Recently published research from Business Monitor International, "Philippines Insurance Report Q3 2016", is now available at Fast Market Research
[ClickPress, Thu Jun 16 2016] We retain our positive view of the Philippines' insurance sector, which offers significant growth potential - and are not altering our forecasts this quarter. Life insurance should benefit from higher household incomes. Good pricing power on the part of property insurers (and increased volumes) will drive growth in that sub-sector and for the non-life segment as a whole. Both the life and the non-life segments should benefit from the generally favourable economic environment.
Key Updates And Forecasts:
We remain upbeat about the prospects for the life segment, and forecast steady growth in premiums of around 7% annually. The latest results indicate that the leading life companies have been enjoying profitable growth, in part because of improved investment income relative to 2014. 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.
Full Report Details at
Having substantially increased our forecasts for the non-life segment in Q216, we have maintained our forecasts unchanged this quarter. Key themes remain the generally favourable economic outlook, rising household incomes, increased appetite (from a low base) for property insurance and the rise in the number of vehicles on the Philippines' roads. We expect that pricing will remain disciplined and that higher claims costs will be passed on to customers.
The Philippines Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Philippines Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Philippine insurance industry.
Benchmark BMI's independent insurance industry forecasts for Philippines to test other views - a key input for successful budgeting and strategic business planning in Philippines's insurance market.
Target business opportunities and risks in Philippines through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
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