Insurance in Philippines industry profile provides top-line qualitative and quantitative summary information including: market size (value 2010-14, and forecast to 2019). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Philippines insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2013 average exchange rates.
The Philippines insurance market is expected to generate total gross written premiums of USD 6.1bn in 2014, representing a compound annual growth rate (CAGR) of 24.9% between 2010 and 2014.
The life insurance segment is expected to be the market's most lucrative in 2014, with total gross written premiums of USD 4.7bn, equivalent to 77.6% of the market's overall value.
The performance of the market is forecast to decelerate, with an anticipated CAGR of 16.8% for the five-year period 2014-2019, which is expected to drive the market to a value of USD 13.3bn by the end of 2019.
Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in Philippines
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Philippines
Leading company profiles reveal details of key insurance market players' global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Philippines insurance market with five year forecasts
Macroeconomic indicators provide insight into general trends within the Philippines economy
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What was the size of the Philippines insurance market by value in 2014?
What will be the size of the Philippines insurance market in 2019?
What factors are affecting the strength of competition in the Philippines insurance market?
How has the market performed over the last five years?
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