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Philippines Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
The Philippines Insurance Report
- Independent 5-year insurance industry forecast for the Philippines .
- Original insurance market research and insurance sector trend analysis for the Philippines ’s insurance industry.
- Competitive intelligence, regional insurance company rankings and SWOT analyses on international and domestic insurance companies in the Philippines .
The Philippines Insurance Report has been researched at source and features latest available data for annual insurance premiums and claims; assets and investments; 5-year insurance industry forecasts for the Philippines through end- ; insurance company rankings and competitive landscapes for local insurers and multinational insurance subsidiaries in the Philippines ; and analysis of the latest insurance industry developments, trends and regulatory changes in the Philippines .
Business Monitor International's the Philippines Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Philippine insurance industry.
Coverage
Philippines Insurance Sector At A Glance
Key insights into the insurance market, covering industry trends, key players and the regulatory environment, plus snapshots of life and non-life premium values in local currency and US$.
Evolution of the Philippine Insurance Market
Analysis of recent developments in the local insurance market, including data on life and non-life premium values, density and penetration, dating from 1998.
BMI 5-Year Industry Forecasts for the Philippines
Analysis of market growth drivers, including 5-year projections (to end- ) for premium values. Forecasts section also includes BMI risk ratings on local economy, politics and business environment. Industry indicators covered include:
Number of life and non-life insurance companies; total and per capita Property/Casualty premiums and claims; total and per capita Life/Health premiums and claims; total premium income; total claims/expenses; total operating expenses; total assets and investments; industry density (per capita premiums) and penetration (premiums as a portion of GDP)
BMI 5-Year Macroeconomic Forecast for the Philippines
BMI forecasts for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.
Insurance Company Rankings in the Philippines
Comparative company analyses and rankings by premium income (life and non-life).
Insurance Industry Competitive Landscape in Asia
A cross-border overview of key players and their market share across the region. Tables and graphs show country presence of multinationals throughout the region.
|
Philippines Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
Chapter - The Sector At A Glance |
| Table: Overview Of The Philippines''' Insurance Sector |
| Key Insights On The Philippines''' Insurance Sector |
Chapter - SWOT Analysis |
| Philippines Insurance Industry SWOT |
| Philippines Political SWOT |
| Philippines Economic SWOT |
| Philippines Business Environment SWOT |
Chapter - Development Of BMI'''s Insurance Reports |
| Comment ''“ The Global Financial Crisis |
| Table: Selected European Countries: Budget And Current Account, 2008 (as % of GDP) |
| Revision Of Data And Forecasts |
Chapter - Projections And Forecasts |
| Table: Premiums, 2006-2013 |
| Projections And Drivers Of Growth |
| Table: Growth Drivers, 2006-2013 |
Chapter - Country Update |
| Macroeconomic Outlook |
| Table: Philippines ''“ Economic Activity, 2006 ''“ 2013 |
| Domestic Politics |
Chapter - Insurance Business Environment Rating |
| Table: Philippines ''“ Insurance Business Environment Indicators |
| Table: Asia Insurance Business Environment Rankings |
Chapter - Regional Context |
| Table: Non-Life Premiums In A Regional Context, 2008 |
| Table: Life Premiums In A Regional Context, 2008 |
| Analysis Of Competitive Conditions |
| Regional Overview |
Chapter - Company Profiles |
| AEGON |
| AIG |
| Allianz |
| Aviva |
| AXA |
| Cardif |
| Fortis |
| Generali |
| Groupama |
| HDI-Gerling |
| HSBC Insurance |
| ING |
| Liberty Mutual |
| Manulife |
| MetLife |
| Prudential Financial |
| Prudential Plc |
| QBE |
| RSA |
| Sun Life Financial |
| The Hartford |
| The Principal |
| Zurich |
Chapter - Country Snapshot: Philippines Demographic Data |
| Section 1: Population |
| Table: Demographic Indicators, 2005-2030 |
| Table: Rural/Urban Breakdown, 2005-2030 |
| Section 2: Education And Healthcare |
| Table: Education, 2002-2005 |
| Table: Vital Statistics, 2005-2030 |
| Section 3: Labour Market And Spending Power |
| Table: Employment Indicators, 2001-2006 |
| Table: Consumer Expenditure, 2007-2012 (US$) |
| Table: Average Annual Manufacturing Wages, 2004-2006 |
Chapter - Methodology |
| Basis Of Projections |
| Insurance Business Environment Rating |
| Table: Insurance Business Environment Indicators And Rationale |
| Table: Weighting Of Indicators |
|
Philippines Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
Although real GDP growth surprised on the upside in Q408, with a 4.5% year-on-year (y-o-y) expansion beating a consensus forecast of a 3.5-3.8% increase and bringing full-year growth for 2008 to 4.6%, we see no reason to alter our 2.8% growth forecast for 2009. The slowdown is expected to be led by declines in private consumption and investment, with government spending forecast to accelerate and the contribution of net exports to be negligible.
Economic growth in the Philippines surprised on the upside in Q408, beating consensus expectations of a 3.5-3.8% y-o-y expansion to register real growth of 4.5%, bringing full-year growth for 2008 to 4.6%.
However, while this has underlined the resilience of the Philippine economy in the face of the current hostile environment, we remain sceptical concerning its ability to escape the unfolding global recession unscathed. As such, we retain our below consensus 2.8% growth forecast for 2009.
Private consumption remained buoyant in Q408, expanding by 4.5% y-o-y having posted growth of 4.1% and 4.4%, respectively, in the second and third quarters of the year. This added some 3.4pp to headline growth, and was driven in large part by the ongoing strength of remittances from Filipinos working overseas, which grew by 3.3% y-o-y and 10.5%, respectively, in October and November. However, these figures dragged year-to-date growth down to 15.0% y-o-y having reached a peak of 18.2% in July, and with global economic activity forecast to continue slowing over the coming quarters, remittances are set to follow suit.
Indeed, given that US$7.19bn of a total of US$15.02bn sent back to the Philippines by overseas workers came from the US, and that the world's biggest economy is forecast by BMI to contract by 2.3% in 2009, the likelihood of persistent remittance strength this year remains slim. This in turn bodes ill for the prospects of private consumption being able to support headline growth in 2009, as it has done in previous years and, as such, we are expecting private consumption – which accounts for around 77% of total GDP – to add just 0.8pp to full-year GDP growth this year as it registers just 1.0% growth in real terms. To put this in context, private consumption has grown on average by 5.3% over the past five years and has contributed on average 4.2pp to overall growth over the same timeframe.
In the Asia Pacific, we profile 23 companies. These are AEGON, AIG, Allianz, Aviva, AXA, Cardif, Fortis, Generali, Groupama, HDI-Gerling, HSBC Insurance, ING Group, Liberty Mutual, Manulife, MetLife, Prudential Financial, Prudential plc, QBE, RSA, Sun Life Financial, The Hartford, Principal Financial Group and Zurich Financial Services. We also look at various local firms that are active in the region; some of these companies rank, in terms of the premiums that they write, among the largest in the world.
In 2008, total premiums in the Philippines rose by 25% to PHP123,607mn. Non-life premiums rose by 7% to PHP42,889mn, while life premiums rose by 38% to an estimated PHP80,719mn.
Between now and the end of the forecast period, we expect that annual non-life premiums will grow by PHP33,909mn, while annual life premiums should grow by PHP192,999mn. Growth in non-life premiums should be driven by the general growth of nominal GDP plus a rise in non-life penetration from the current level of 0.56% to 0.75%. Growth in life premiums should be driven by the change in the overall population and a rise in life density from US$21.44 to US$70.00 per capita.
BMI's Insurance Business Environment Rating is 53.5.
|
Philippines Insurance Report |
Was: $1030.00 | |
| Now: $875.00 | ||
| You save: $155.00 (15%) |
Africa |
| Algeria, Egypt, Libya, Morocco, Nigeria, South Africa and Tunisia |
Asia |
| Australia, China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Singapore, South Korea, Taiwan, Thailand and Vietnam |
Caribbean |
| Bahamas, Barbados, Bermuda, Dominican Republic, Jamaica and Trinidad & Tobago |
Europe |
| Bulgaria, Croatia, Czech Republic, Estonia, Germany, Greece, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Ukraine and United Kingdom |
Latin America |
| Argentina, Brazil and Mexico |
Middle East |
| Bahrain, Iran, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Turkey and United Arab Emirates |
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