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Non-Life Insurance in the Philippines, Key Trends and Opportunities to 2017 - Product Image

Non-Life Insurance in the Philippines, Key Trends and Opportunities to 2017

  • Published: November 2013
  • Region: Philippines
  • 269 pages
  • Timetric

The report provides in depth market analysis, information and insights into the Philippine non-life insurance segment, including:
- The Philippine non-life insurance segment’s growth prospects by non-life insurance categories
- Key trends and drivers for the non-life insurance segment
- The various distribution channels in the Philippine non-life insurance segment
- Detailed competitive landscape of the non-life insurance segment in the Philippines
- Detailed regulatory framework of the Philippine insurance industry
- A description of the non-life reinsurance segment in the Philippines
- Porter's Five Forces Analysis of the non-life insurance segment
- Benchmarking section on the Philippine non-life insurance segment in comparison to other countries in the Southeast Asian region

Summary
The Philippine non-life insurance segment grew in written premium value from PHP25.7 billion (US$0.6 billion) in 2008 to PHP46 billion (US$1.1 billion) in 2012, at a compound annual growth rate (CAGR) of 15.7% during the review period (2008–2012). This was supported by the country’s economic growth, expanding construction and automobile industries READ MORE >

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Methodology
3 Regional Market Dynamics
3.1 Overview
3.2 Market Trends
3.3 Market Size
4 Non-Life Insurance Segment- Regional Benchmarking
4.1 Scale and Penetration
4.1.1 Total segment gross written premium
4.1.2 Premium per capita
4.1.3 Non-life insurance penetration as a percentage of GDP
4.2 Growth
4.2.1 Gross written premium
4.2.2 Gross written premium per capita
4.3 Efficiency and Risk
4.3.1 Loss ratio
4.3.2 Combined ratio
4.3.3 Incurred losses per capita
4.3.4 Incurred losses as a share of GDP
5 Philippine Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008-2017
5.2 Key Industry Trends and Drivers
6 Non-Life Insurance Outlook
6.1 Non-Life Insurance Growth Prospects by Category
6.1.1 Property insurance
6.1.2 Fire and allied perils insurance
6.1.3 Engineering insurance
6.1.4 Agriculture insurance
6.1.5 Other property insurance
6.2 Motor Insurance
6.2.1 Motor hull insurance
6.2.2 Motor third-party insurance
6.3 General Third-Party Insurance
6.4 Marine, Aviation and Transit Insurance
6.4.1 Marine insurance
6.4.2 Marine hull insurance
6.4.3 Aviation insurance
6.4.4 Transit insurance
7 Analysis by Distribution Channels
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-Commerce
7.5 Brokers
7.6 Other Channels
8 Porter's Five Forces Analysis - Philippine Non-Life Insurance Segment
8.1 Bargaining Power of Supplier: Medium to High
8.2 Bargaining Power of Buyer: Low to Medium
8.3 Barriers to Entry: Medium
8.4 Intensity of Rivalry: Medium to High
8.5 Threat of Substitutes: Low
9 Reinsurance Growth Dynamics and Challenges
9.1 Reinsurance segment size, 2008-2017
9.2 Reinsurance segment size by type of insurance, 2008-2017
10 Governance, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation Trends by Type of Insurance
10.2.1 Life insurance regulatory trends
10.2.2 Property insurance regulatory trends
10.2.3 Motor insurance regulatory trends
10.2.4 Marine, aviation and transit insurance regulatory trends
10.2.5 Health insurance regulatory trends
10.3 Compulsory Insurance
10.3.1 Worker's compensation insurance
10.3.2 Motor third party liability insurance
10.3.3 Compulsory health insurance
10.4 Supervision and Control
10.4.1 International Association of Insurance Supervisors
10.4.2 The Insurance Commissioner
10.5 Non-Admitted Insurance Regulatory Trends
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market Practices
10.5.4 Fines and Penalties
10.6 Company Registration and Operations
10.6.1 Types of Insurance Organisation
10.6.2 Establishing a local company
10.6.3 Foreign Ownership
10.6.4 Types of License
10.6.5 Capital Requirements
10.6.6 Solvency Margins
10.6.7 Reserve Requirements
10.6.8 Investment Regulations
10.6.9 Statutory Return Requirements
10.6.10 Policy Terms and Conditions
10.7 Taxation
10.7.1 Insurance Premium or Policy Taxation
10.7.2 Corporate Tax
10.7.3 VAT
10.7.4 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to Court
10.8.3 Alternative Dispute Resolution (ADR)
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Philippine Non-Life Insurance Segment
11.3 Comparison of the Top Five Insurers
11.3.1 Gross written premium
11.3.2 Outwards reinsurance expense
11.3.3 Net earned premiums
11.4 Malayan Insurance Co., Inc. - Company Overview
11.4.1 Malayan Insurance Co., Inc. - key facts
11.4.2 Malayan Insurance Co., Inc. - key financials
11.5 Prudential Guarantee and Assurance, Inc. - Company Overview
11.5.1 Prudential Guarantee and Assurance, Inc. - key facts
11.5.2 Prudential Guarantee and Assurance, Inc. - key financials
11.6 Pioneer Insurance & Surety Corporation - Company Overview
11.6.1 Pioneer Insurance & Surety Corporation - key facts
11.6.2 Pioneer Insurance & Surety Corporation - key financials
11.7 BPI/MS Insurance Corporation - Company Overview
11.7.1 BPI/MS Insurance Corporation - key facts
11.7.2 BPI/MS Insurance Corporation - key financials
11.8 Standard Insurance Co. Inc. - Company Overview
11.8.1 Standard Insurance Co. Inc. - key facts
11.8.2 Standard Insurance Co. Inc. - key financials
11.9 Chartis Philippines Insurance Inc. - Company Overview
11.9.1 Chartis Philippines Insurance Inc. - key facts
11.9.2 Chartis Philippines Insurance Inc. - key financials
11.1 Charter Ping An Insurance Corporation - Company Overview
11.10.1 Charter Ping An Insurance Corporation - key facts
11.10.2 Charter Ping An Insurance Corporation - key financials
11.11 Federal Phoenix Assurance Co. Inc. - Company Overview
11.11.1 Federal Phoenix Assurance Co. Inc. - key facts
11.11.2 Federal Phoenix Assurance Co. Inc. - key financials
11.12 UCPB General Insurance Co., Inc. - Company Overview
11.12.1 UCPB General Insurance Co., Inc. - key facts
11.12.2 UCPB General Insurance Co., Inc. - key financials
11.13 Mapfre Insular Insurance Corporation - Company Overview
11.13.1 Mapfre Insular Insurance Corporation - key facts
11.13.2 Mapfre Insular Insurance Corporation - key financials
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend - Philippine Stock Exchange, Philippines
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US dollar)
12.2.3 GDP at current prices (US dollar)
12.2.4 GDP per capita at current prices (US dollar)
12.2.5 GDP by key segments
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US dollar)
12.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
12.2.8 Manufacturing net output at current prices (US$)
12.2.9 Manufacturing net output at current prices as a percentage of GDP
12.2.10 Mining, manufacturing and utilities at current prices (US$)
12.2.11 Mining, manufacturing and utilities at current prices as percentage of GDP
12.2.12 Construction net output at current prices, (US$)
12.2.13 Construction net output at current prices as a percentage of GDP
12.2.14 Inflation rate
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Exports growth
12.2.18 Imports growth
12.2.19 Annual average exchange rate INR-US$
12.3 Infrastructure Quality and Availability
12.3.1 Commercial vehicles exports total value
12.3.2 Commercial vehicles imports total value
12.3.3 Automotive exports total value
12.3.4 Automotive imports total value
12.3.5 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Household consumption expenditure (US$)
12.5.2 Total population
12.5.3 Urban and rural population
12.5.4 Age distribution of the total population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Southeast Asia - Life Expectancy, 2000 and 2012
Table 3: Philippine Insurance - Overall Written Premium by Segment (PHP Billion), 2008-2012
Table 4: Philippine Insurance - Overall Written Premium by Segment (US$ Billion), 2008-2012
Table 5: Philippine Insurance - Overall Written Premium by Segment (PHP Billion), 2012-2017
Table 6: Philippine Insurance - Overall Written Premium by Segment (US$ Billion), 2012-2017
Table 7: Philippine Insurance - Segmentation (Percentage Share), 2008-2017
Table 8: Philippine Non-Life Insurance - Written Premium by Category (PHP Billion), 2008-2012
Table 9: Philippine Non-Life Insurance - Written Premium by Category (US$ Billion), 2008-2012
Table 10: Philippine Non-Life Insurance - Written Premium by Category (PHP Billion), 2012-2017
Table 11: Philippine Non-Life Insurance - Written Premium by Category (US$ Billion), 2012-2017
Table 12: Philippine Non-Life Insurance - Earned Premium (PHP Billion), 2008-2012
Table 13: Philippine Non-Life Insurance - Earned Premium (PHP Billion), 2012-2017
Table 14: Philippine Non-Life Insurance - Paid Claims by Category (PHP Billion), 2008-2012
Table 15: Philippine Non-Life Insurance - Paid Claims by Category (US$ Billion), 2008-2012
Table 16: Philippine Non-Life Insurance - Paid Claims by Category (PHP Billion), 2012-2017
Table 17: Philippine Non-Life Insurance - Paid Claims by Category (US$ Billion), 2012-2017
Table 18: Philippine Non-Life Insurance - Incurred Loss by Category (PHP Billion), 2008-2012
Table 19: Philippine Non-Life Insurance - Incurred Loss by Category (US$ Billion), 2008-2012
Table 20: Philippine Non-Life Insurance - Incurred Loss by Category (PHP Billion), 2012-2017
Table 21: Philippine Non-Life Insurance - Incurred Loss by Category (US$ Billion), 2012-2017
Table 22: Philippine Non-Life Insurance - Loss Ratio (%), 2008-2012
Table 23: Philippine Non-Life Insurance - Loss Ratio (%), 2012-2017
Table 24: Philippine Non-Life Insurance - Commission and Expenses (PHP Billion), 2008-2012
Table 25: Philippine Non-Life Insurance - Commission and Expenses (PHP Billion), 2012-2017
Table 26: Philippine Non-Life Insurance - Combined Ratio (%), 2008-2012
Table 27: Philippine Non-Life Insurance - Combined Ratio (%), 2012-2017
Table 28: Philippine Non-Life Insurance - Frauds and Crimes (PHP Billion), 2008-2012
Table 29: Philippine Non-Life Insurance - Frauds and Crimes (PHP Billion), 2012-2017
Table 30: Philippine Non-Life Insurance - Total Assets (PHP Billion), 2008-2012
Table 31: Philippine Non-Life Insurance - Total Assets (PHP Billion), 2012-2017
Table 32: Philippine Non-Life Insurance - Total Investment Income (PHP Billion), 2008-2012
Table 33: Philippine Non-Life Insurance - Total Investment Income (PHP Billion), 2012-2017
Table 34: Philippine Non-Life Insurance - Retentions (PHP Billion), 2008-2012
Table 35: Philippine Non-Life Insurance - Retentions (PHP Billion), 2012-2017
Table 36: Philippine Property Insurance - Written Premium by Sub-Category (PHP Billion), 2008-2012
Table 37: Philippine Property Insurance - Written Premium by Sub-Category (US$ Billion), 2008-2012
Table 38: Philippine Property Insurance - Written Premium by Sub-Category (PHP Billion), 2012-2017
Table 39: Philippine Property Insurance - Written Premium by Sub-Category (US$ Billion), 2012-2017
Table 40: Philippine Property Insurance - Loss Ratio (%), 2008-2012
Table 41: Philippine Property Insurance - Loss Ratio (%), 2012-2017
Table 42: Philippine Fire and Allied Perils Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 43: Philippine Fire and Allied Perils Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 44: Philippine Fire and Allied Perils Insurance - Written Premium (PHP Billion), 2008-2012
Table 45: Philippine Fire and Allied Perils Insurance - Written Premium (PHP Billion), 2012-2017
Table 46: Philippine Engineering Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 47: Philippine Engineering Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 48: Philippine Engineering Insurance - Written Premium (PHP Billion), 2008-2012
Table 49: Philippine Engineering Insurance - Written Premium (PHP Billion), 2012-2017
Table 50: Philippine Agriculture Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 51: Philippine Agriculture Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 52: Philippine Agriculture Insurance - Written Premium (PHP Billion), 2008-2012
Table 53: Philippine Agriculture Insurance - Written Premium (PHP Billion), 2012-2017
Table 54: Philippine Other Property Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 55: Philippine Other Property Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 56: Philippine Other Property Insurance - Written Premium (PHP Billion), 2008-2012
Table 57: Philippine Other Property Insurance - Written Premium (PHP Billion), 2012-2017
Table 58: Philippine Motor Insurance - Written Premium by Sub-Category (PHP Billion), 2008-2012
Table 59: Philippine Motor Insurance - Written Premium by Sub-Category (US$ Billion), 2008-2012
Table 60: Philippine Motor Insurance - Written Premium by Sub-Category (PHP Billion), 2012-2017
Table 61: Philippine Motor Insurance - Written Premium by Sub-Category (US$ Billion), 2012-2017
Table 62: Philippine Motor Insurance - Loss Ratio (%), 2008-2012
Table 63: Philippine Motor Insurance - Loss Ratio (%), 2012-2017
Table 64: Philippine Motor Hull Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 65: Philippine Motor Hull Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 66: Philippine Motor Hull Insurance - Written Premium (PHP Billion), 2008-2012
Table 67: Philippine Motor Hull Insurance - Written Premium (PHP Billion), 2012-2017
Table 68: Philippine Motor Third-Party Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 69: Philippine Motor Third-Party Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 70: Philippine Motor Third-Party Insurance - Written Premium (PHP Billion), 2008-2012
Table 71: Philippine Motor Third-Party Insurance - Written Premium (PHP Billion), 2012-2017
Table 72: Philippine General Third-Party Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 73: Philippine General Third-Party Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 74: Philippine General Third-Party Insurance - Written Premium (PHP Billion), 2008-2012
Table 75: Philippine General Third-Party Insurance - Written Premium (PHP Billion), 2012-2017
Table 76: Philippine General Third-Party Insurance - Loss Ratio (%), 2008-2012
Table 77: Philippine General Third-Party Insurance - Loss Ratio (%), 2012-2017
Table 78: Philippine Marine, Aviation and Transit Insurance - Written Premium by Sub-Category (PHP Billion), 2008-2012
Table 79: Philippine Marine, Aviation and Transit Insurance - Written Premium by Sub-Category (US$ Billion), 2008-2012
Table 80: Philippine Marine, Aviation and Transit Insurance - Written Premium by Sub-Category (PHP Billion), 2012-2017
Table 81: Philippine Marine, Aviation and Transit Insurance - Written Premium by Sub-Category (US$ Billion), 2012-2017
Table 82: Philippine Marine, Aviation and Transit Insurance - Loss Ratio (%), 2008-2012
Table 83: Philippine Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2017
Table 84: Philippine Marine Insurance - Written Premium by Policy (PHP Billion), 2008-2012
Table 85: Philippine Marine Insurance - Written Premium by Policy (US$ Billion), 2008-2012
Table 86: Philippine Marine Insurance - Written Premium by Policy (PHP Billion), 2012-2017
Table 87: Philippine Marine Insurance - Written Premium by Policy (US$ Billion), 2012-2017
Table 88: Philippine Marine Hull Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 89: Philippine Marine Hull Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 90: Philippine Marine Hull Insurance - Written Premium (PHP Billion), 2008-2012
Table 91: Philippine Marine Hull Insurance - Written Premium (PHP Billion), 2012-2017
Table 92: Philippine Aviation Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 93: Philippine Aviation Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 94: Philippine Aviation Insurance - Written Premium (PHP Billion), 2008-2012
Table 95: Philippine Aviation Insurance - Written Premium (PHP Billion), 2012-2017
Table 96: Philippine Transit Insurance - Number of Policies Sold (Thousand), 2008-2012
Table 97: Philippine Transit Insurance - Number of Policies Sold (Thousand), 2012-2017
Table 98: Philippine Transit Insurance - Written Premium (PHP Billion), 2008-2012
Table 99: Philippine Transit Insurance - Written Premium (PHP Billion), 2012-2017
Table 100: Philippine Non-Life Insurance - Direct Marketing Commission Paid (PHP Billion), 2008-2012
Table 101: Philippine Non-Life Insurance - Direct Marketing Commission Paid (PHP Billion), 2012-2017
Table 102: Philippine Non-Life Insurance - Written Premium Through Direct Marketing (PHP Billion), 2008-2012
Table 103: Philippine Non-Life Insurance - Written Premium Through Direct Marketing (PHP Billion), 2012-2017
Table 104: Philippine Non-Life Insurance - Policies Sold Through Direct Marketing (Thousand), 2008-2012
Table 105: Philippine Non-Life Insurance - Policies Sold Through Direct Marketing (Thousand), 2012-2017
Table 106: Philippine Non-Life Insurance - Number of Direct Marketing Distributors, 2008-2012
Table 107: Philippine Non-Life Insurance - Number of Direct Marketing Distributors, 2012-2017
Table 108: Philippine Non-Life Insurance - Bancassurance Commission Paid (PHP Billion), 2008-2012
Table 109: Philippine Non-Life Insurance - Bancassurance Commission Paid (PHP Billion), 2012-2017
Table 110: Philippine Non-Life Insurance - Written Premium Through Bancassurance (PHP Billion), 2008-2012
Table 111: Philippine Non-Life Insurance - Written Premium Through Bancassurance (PHP Billion), 2012-2017
Table 112: Philippine Non-Life Insurance - Policies Sold Through Bancassurance (Thousand), 2008-2012
Table 113: Philippine Non-Life Insurance - Policies Sold Through Bancassurance (Thousand), 2012-2017
Table 114: Philippine Non-Life Insurance - Number of Bancassurance Distributors, 2008-2012
Table 115: Philippine Non-Life Insurance - Number of Bancassurance Distributors, 2012-2017
Table 116: Philippine Non-Life Insurance - Commission Paid to Agencies (PHP Billion), 2008-2012
Table 117: Philippine Non-Life Insurance - Commission Paid to Agencies (PHP Billion), 2012-2017
Table 118: Philippine Non-Life Insurance - Written Premium Through Agencies (PHP Billion), 2008-2012
Table 119: Philippine Non-Life Insurance - Written Premium Through Agencies (PHP Billion), 2012-2017
Table 120: Philippine Non-Life Insurance - Policies Sold Through Agencies (Thousand), 2008-2012
Table 121: Philippine Non-Life Insurance - Policies Sold Through Agencies (Thousand), 2012-2017
Table 122: Philippine Non-Life Insurance - Number of Agencies, 2008-2012
Table 123: Philippine Non-Life Insurance - Number of Agencies, 2012-2017
Table 124: Philippine Non-Life Insurance - E-Commerce Commission Paid (PHP Billion), 2008-2012
Table 125: Philippine Non-Life Insurance - E-Commerce Commission Paid (PHP Billion), 2012-2017
Table 126: Philippine Non-Life Insurance - Written Premium Through E-Commerce (PHP Billion), 2008-2012
Table 127: Philippine Non-Life Insurance - Written Premium Through E-Commerce (PHP Billion), 2012-2017
Table 128: Philippine Non-Life Insurance - Policies Sold Through E-Commerce (Thousand), 2008-2012
Table 129: Philippine Non-Life Insurance - Policies Sold Through E-Commerce (Thousand), 2012-2017
Table 130: Philippine Non-Life Insurance - Number of E-Commerce Distributors, 2008-2012
Table 131: Philippine Non-Life Insurance - Number of E-Commerce Distributors, 2012-2017
Table 132: Philippine Non-Life Insurance - Commission Paid to Brokers (PHP Billion), 2008-2012
Table 133: Philippine Non-Life Insurance - Commission Paid to Brokers (PHP Billion), 2012-2017
Table 134: Philippine Non-Life Insurance - Written Premium Through Brokers (PHP Billion), 2008-2012
Table 135: Philippine Non-Life Insurance - Written Premium Through Brokers (PHP Billion), 2012-2017
Table 136: Philippine Non-Life Insurance - Policies Sold Through Brokers (Thousand), 2008-2012
Table 137: Philippine Non-Life Insurance - Policies Sold Through Brokers (Thousand), 2012-2017
Table 138: Philippine Non-Life Insurance - Number of Brokers, 2008-2012
Table 139: Philippine Non-Life Insurance - Number of Brokers, 2012-2017
Table 140: Philippine Non-Life Insurance - Commission Paid to Other Channels (PHP Billion), 2008-2012
Table 141: Philippine Non-Life Insurance - Commission Paid to Other Channels (PHP Billion), 2012-2017
Table 142: Philippine Non-Life Insurance - Written Premium Through Other Channels (PHP Billion), 2008-2012
Table 143: Philippine Non-Life Insurance - Written Premium Through Other Channels (PHP Billion), 2012-2017
Table 144: Philippine Non-Life Insurance - Policies Sold Through Other Channels (Thousand), 2008-2012
Table 145: Philippine Non-Life Insurance - Policies Sold Through Other Channels (Thousand), 2012-2017
Table 146: Philippine Non-Life Insurance - Number of Distributors in Other Channels, 2008-2012
Table 147: Philippine Non-Life Insurance - Number of Distributors in Other Channels, 2012-2017
Table 148: Reinsurance in the Philippines by Category (PHP Billion), 2008-2012
Table 149: Reinsurance in the Philippines by Category (US$ Billion), 2008-2012
Table 150: Reinsurance in the Philippines by Category (PHP Billion), 2012-2017
Table 151: Reinsurance in the Philippines by Category (US$ Billion), 2012-2017
Table 152: Philippine Premium Ceded to Reinsurance by Type of Insurance (PHP Billion), 2008-2012
Table 153: Philippine Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008-2012
Table 154: Philippine Premium Ceded to Reinsurance by Type of Insurance (PHP Billion), 2012-2017
Table 155: Philippine Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012-2017
Table 156: Philippine Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2008-2012
Table 157: Philippine Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2012-2017
Table 158: Philippines: Corporate Tax Rates
Table 159: Philippine Non-Life Insurance - Market Shares (%), 2012
Table 160: Malayan Insurance Co., Inc., Key Facts
Table 161: Malayan Insurance Co., Inc., Key Financials (PHP Million), 2008-2012
Table 162: Prudential Guarantee and Assurance, Inc., Key Facts
Table 163: Prudential Guarantee and Assurance, Inc., Key Financials (PHP Million), 2008-2012
Table 164: Pioneer Insurance & Surety Corporation, Key Facts
Table 165: Pioneer Insurance & Surety Corporation, Key Financials (PHP Thousand), 2008-2012
Table 166: BPI/MS Insurance Corporation, Key Facts
Table 167: BPI/MS Insurance Corporation, Key Financials (PHP Million), 2008-2012
Table 168: Standard Insurance Co. Inc., Key Facts
Table 169: Standard Insurance Co. Inc., Key Financials (PHP Million), 2008-2012
Table 170: Chartis Philippines Insurance Inc., Key Facts
Table 171: Chartis Philippines Insurance Inc., Key Financials (PHP Million), 2008-2012
Table 172: Charter Ping An Insurance Corporation, Key Facts
Table 173: Charter Ping An Insurance Corporation, Key Financials (PHP Million), 2008-2012
Table 174: Federal Phoenix Assurance Co. Inc., Key Facts
Table 175: Federal Phoenix Assurance Co. Inc., Key Financials (PHP Million), 2007-2011
Table 176: UCPB General Insurance Co., Inc., Key Facts
Table 177: UCPB General Insurance Co., Inc., Key Financials (PHP Million), 2008-2012
Table 178: Mapfre Insular Insurance Corporation, Key Facts
Table 179: Mapfre Insular Insurance Corporation, Key Financials (PHP Thousand), 2008-2012

List of Figures
Figure 1: Southeast Asia - Economies and Populations, 2011
Figure 2: Southeast Asia - Growth Trends in the Insurance Industry
Figure 3: Southeast Asian Region - Total Insurance Industry by Insurance Segment (US$ Billion), 2011
Figure 4: Southeast Asian Comparison - Non-Life Insurance Segment Gross Written Premium (US$ Billion), 2011
Figure 5: Southeast Asian Comparison - Non-Life Insurance Premium per Capita (US$), 2011
Figure 6: Southeast Asian Comparison - Non-Life Insurance Penetration (% of GDP), 2011 and 2016
Figure 7: Southeast Asian Comparison - Non-Life Insurance Gross Written Premium Growth (%), 2007-2016
Figure 8: Southeast Asian Comparison - Non-Life Insurance Gross Written Premium per Capita Growth (%), 2007-2016
Figure 9: Southeast Asian Comparison - Non-Life Insurance Loss Ratio (%), 2011 and 2016
Figure 10: Southeast Asian Comparison - Non-Life Insurance Combined Ratio (%), 2011 and 2016
Figure 11: Southeast Asian Comparison - Non-Life Insurance Incurred Losses per Capita (US$), 2011 and 2016
Figure 12: Southeast Asian Comparison - Non-Life Insurance Incurred Losses per GDP (%), 2011 and 2016
Figure 13: Philippine Insurance - Overall Written Premium by Segment (PHP Billion), 2008-2017
Figure 14: Philippine Insurance - Dynamics by Segment (%), 2008-2017
Figure 15: Philippine Non-Life Insurance - Written Premium by Category (PHP Billion), 2008-2017
Figure 16: Philippine Non-Life Insurance - Written Premium by Category (%), 2012 and 2017
Figure 17: Philippine Non-Life Insurance - Dynamics by Category (%), 2008-2017
Figure 18: Philippine Non-Life Insurance - Earned Premium (PHP Billion), 2008-2012
Figure 19: Philippine Non-Life Insurance - Earned Premium (PHP Billion), 2012-2017
Figure 20: Philippine Non-Life Insurance - Paid Claims by Category (PHP Billion), 2008-2017
Figure 21: Philippine Non-Life Insurance - Incurred Loss by Category (PHP Billion), 2008-2017
Figure 22: Philippine Non-Life Insurance - Loss Ratio (%), 2008-2012
Figure 23: Philippine Non-Life Insurance - Loss Ratio (%), 2012-2017
Figure 24: Philippine Non-Life Insurance - Commission and Expenses (PHP Billion), 2008-2012
Figure 25: Philippine Non-Life Insurance - Commission and Expenses (PHP Billion), 2012-2017
Figure 26: Philippine Non-Life Insurance - Combined Ratio (%), 2008-2012
Figure 27: Philippine Non-Life Insurance - Combined Ratio (%), 2012-2017
Figure 28: Philippine Non-Life Insurance - Frauds and Crimes (PHP Billion), 2008-2012
Figure 29: Philippine Non-Life Insurance - Frauds and Crimes (PHP Billion), 2012-2017
Figure 30: Philippine Non-Life Insurance - Total Assets (PHP Billion), 2008-2012
Figure 31: Philippine Non-Life Insurance - Total Assets (PHP Billion), 2012-2017
Figure 32: Philippine Non-Life Insurance - Total Investment Income (PHP Billion), 2008-2012
Figure 33: Philippine Non-Life Insurance - Total Investment Income (PHP Billion), 2012-2017
Figure 34: Philippine Non-Life Insurance - Retentions (PHP Billion), 2008-2012
Figure 35: Philippine Non-Life Insurance - Retentions (PHP Billion), 2012-2017
Figure 36: Philippine Non-Life Insurance - Investment Portfolio (PHP Billion), 2008-2012
Figure 37: Philippine Non-Life Insurance - Investment Portfolio (Percentage Share), 2008 and 2012
Figure 38: Philippine Non-Life Insurance - Penetration (% of GDP), 2008-2012
Figure 39: Philippine Non-Life Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 40: Philippine Non-Life Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 41: Philippine Non-Life Insurance - Premium Per Capita (PHP), 2008-2012
Figure 42: Philippine Property Insurance - Written Premium by Sub-Category (PHP Billion), 2008-2017
Figure 43: Philippine Property Insurance - Dynamics by Sub-Category (%), 2008-2017
Figure 44: Philippine Property Insurance - Loss Ratio (%), 2008-2012
Figure 45: Philippine Property Insurance - Loss Ratio (%), 2012-2017
Figure 46: Philippine Fire and Allied Perils Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 47: Philippine Fire and Allied Perils Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 48: Philippine Fire and Allied Perils Insurance - Written Premium (PHP Billion), 2008-2012
Figure 49: Philippine Fire and Allied Perils Insurance - Written Premium (PHP Billion), 2012-2017
Figure 50: Philippine Engineering Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 51: Philippine Engineering Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 52: Philippine Engineering Insurance - Written Premium (PHP Billion), 2008-2012
Figure 53: Philippine Engineering Insurance - Written Premium (PHP Billion), 2012-2017
Figure 54: Philippine Agriculture Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 55: Philippine Agriculture Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 56: Philippine Agriculture Insurance - Written Premium (PHP Billion), 2008-2012
Figure 57: Philippine Agriculture Insurance - Written Premium (PHP Billion), 2012-2017
Figure 58: Philippine Other Property Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 59: Philippine Other Property Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 60: Philippine Other Property Insurance - Written Premium (PHP Billion), 2008-2012
Figure 61: Philippine Other Property Insurance - Written Premium (PHP Billion), 2012-2017
Figure 62: Philippine Motor Insurance - Written Premium by Sub-Category (PHP Billion), 2008-2017
Figure 63: Philippine Motor Insurance - Dynamics by Sub-Category (%), 2008-2017
Figure 64: Philippine Motor Insurance - Loss Ratio (%), 2008-2012
Figure 65: Philippine Motor Insurance - Loss Ratio (%), 2012-2017
Figure 66: Philippine Motor Hull Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 67: Philippine Motor Hull Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 68: Philippine Motor Hull Insurance - Written Premium (PHP Billion), 2008-2012
Figure 69: Philippine Motor Hull Insurance - Written Premium (PHP Billion), 2012-2017
Figure 70: Philippine Motor Third-Party Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 71: Philippine Motor Third-Party Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 72: Philippine Motor Third-Party Insurance - Written Premium (PHP Billion), 2008-2012
Figure 73: Philippine Motor Third-Party Insurance - Written Premium (PHP Billion), 2012-2017
Figure 74: Philippine General Third-Party Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 75: Philippine General Third-Party Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 76: Philippine General Third-Party Insurance - Written Premium (PHP Billion), 2008-2012
Figure 77: Philippine General Third-Party Insurance - Written Premium (PHP Billion), 2012-2017
Figure 78: Philippine General Third-Party Insurance - Loss Ratio (%), 2008-2012
Figure 79: Philippine General Third-Party Insurance - Loss Ratio (%), 2012-2017
Figure 80: Philippine Marine, Aviation and Transit Insurance - Written Premium by Sub-Category (PHP Billion), 2008-2017
Figure 81: Philippine Marine, Aviation and Transit Insurance - Dynamics by Sub-Category (%), 2008-2017
Figure 82: Philippine Marine, Aviation and Transit Insurance - Loss Ratio (%), 2008-2012
Figure 83: Philippine Marine, Aviation and Transit Insurance - Loss Ratio (%), 2012-2017
Figure 84: Philippine Marine Insurance - Written Premium by Policy (PHP Billion), 2008-2017
Figure 85: Philippine Marine Insurance - Dynamics by Policy (%), 2008-2017
Figure 86: Philippine Marine Hull Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 87: Philippine Marine Hull Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 88: Philippine Marine Hull Insurance - Written Premium (PHP Billion), 2008-2012
Figure 89: Philippine Marine Hull Insurance - Written Premium (PHP Billion), 2012-2017
Figure 90: Philippine Aviation Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 91: Philippine Aviation Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 92: Philippine Aviation Insurance - Written Premium (PHP Billion), 2008-2012
Figure 93: Philippine Aviation Insurance - Written Premium (PHP Billion), 2012-2017
Figure 94: Philippine Transit Insurance - Number of Policies Sold (Thousand), 2008-2012
Figure 95: Philippine Transit Insurance - Number of Policies Sold (Thousand), 2012-2017
Figure 96: Philippine Transit Insurance - Written Premium (PHP Billion), 2008-2012
Figure 97: Philippine Transit Insurance - Written Premium (PHP Billion), 2012-2017
Figure 98: Philippine Non-Life Insurance - Written Premium by Distribution Channel (Percentage Share), 2012 and 2017
Figure 99: Philippine Non-Life Insurance - Direct Marketing Commission Paid (PHP Billion), 2008-2012
Figure 100: Philippine Non-Life Insurance - Direct Marketing Commission Paid (PHP Billion), 2012-2017
Figure 101: Philippine Non-Life Insurance - Written Premium Through Direct Marketing (PHP Billion), 2008-2012
Figure 102: Philippine Non-Life Insurance - Written Premium Through Direct Marketing (PHP Billion), 2012-2017
Figure 103: Philippine Non-Life Insurance - Policies Sold Through Direct Marketing (Thousand), 2008-2012
Figure 104: Philippine Non-Life Insurance - Policies Sold Through Direct Marketing (Thousand), 2012-2017
Figure 105: Philippine Non-Life Insurance - Number of Direct Marketing Distributors, 2008-2012
Figure 106: Philippine Non-Life Insurance - Number of Direct Marketing Distributors, 2012-2017
Figure 107: Philippine Non-Life Insurance - Bancassurance Commission Paid (PHP Billion), 2008-2012
Figure 108: Philippine Non-Life Insurance - Bancassurance Commission Paid (PHP Billion), 2012-2017
Figure 109: Philippine Non-Life Insurance - Written

Malayan Insurance Company Inc.
Prudential Guarantee and Assurance, Inc.
BPI/MS Insurance Corporation
Pioneer Insurance & Surety Corporation
AIG Phil. Ins. Company (Chartis Phil, Inc.)
Charter Ping An (Philippines Charter Ins. Corp.)
Federal Phoenix Assurance Co. Inc.
UCPB General Insurance Company, Inc.
Standard Insurance Company, Inc.
MAPFRE Insular Insurance Corporation

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