GOVERNMENT Service Insurance System (GSIS) saw a 15% increase in gross premiums written in its nonlife insurance business last year, it said in a statement on Sunday. READ:
The Government Service Insurance System headquarters in Pasay, Philippines. May 28, 2012. — BW FILE PHOTO
Its gross nonlife premiums written were at P6.8 billion in 2022, which GSIS said was a record. This was up from P5.9 billion in 2021.“With a net worth of P41 billion in 2022, GSIS is now the biggest nonlife insurer in the country,” it said. It offers coverage for fire, engineering, marine hull, marine cargo, aviation, bonds, motor car, personal accident, contractors’ all risks, as well as comprehensive general liability insurance.
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