BIHL profits defy headwinds to P1.1bn

In a commentary accompanying the group’s recent results, directors said the financial year had begun with a lot of uncertainty regarding inflation and interest rates across the globe which negatively impacted investment markets. However, as the year progressed, it became increasingly clear that the pressures on central banks to raise interest rates further had substantially reduced.

BIHL’s main businesses are life insurance and asset management, with the former exposed to inflationary trends that affect the affordability for customers, and the latter, interest rate movements, which influence investment returns.