Non-Life Insurance In The Philippines, Key Trends And Opportunities To 2018

Topics: Insurance, Investment, Economics Pages: 3 (684 words) Published: November 3, 2014
The report provides in-depth market analysis, information and insights into the Philippine non-life insurance segment, including:

The Philippine non-life insurance segment’s growth prospects by non-life insurance category Key trends and drivers for the non-life insurance segment
The various distribution channels in the Philippine non-life insurance segment The detailed competitive landscape in the non-life insurance segment in the Philippines Detailed regulatory policies of the Philippine insurance industry To Read Complete Report with Toc:

Executive summary

In terms of gross written premium, the Philippine non-life segment grew at a review-period CAGR of 11.3%. This growth was supported by the property and motor insurance categories, which are also the segment’s largest categories in terms of gross written premium. These categories registered double-digit growth during the review period, and contributed to the segment’s overall growth. The Philippine economy flourished due to the booming business processing outsourcing (BPO) and information technology (IT) sectors, which led to the rise of the middle-class population. The country’s high frequency of natural disasters created high awareness of insurance among Filipino consumers. Non-life insurers, however, face a major challenge to meet the huge damages caused by natural disasters, as well a large tax burden. These, along with increasing capital requirements for insurers, are projected to challenge the growth and consolidate the non-life segment over the forecast period. However, insurers’ efforts to provide innovative products for middle-class and niche savers, along with encouragement to save among Filipino consumers are projected to supplement the segment’s growth over the forecast period. Browse Full Report With Toc:


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