Market Research Reports, Inc. has announced the addition of “Life Insurance in Philippines, Key Trends and Opportunities to 2018” research report to their offering.
Lewes, DE -- (SBWIRE) -- 10/21/2014 -- The Philippine insurance industry recorded strong annual growth rates of 27.8% in 2012 and 31.0% in 2013. Industry growth was primarily driven by the life segment, which posted 36.4% growth in 2012 and 39.6% in 2013. Sales of life insurance registered healthy growth from 2010, primarily driven by the country’s rising middle-class population, increased urbanization and the underpenetrated life insurance segment. Other factors contributing to the segment’s robust growth in 2013 included the easing of bancassurance regulations by the central bank, and rising stock market returns. These drivers created demand for life insurance products, to which companies implemented strategic reforms such as expansion of distribution networks and providing innovative products to maximize profits.
Efforts by insurers to increase their market shares are projected to supplement the growing demand for life insurance over the forecast period (2013?2018). The country’s middle-class population is expanding, and, coupled with recovery in the global markets, is projected to support the growth of the life segment.
The report provides in-depth market analysis, information and insights into the Philippine life insurance segment, including:
- The Philippine life insurance segment’s growth prospects by life insurance category
- Key trends and drivers for the life insurance segment
- The various distribution channels in the Philippine life insurance segment
- The detailed competitive landscape in the life insurance segment in the Philippines
- Detailed regulatory policies of the Philippine insurance industry
This report provides a comprehensive analysis of the life insurance segment in the Philippines:
- It provides historical values for the Philippine life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key categories in the Philippine life insurance segment, along with market forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life insurance products in the Philippines.
- It profiles the top 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 life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities in the Philippine life insurance segment
- Assess the competitive dynamics in the life insurance segment
- Identify the growth opportunities and market dynamics in key product categories
- Gain insights into key regulations governing the Philippine insurance industry and its impact on companies and the market's future
- The Philippine insurance industry recorded strong annual growth rates of 27.8% in 2012 and 31.0% in 2013.
- Industry growth was primarily driven by the life segment, which posted 36.4% growth in 2012 and 39.6% in 2013.
- Sales of life insurance registered healthy growth from 2010, primarily driven by the country’s rising middle-class population, increased urbanization and the underpenetrated life insurance segment.
- In June 2012, the Philippine government amended the country’s insurance law, increasing minimum capital requirements for both life and non-life insurers
- According to the rules set by Bangko Sentral ng Pilipinas (BSP) – the nation’s central bank ? bancassurance standards (including abolishment of rules where in banks had to hold 5% stakes in insurance companies) were amended to enable insurers expand through the channel.
- Many M&As were recorded in 2011, 2012 and 2013. Over the forecast period, capital requirements will increase further according to the provisions of the law, and the Philippine life segment is expected to consolidate as insurers struggle to survive.
Spanning over 164 pages, 20 Tables and 165 Figures “Life Insurance in Philippines, Key Trends and Opportunities to 2018” report covering Key Facts and Events, Executive Summary, Introduction, Philippine Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channel, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Appendix. This report Covered 10 Companies - Sun Life of Canada ( Philippines ), Inc., Philippine American Life and General Insurance Company, Inc., Philippines Axa Life Insurance Corporation, Pru Life Insurance Corporation of UK, The Manufacturers Life Insurance Co. (Phils.), Inc., BPI-Philam Life Assurance Corporation, Sun Life Grepa Financial Inc., The Insular Life Assurance Co., Ltd, Manulife China Bank Life Assurance Corporation, PNB Life Insurance Co., Inc.
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Related Reports are
1st - Non-Life Insurance in Philippines, Key Trends and Opportunities to 2018 – See More at - http://www.marketresearchreports.com/timetric/non-life-insurance-philippines-key-trends-and-opportunities-2018
2nd - Personal Accident and Health Insurance in Philippines, Key Trends and Opportunities to 2018 – See More at - http://www.marketresearchreports.com/timetric/personal-accident-and-health-insurance-philippines-key-trends-and-opportunities-2018
3rd - Reinsurance in Philippines, Key Trends and Opportunities to 2018 – See More at - http://www.marketresearchreports.com/timetric/reinsurance-philippines-key-trends-and-opportunities-2018
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