Makati City: Manulife Philippines anticipates double-digit growth across key financial metrics this year, driven by a strong economy and a growing young population. “I won’t be able to share the exact number, but yes, we target a double-digit growth across our key financial metrics,” said Manulife Philippines president and chief executive officer Rahul Hora in a briefing in Makati City on Thursday.

According to Philippines News Agency, data from the Insurance Commission showed that Manulife Philippines’ net income reached PHP2.77 billion in 2024, up 46.2 percent from PHP1.89 billion in 2023. Premium income also rose to PHP15.83 billion from PHP15.55 billion. New Business Annual Premium Equivalent (NBAPE) also increased by 8.7 percent to PHP2.86 billion.

“We do expect that 2025 and even our forecast for the future years continues to be positive and we are aiming to continue growing at a faster rate moving forward,” said Hora. Hora remains optimistic about sustained growth, citing the Philippines’ expanding young consumer base and improving economic conditions.

“The Philippines is a market which has a lot of young people for whom our products are extremely relevant. That market on a year-on-year basis keeps growing,” he further said. “The economy of the country continues to do well which means people are going to become more and more richer and hence disposable income for them will increase. So all those factors are contributing to the growth in the industry,” he added.

Manulife continues to focus on educating millennials and the Gen Z on early financial planning to secure their future.