Philippines Insurance Report Q4 2016

Publisher Name :
Date: 28-Sep-2016
No. of pages: 56

BMI View: We remain upbeat about the prospects for the Philippines' insurance sector. Both major

segments should benefit from the steady rises in household income and economic activity generally. In both

cases, premiums will be boosted by the development and distribution of innovative products. This quarter

we are revising our projections for the life segment upwards, to take account of the strong (and likely

persistent) demand for variable life products. In the non-life segment, we have taken a significantly more

conservative view of the prospects for property insurance. Nevertheless, we remain confident that the nonlife

segment as a whole will achieve solid growth through the forecast period.

Key Updates And Forecasts

? The latest results indicate that the leading life companies have been enjoying profitable growth, in part

because of improved investment income relative to 2014 and early 2015. Various drivers should support

the continued expansion of the life segment. These include growth in the number and wealth

of households that can afford life insurance. In the meantime, life insurers themselves will continue to

exploit strengths such as brand names, multi-channel distribution strategies, ease of access to the capital

that they need and product innovation know-how.

Philippines Insurance Report Q4 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (Philippines 2013-2020) 5
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Philippines 2013-2020) 11
Table: Life Insurance Claims (Philippines 2008-2013) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Philippines 2013-2020) 15
Table: Non-Life Insurance Claims (Philippines 2009-2013) 17
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums By Product Line (Philippines 2013-2020) 24
Insurance Risk/Reward Index 25
Asia Pacific Industry Risk/Reward Index 25
Table: Asia Pacific Insurance Risk/Reward Index Q416 26
Market Overview 27
Life Market Overview 27
Product Offering 27
Competitive Landscape 28
Table: Life Insurance Market, 2010-2014 (USDmn) 29
Non-Life Market Overview 30
Product Offering 30
Competitive Landscape 30
Table: Non-Life Market Share, 2010-2014 (USDmn) 31
Company Profile 33
AIA Group 33
AXA 36
Insular Life/MAPFRE Insular 39
Manulife Financial 42
Prudential plc 45
Sun Life Grepa Financial/Malayan Insurance 47
Methodology 50
Industry Forecast Methodology 50
Risk/Reward Index Methodology 53
Table: Indicators 55
Table: Weighting of Indicators 56

List of Tables

Table: Headline Insurance Forecasts (Philippines 2013-2020)
Table: Life Premiums (Philippines 2013-2020)
Table: Life Insurance Claims (Philippines 2008-2013)
Table: Non-Life Premiums (Philippines 2013-2020)
Table: Non-Life Insurance Claims (Philippines 2009-2013)
Table: Non-Life Insurance Premiums By Product Line (Philippines 2013-2020)
Table: Asia Pacific Insurance Risk/Reward Index Q416
Table: Life Insurance Market, 2010-2014 (USDmn)
Table: Non-Life Market Share, 2010-2014 (USDmn)
Table: Indicators
Table: Weighting of Indicators
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