The Government Service Insurance System (GSIS) reported a 21% increase in net income from operations, rising to PHP135.7 billion in 2024 from PHP112.1 billion in 2023. Total assets grew by 9.23% to PHP1.83 trillion, driven by strong investment returns and insurance operations. GSIS earned PHP13.27 billion from foreign exchange gains and PHP11.24 billion from global private equity. The agency also achieved a 98.6% loan collection efficiency and disbursed PHP315 billion in loans, benefiting over 1.5 million members. With a net worth of PHP62 billion, GSIS remains the largest state insurer.
GSIS NET INCOME JUMPS 21%, ASSETS REACH PHP1.83 TRILLION IN 2024
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