Oona Insurance Philippines has reported strong first-half results, with gross written premiums (GWP) rising 80% year-on-year and net income increasing 200%. The performance highlights the company’s ability to combine rapid expansion with disciplined underwriting and improving operating efficiency.
Less than four years after entering the Philippine market, Oona has also entered the country’s top 10 non-life insurers by net written premiums (NWP), strengthening its position as one of the industry’s fastest-growing players.
The results come as Oona prepares for its next stage of expansion. The group is actively evaluating potential acquisitions across Southeast Asia, with the Philippines remaining a key strategic market. The company aims to complement organic growth with selective acquisitions that can strengthen its long-term regional presence.
Expanding Through a Diversified Distribution Model
Oona’s growth has been supported by a multi-channel distribution strategy covering digital partnerships, agencies, brokers, bancassurance, and direct-to-consumer channels.
Digital partnerships have become an increasingly important part of the company’s strategy as consumers increasingly seek services through platforms they already use for everyday activities. At the same time, Oona continues to build on the strength of its agency, broker, and bancassurance networks.
The company has seen broad-based growth across several insurance categories, including motor, property, personal accident, and health insurance. The launch of its retail health insurance offering has further expanded its product portfolio and allowed Oona to address a wider range of customer protection needs.
Technology at the Center of Growth
Technology remains central to Oona’s strategy. Its digital platform enables integration with distribution partners while providing approximately 2,000 agents with tools to quote, issue, and service policies more efficiently.
By embedding insurance into partner customer journeys, the platform allows Oona to introduce new solutions faster while making insurance more accessible and easier to manage for customers.
Abhishek Bhatia, Founder and Group Chief Executive Officer of Oona Insurance, said the company’s transformation in the Philippines has involved modernizing technology, strengthening underwriting, expanding distribution, and reshaping the business.
“Entering the country’s top 10 non-life insurers while increasing net income by 200% demonstrates that the transformation is delivering results,” Bhatia said, adding that the company is now entering its next phase while selectively pursuing opportunities across Southeast Asia.
Meanwhile, Ninoy Rollan, President and Chief Executive Officer of Oona Insurance Philippines, emphasized the importance of partnerships and technology in the company’s growth.
“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.
With stronger financial performance, a broader product portfolio, and an increasingly technology-driven distribution model, Oona Insurance Philippines enters its next phase with a focus on continued growth and opportunities across the wider Southeast Asian insurance market.
