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Non-Life Insurance in the Philippines, Key Trends and Opportunities to 2020

Non-Life Insurance in the Philippines, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in the Philippines, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Philippine non-life insurance segment, and a comparison of the Philippine insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Philippine economy and demographics, explains the various types of natural hazard and their impact on the Philippine insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in the Philippines, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Philippine non-life insurance segment, including:

  • The Philippine non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Philippine economy and demographics
  • A comparison of the Philippine non-life insurance segment with its regional counterparts
  • The various distribution channels in the Philippine non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Philippine insurance industry
  • Details of the competitive landscape in the non-life insurance segment in the Philippines
  • Details of regulatory policy applicable to the Philippine insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in the Philippines:
  • It provides historical values for the Philippine non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Philippine non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Philippine non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in the Philippines.
  • It analyzes various natural hazards and their impact on the Philippine insurance industry
  • It profiles the top non-life insurance companies in the Philippines, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Philippine non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Philippine non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Philippine insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Philippine non-life insurance segment expanded during the review period, at a review-period CAGR of 11.9%.
  • Property insurance was the largest category in the non-life segment, and accounted for 52.9% of the segment’s gross written premium in 2015.
  • Bancassurance is the most popular insurance distribution channel in the Philippines, due in part to the Republic Act No. 10607, which was signed into law on August 15, 2013.
  • The non-life segment is moderately concentrated, with the 10 leading companies accounting for 65.0% of the segment’s gross written premiums in 2015.


  • Key Facts and Highlights
    • Table Philippine Non-Life Insurance - Key Facts, 2015
    • Table Philippine Non-Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Philippine Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Philippine Non-Life Insurance - Gross Written Premium (PHP Billion and US$ Billion), 2011-2015
        • Table Philippine Non-Life Insurance - Penetration (%), 2011-2015
        • Table Philippine Non-Life Insurance - Gross Written Premium (PHP Billion and US$ Billion), 2015-2020
        • Table Philippine Non-Life Insurance - Penetration (%), 2015-2020
        • Table Philippine Non-Life Insurance - Premium per Capita (PHP and US$), 2011-2015
        • Table Philippine Non-Life Insurance - Premium per Capita (PHP and US$), 2015-2020
      • Profitability
        • Table Philippine Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Philippine Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Philippine Non-Life Insurance - Total Assets (PHP Billion and US$ Billion), 2011-2015
        • Table Philippine Non-Life Insurance - Total Assets (PHP Billion and US$ Billion), 2015-2020
        • Table Philippine Non-Life Insurance - Total Investment Income (PHP Billion and US$ Million), 2011-2015
        • Table Philippine Non-Life Insurance - Total Investment Income (PHP Billion and US$ Million), 2015-2020
        • Table Philippine Non-Life Insurance - Investment Portfolio (PHP Billion), 2011-2015
        • Table Philippine Non-Life Insurance - Investment Portfolio (PHP Billion), 2015-2020
  • Outlook by Category
    • Table Philippine Non-Life Insurance - Gross Written Premium by Category (PHP Billion), 2011-2015
    • Table Philippine Non-Life Insurance - Gross Written Premium by Category (PHP Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Philippine Property Insurance - Gross Written Premium by Sub-Category (PHP Billion), 2011-2015
        • Table Philippine Property Insurance - Gross Written Premium by Sub-Category (PHP Billion), 2015-2020
      • Profitability
        • Table Philippine Property Insurance - Loss Ratio (%), 2011-2015
        • Table Philippine Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
      • Premium
        • Table Philippine Motor Insurance - Gross Written Premium by Sub-Category (PHP Billion), 2011-2015
        • Table Philippine Motor Insurance - Gross Written Premium by Sub-Category (PHP Billion), 2015-2020
      • Profitability
        • Table Philippine Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Philippine Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Philippine Transport Network - Global Rankings
      • Premium
        • Table Philippine Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (PHP Billion), 2011-2015
        • Table Philippine Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (PHP Billion), 2015-2020
      • Profitability
        • Table Philippine Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Philippine Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Agencies
      • Bancassurance
      • Brokers
      • Direct marketing
      • E-commerce
      • Other Distribution Channels
  • Natural Hazards
    • Table Philippine Average Annual Loss by Hazard, 1990-2014
    • Table Philippine Worst Disasters in Terms of Number of Casualties
    • Storms
    • Floods
    • Earthquakes
      • Table Philippine Biggest Earthquakes in Terms of Magnitude
    • Landslides
    • Volcanic Eruptions
    • Exposure
      • Table Philippine All Natural Catastrophes in 2013 and 2014
  • Competitive Landscape
    • Table Philippine Non-Life Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Malayan Insurance Company Inc. - company overview
        • Table Malayan Insurance Co., Inc., - Key Facts
        • Table Malayan Insurance Company Inc., - Key Financials (PHP Million), 2011-2015
      • Prudential Guarantee & Assurance Inc. - company overview
        • Table Prudential Guarantee & Assurance Inc. - Key Facts
        • Table Prudential Guarantee & Assurance Inc. - Key Financials (PHP Million), 2011-2015
      • Pioneer Insurance and Surety Corporation - company overview
        • Table Pioneer Insurance and Surety Corporation - Key Facts
        • Table Pioneer Insurance and Surety Corporation - Key Financials (PHP Million), 2011-2015
      • BPI/MS Insurance Corporation - company overview
        • Table BPI/MS Insurance Corporation - Key Facts
        • Table BPI/MS Insurance Corporation - Key Financials (PHP Million), 2011-2015
      • Charter Ping An Insurance Corporation - company overview
        • Table Charter Ping An Insurance Corporation - Key Facts
        • Table Charter Ping An Insurance Corporation - Key Financials (PHP Million), 2011-2015
  • Governance, Risk and Compliance
    • Table The Philippines - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table The Philippines - Life Insurance Regulatory Framework
      • Property insurance
        • Table The Philippines - Property Insurance Regulatory Framework
      • Motor insurance
        • Table The Philippines- Motor Insurance Regulatory Framework
      • Liability insurance
        • Table The Philippines - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
        • Table The Philippines - Premiums for Motor Third-party Liability Insurance
      • Passenger personal accident insurance (PPAI) for public transport vehicles and ferry operators
        • Table The Philippines - Premium for Passenger Personal Accident Insurance
        • Table The Philippines - Benefits of Passenger Personal Accident Insurance
      • Insurance coverage for ship passengers and cargo
        • Table The Philippines - Benefits of Insurance Coverage for Ship Passengers and Cargo
      • Worker's compensation
      • National health insurance
      • Insurance cover for overseas Filipino workers
        • Table The Philippines - Premiums for Reserve Computation
      • Professional indemnity insurance for insurance and reinsurance brokers
      • Civil liability insurance for businesses
      • Oil pollution insurance
        • Table The Philippines- Liability Limits of Oil Pollution Insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • The Insurance Commission
      • The Philippine Life Insurance Association
      • The Philippine Insurers and Reinsurers Association
    • Non-Admitted Insurance Regulations
      • Overview
        • Table The Philippines - Treaty and Premium Cession Limits for Outward Reinsurance Arrangements for Non-life Insurers
        • Table The Philippines - Financial Strength Rating
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
        • Table The Philippines - Insolvency Regulations
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table The Philippines - Stamp Taxes on Life Insurance Policies
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table The Philippines - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Philippine Insurance Industry - Policies and Premium, 2011-2015
      • Table Philippine Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Philippine Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Philippine Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Philippine Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Philippine Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Philippine Non-Life Insurance - Property Insurance, 2011-2015
      • Table Philippine Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Philippine Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Philippine Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Philippine Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Philippine Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Philippine Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Philippine Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Philippine Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Philippine Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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