First and largest Filipino life insurer InLife completed the sale of its shareholdings in iCare HMO to Value-Based Health Care PF PTE. LTD. (VBHC) of Singapore, subject to regulatory approval.
This is part of InLife’s strategic move to streamline its portfolio and concentrate on life insurance and corporate solutions enabling more comprehensive solutions for clients nationwide.
“This realignment allows us to focus on areas where we can create the greatest value,” said InLife Executive Chairperson Nina D. Aguas. “We remain committed to providing world-class insurance solutions and delivering A Lifetime for Good to Filipinos.”
iCare HMO was founded in 1991 as a wholly owned subsidiary of InLife for over three decades. During this period, InLife supported the modernization of iCare HMO’s core systems, digital platforms, and operations. These initiatives improved profitability, and iCare rose from 12th in 2018 to 6th in 2023. iCare HMO’s strong performance attracted foreign investors, leading to a partial acquisition in 2023.
Today, iCare HMO serves more than one million members nationwide. It continues to build on the foundations established through its long history and experience in the Philippine healthcare sector.
