MACAPAGAL, Pasay City — Strengthening its role in public asset protection for the third straight year, the Government Service Insurance System (GSIS) has once again outperformed its non-life insurance premium target—once again exceeding its goals and reinforcing its crucial role in protecting public assets nationwide.
In 2024, GSIS posted ₱10.5 billion in non-life insurance premiums, significantly surpassing its ₱8.9 billion target which follows its strong performance in 2023 with a ₱9.7 billion against its ₱6 billion target, and in 2022, with ₱6.84 billion production over a ₱6 billion goal.

According to GSIS president and general manager Jose Arnulfo 'Wick' Veloso, “these achievements reflect the growing trust of government agencies in GSIS as a reliable partner in risk management.”

“Our insurance programs are not just financial safeguards—they are strategic tools that enable agencies to recover faster from calamities and continue public service with minimal disruption,” GM Veloso proudly pointed out.

And to further enhance its capabilities, he disclosed that they are already collaborating with the Japan International Cooperation Agency (JICA), through a Technical Cooperation Project (TCP), in order to initiate efforts that focuses on improving GSIS's risk assessment models, refining its underwriting process and promoting the importance of insuring public properties.

Just recently, GSIS held the Second Seal of Protection Awards in recognition of government efforts to safeguard their assets and honoring local government units (LGUs) and national agencies (NAs) that have demonstrated exemplary commitment in securing their infrastructure through GSIS insurance.

As an added layer of protection for cities, GSIS now offers parametric insurance in addition to traditional indemnity insurance coverage which allows for the quick release of funds that LGUs can use for disaster recovery.

"As climate risks and other unforeseen events continue to threaten public infrastructure, we are committed to expand the reach of our insurance coverage, support post-disaster recovery efforts and strengthen partnerships with national and local government agencies," he asserted.

“We urge more agencies to insure their properties, with GSIS. Preparedness is no longer optional—it’s essential," Veloso added to conclude.