P6.77 billion during the first nine months of 2020 as sales inched up amid the Covid-19 pandemic.
The latest Insurance Commission (IC) data showed 24 HMO firms’ total net income as of end-September last year jumped from P890.2 billion a year ago.
Their total revenues grew 4.12 percent to P38.27 billion from a year ago’s P36.76 billion.
Last year, Insurance Commissioner Dennis B. Funa attributed increasing sales to Filipinos “increasingly recognizing the value of availing HMO products as part of health protection” during the pandemic.
Total assets climbed 32.93 percent to…
Keep on reading: HMO sales up amid pandemic