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Philippines Insurance Report Q1 2014: New research report available at Fast Market Research

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2013-12-25 22:18:08 - New Financial Services research report from Business Monitor International is now available from Fast Market Research

Developments through H113 confirm that the life segment is growing very rapidly, and should continue to do so. Economic growth is boosting the fortunes of the non-life segment: however downwards pressures on prices and margins remain a challenge.

It is clear that life density is growing rapidly, with the result that the life segment should be able to sustain double-digit growth (if from a base that is low by most metrics) for some years. The development of the segment is in part due to the generally positive economic environment. It is also due to the ongoing improvement in perceptions of risk attached to the Philippines. Most crucially, though, the growth of life insurance is due to the companies themselves and the

initiatives that they are undertaking. The segment is dominated by subsidiaries and affiliates of major regional or global multi-nationals, all of whom have access to the capital that they need. Together with Insular Life, the mutual company that is the leading indigenous life insurer, the major players are actively developing new and attractive products. Most of the majors distribute through multiple channels, and have built successful and substantial bancassurance partnerships.

Full Report Details at
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The Philippines remains at an early stage of a transition from a situation where the non-life segment consists of dozens of tiny, undercapitalised firms. As is the case in some other South East Asian countries (and in the Middle East) it is not obvious that many of these companies have a clear competence in insurance. The decrease in non-life penetration in past years has been a clear sign of a lack of discipline in pricing risks and/or a lack of pricing power. Minimum capital requirements are being increased - as a part of the preparation for 2015, when the Association of Southeast Asian Nations (ASEAN) Free Trade Agreement (AFTA) could result in much higher competition from other companies that are based elsewhere in the region. In practice, we are not certain that other ASEAN-based non-life insurers will see the opportunities in the Philippines as being more attractive than those at home. However, we remain of the view that it would be extraordinary if there is not a wave of mergers and acquisitions over the next two years. There could also be very substantial consolidation in the life segment.

Report Table of Contents:

BMI Industry View
- Table: Total Premiums 2010-2017
- Insurance
- Political
- Economic
- Business Environment
Industry Forecast
- Life
- Table: Total Life Premiums 2010-2017
- Non-Life
- Table: Total Non-Life Premiums 2010-2017
Industry Risk Reward Ratings
- Asia Pacific Industry Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
- Philippines Insurance Risk/Reward Ratings
- Table: Philippines Insurance Risk/Reward Ratings
Market Overview
- Life Sector Update
- Non-Life Sector Update
Industry Trends And Developments
- Life Growth Drivers and Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics 2010-2017
- Non-Life Growth Drivers and Risk Management Projections
- Macroeconomic Outlook
- Table: Philippines - Economic Activity
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare Sector
- Health Insurance
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years, 2010-2017
- Motor
- Table: Insurance Key Drivers, Autos 2010-2017
Competitive Landscape
- Philippines Competitive Landscape
- Asia Pacific Competitive Landscape
Company Profile
- AIA Group
- American International Group (AIG)
- HSBC Insurance
- Insular Life/MAPFRE Insular
- Manulife Financial
- Prudential plc
- Sun Life Grepa Financial/ Malayan Insurance
- Sun Life Financial
Regional Overview
- Asia Life Sector Overview
- Table: Asia Pacific Life Premiums, 2010-2017 (US$mn)
- Asia Non-Life Sector Overview
- Table: Asia Pacific's Non Life Premiums, 2010-2017 (US$mn)
Demographic Forecast
- Demographic Outlook
- Table: The Philippines' Population By Age Group, 1990-2020 ('000)
- Table: The Philippines' Population By Age Group, 1990-2020 (% of total)
- Table: The Philippines' Key Population Ratios, 1990-2020
- Table: The Philippines' Rural And Urban Population, 1990-2020
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Insurance Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Bill Thompson
Phone: 18008448156

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