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Life Insurance in the

Philippines, Key Trends and


Opportunities to 2017
Reportstack
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Summary

The Philippines has one of the fastest-growing and most promising life insurance
segments in Southeast Asia. During the reiew period !"##$-"#%"&' the segment
recorded a compound annual growth rate !CA(R& of %).*+ and alued P,P%*#.)
-illion !.S/*.% -illion& in "#%". The segment was dominated -y indiidual life and
term life insurance products' which collectiely accounted for $"+ of the
segment0s written premiums in "#%". Significant growth in unit-linked products was
also recorded due to changing consumer preferences. The life segment is
e1pected to e1pand further oer the forecast period' drien -y the country0s
growing economy' the increasing penetration of life insurance products and
upcoming regulatory reforms. The rising popularity of unit-linked products in
particular is e1pected to drie forecast-period growth in the segment.
Scope

2t proides historical alues for the Philippine life insurance segment for the report0s
"##$-"#%" reiew period and forecast figures for the "#%"-"#%3 forecast period

2t offers a detailed analysis of the key su--segments in the Philippine life insurance
segment' along with market forecasts until "#%3

2t coers an e1haustie list of parameters' including written premium' incurred loss'


loss ratio' commissions and e1penses' com-ined ratio' frauds and crimes' total
assets' total inestment income and retentions

2t analyses the arious distri-ution channels for life insurance products in the
Philippines

.sing Porter0s industry-standard 45ie 5orces6 analysis' it details the competitie


landscape in the Philippines for the life insurance segment

2t proides a detailed analysis of the reinsurance segment in the Philippines and its
growth prospects

2t profiles the top life insurance companies in the Philippines and outlines the key
regulations affecting them
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7ey 8enefits

9ake strategic -usiness decisions using in depth historic and forecast market data
related to the Philippine life insurance segment and each category within it

.nderstand the demand-side dynamics' key market trends and growth opportunities
within the Philippine life insurance segment

Assess the competitie dynamics in the life insurance segment' along with the
reinsurance segment

2dentify the growth opportunities and market dynamics within key product categories

(ain insights into key regulations goerning the Philippine insurance segment and its
impact on companies and the market:s future
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7ey ,ighlights

The Philippines has one of the fastest-growing and most promising life insurance
segments in Southeast Asia

The penetration of life insurance is low in the Philippines' at %.";+ of (DP in


"#%". This proides ample growth opportunities for life insurers in the country

During the reiew period !"##$-"#%"&' the segment recorded a compound annual
growth rate !CA(R& of %).*+ and alued P,P%*#.) -illion !.S/*.% -illion& in "#%"

Agencies formed the largest distri-ution channel in the Philippines during the
reiew period' and accounted for 3#.)+ of life insurance written premiums
generated in "#%"

The insurance industry of the Philippines is superised and regulated -y the


2nsurance Commissioner of the Philippines' according to the rules and regulations
of the 2nsurance Code !enacted in %<3;&

The life segment is highly concentrated' with the %# leading companies collectiely
accounting for $$.;+ of the segment0s written premiums in "#%"
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Companies 9entioned

Sunlife of Canada !Philippines&' 2nc.

Pru =ife 2nsurance Corp. of .7

Philippine American =ife > (eneral 2ns. Co. !Philam&

Philippine A1a =ife 2nsurance Corp

8P2-Philam =ife Assurance Corp.' 2nc.

2nsular =ife Assce Co.' =td

The 9anufacturers =ife 2nsurance Co. !Phils&' 2nc.

Sun =ife (repa 5inancial' 2nc.

9anulife China 8ank =ife Assurance Corp.

P?8 =ife 2nsurance' 2nc.


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Contact
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