The insurance premiums written by the Government Service Insurance System hit P2.98 billion in the first quarter, up 12 percent from P2.65 billion a year ago.
It said that as of end-March, net income reached P3.3 billion, marking a 35-percent increase from P2.4 billion in first quarter of 2023. GSIS president and general manager Jose Arnulfo Veloso said the fund is aggressively campaigning for the protection of all government insurable assets and interests.“We protect the government’s budget and individual programs against unexpected insurable losses such as fire, earthquakes and typhoons. And more importantly, we are able to pool long-term funds and put them in investments to help grow the overall economy,” he said.
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