Recently released market study: Philippines Insurance Report Q4 2010

Oct. 16, 2010 - PRLog -- Writing in August 2010, we have been able to include final data for 2009 and to amend projections for the current year in order to take into account of results for H110 that have actually been released by major cross-border insurers in the Asia-Pacific. Total insurance premiums in the Philippines in 2009 amounted to PHP99,858mn. This included non-life premiums of PHP42,613mn and life premiums of PHP57,245mn. In 2014, the corresponding figures should be PHP196,182mn, PHP96,863mn and PHP99,319mn. In terms of the key drivers that underpin our forecasts, we are looking for non-life penetration to rise from 0.54% in 2009 to 0.75% in 2014. We envisage that life density will rise from US$14 per capita to US$24 per capita. BMI's proprietary Insurance Business Environment Rating for the Philippines is 51.4.

As in previous quarters, we provide a ranking of the major players in each of the two main segments as they are seen by the organisation providing the data (which, in practice, is usually the regulator or the trade association). In the Philippines the three largest non-life companies- in terms of gross written premiums - were Malayan Insurance Company, Prudential Guarantee & Assurance and BPI/MS Insurance Corp (FEB Mitsui Marine), whose market shares were 16.5%, 8.2% and 6.5% respectively. In the life segment, the leaders were Philam Life and General, Sun Life of Canada (Philippines) and Insular Life Assurance, whose market shares were 24.0%, 17.4% and 10.3% respectively. Over time, we hope to derive insights from observing how market shares change. We emphasise, though, that a decline in share of gross written premiums is not automatically a bad thing and is often the result of a corporate decision to focus on more profitable business lines.

We also provide a breakdown of the insurance sector by line - from the point of view of the regulator or the trade association. In the Philippines the largest non-life lines were fire, motor car and casualty. Over time, we should be able to use this information to bring greater sophistication to our forecasting process.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/87961_philippines_insurance_re...

Report Table of Contents:

Executive Summary
- Table: Overview Of The Philippines' Insurance Sector
- Key Insights on the Philippines' Insurance Sector
SWOT Analysis
- Philippines Insurance Industry SWOT
- Philippines Political SWOT
- Philippines Economic SWOT
- Philippines Business Environment SWOT
MetLife's Acquisition of ALICO
- Table: ALICO At A Glance
- Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%)
- Table: ALICO - A Market Leader In Japan
- Table: MetLife's Acquisition Of ALICO
- Table: MetLife And ALICO Combined
Asia Pacific Overview
- Table: Asia Pacific Non-Life Markets At A Glance, 2008-2010
- Table: Asia Pacific Life Markets At A Glance, 2008-2010
Projections and Forecasts
- Table: Insurance Premiums, 2007-2014
- Projections and Drivers of Growth
- Table: Growth Drivers, 2007-2014
Country Update
- Macroeconomic Outlook
- Philippines - Economic Activity
- Political Outlook
- Domestic Politics I
- Domestic Politics II
- Long-Term Political Outlook
Insurance Business Environment Rating
- Table: Philippines - Insurance Business Environment Indicators
- Table: Asia Pacific Insurance Business Environment Ratings
Regional Context
- Table: Non-Life Premiums In A Regional Context, 2009
- Table: Life Premiums In A Regional Context, 2009
Major Players in The Philippines' Insurance Sector
- Table: Principal Insurance Lines, 2008 (PHPmn)
- Table: Insurance Companies By Gross Written Premiums, 2008 (PHPmn)
Analysis of Regional Competitive Conditions
Local Company Profiles
- Insular Life
- Malayan Insurance
Regional Company Profiles
- AEGON
- 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 Principal
- Zurich Financial Services
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
Methodology
- Insurance Business Environment Ratings
- Table: Insurance Business Environment Indicators And Rationale
- Table: Weighting Of Indicators

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.