MANILA, Philippines — The House of Representatives prosecution panel on Wednesday presented witnesses from several insurance companies in the impeachment proceedings against Vice President Sara Duterte, seeking to establish its allegation that she failed to declare several insurance investments in her Statements of Assets, Liabilities and Net Worth (SALNs).
The prosecution alleged that Duterte and her husband, lawyer Manases “Mans” Carpio, held insurance investments and cash assets that were substantially higher than those reflected in their SALN declarations.
House prosecutor Lordan Suan first presented Juan Sotero “Teroy” Roman of FWD Insurance Corp., who testified about a P10.6 million lump-sum insurance investment by Carpio.
Roman said Carpio was the owner of the policy, which was purchased on May 16, 2024, with a premium of P10.6 million. The policy was valued at more than P13.2 million and included a cash-value feature that allowed funds to be withdrawn within as little as five days.
During direct examination, Suan asked whether money from an illegal source could appear legitimate if it were used to purchase an insurance product and later withdrawn as a payout.
Senate Presiding Officer Francis Escudero, however, said the question was speculative. Suan subsequently ended his direct examination.
During cross-examination by defense lawyer Carlo Joaquin Narvasa, Roman confirmed that a policyholder may name or change a beneficiary without informing the beneficiary.
He also explained that the insurance company uses indicators to detect possible money laundering and that a court order was required to terminate an account on certain circumstances.
The prosecution then presented Malu Salanguit, Manulife Philippines' head of the Manage and Review Value Stream.
Salanguit testified that Carpio had made a one-time payment for an insurance investment with Manulife that was valued at P610,000 as of 2025. Their minor child was named as the beneficiary.
She also testified that Duterte, as a policy owner, had paid an insurance premium of P528,000.
According to Salanguit, Duterte also owned a Manulife policy issued in October 2014, for which she paid total premiums of P400,000 and made an additional P128,000 top-up payment in 2019.
The prosecution next called lawyer Calvin Chua, chief legal, government relations and sustainability officer of Pru Life Insurance Corp. of UK.
Chua testified that Duterte owned two Pru Life insurance policies, while Carpio had three. Five other dependents were also covered by policies, according to his testimony.
Chua said the total premium paid for one of Duterte's policies was P1.2 million, while premiums for another exceeded P3.1 million.
Christine Cabradilla, policy changes head of BPI AIA Philippines, also testified about a dollar-denominated insurance investment owned by Carpio.
Cabradilla said Carpio owned an insurance investment with total premiums of $30,000 that was purchased in 2013.
Representatives from Allianz, BDO Securities and BDO Life were also expected to testify as the prosecution continued presenting evidence on the alleged insurance investments.
The testimony forms part of the prosecution's effort to establish that Duterte's SALN declarations did not fully reflect her family's financial interests and assets.
