Oona Philippines Enters Top 10 Non-Life Insurers as Net Income Jumps 200%

The insurer reported an 80% increase in gross written premiums in the first half of 2026 as it strengthens its Philippine operations and explores further growth opportunities across Southeast Asia.

Oona Insurance Philippines has entered the country’s Top 10 non-life insurers by net written premiums less than four years after entering the local market, supported by strong premium growth and higher profitability.

For the first half of 2026, the company reported an 80% year-on-year increase in gross written premiums, while net income rose 200%.

The performance reflects Oona’s continued expansion in the Philippines as the company strengthens its product portfolio, distribution network, and technology platform.

The Philippines is also expected to play an important role in Oona Insurance Group’s broader Southeast Asian growth strategy, with the company evaluating potential acquisitions that could complement its organic expansion in the region.

Building a stronger Philippine insurance business

Oona Insurance Founder and Group Chief Executive Officer Abhishek Bhatia said the company has spent the past four years modernizing its technology, strengthening underwriting, expanding distribution, and transforming its Philippine operations.

“Entering the country’s top 10 non-life insurers while increasing net income by 200% demonstrates that the transformation is delivering results,” Bhatia said.

He added that Oona intends to build on the capabilities developed in the Philippines as the group explores selective opportunities to expand further across Southeast Asia.

Oona currently operates in the Philippines and Indonesia.

Growth across motor, property, health, and personal accident insurance

The company said its first-half performance was supported by broad-based growth across its portfolio, including motor, property, personal accident, and health insurance.

Oona has also expanded its retail health insurance offerings as it seeks to address a wider range of customer protection needs.

Its distribution network now spans digital partnerships, insurance agencies, brokers, bancassurance, and direct-to-consumer channels.

Digital partnerships are becoming an increasingly important part of the company’s strategy, allowing insurance products to be integrated into platforms and services customers already use for transactions, travel, and other everyday activities.

At the same time, Oona continues to strengthen its traditional agency, broker, and bancassurance businesses.

Technology supports around 2,000 agents

Technology is also playing a central role in Oona’s expansion.

The company operates a technology platform that allows integration with distribution partners while providing approximately 2,000 agents with digital tools to quote, issue, and service insurance policies.

The system is designed to make it easier for Oona and its partners to introduce insurance products within existing customer journeys while improving the speed and efficiency of policy servicing.

Ninoy Rollan, President and Chief Executive Officer of Oona Insurance Philippines, said partnerships have been central to the company’s growth in the country.

“Over the past four years, we’ve built a business by combining the reach of our partners with technology that makes insurance simpler to integrate, distribute and service,” Rollan said.

He added that the expansion of Oona’s product portfolio, including retail health insurance, has helped create a more diversified business.

Philippines remains a strategic market

The Philippines remains one of Oona Insurance Group’s key markets as the company prepares for its next stage of regional growth.

Alongside continued organic expansion, the group said it is actively evaluating acquisition opportunities across Southeast Asia as part of its buy-and-build strategy.

For Filipino customers and distribution partners, Oona’s continued expansion could mean a broader range of insurance products and more digitally integrated ways to access protection.

Its entry into the country’s Top 10 non-life insurers also marks an important milestone for a company that began operating under the Oona brand only in 2022.

As competition and digital adoption continue to reshape the insurance industry, Oona is positioning its Philippine operations as an important foundation for its longer-term Southeast Asian ambitions.