Insurance in Philippines

Insurance in Philippines

Code: ML-OHIP2146 | Published: Feb-2015 | Pages: 36 | MarketLine
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Insurance in Philippines industry profile provides top-line qualitative and quantitative summary information including: market size (value 2010-14, and forecast to 2019). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Philippines insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

- The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2013 average exchange rates.

- The Philippines insurance market is expected to generate total gross written premiums of $6.1bn in 2014, representing a compound annual growth rate (CAGR) of 24.9% between 2010 and 2014.

- The life insurance segment is expected to be the markets most lucrative in 2014, with total gross written premiums of $4.7bn, equivalent to 77.6% of the markets overall value.

- The performance of the market is forecast to decelerate, with an anticipated CAGR of 16.8% for the five-year period 2014 - 2019, which is expected to drive the market to a value of $13.3bn by the end of 2019.

Key Findings
Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in Philippines

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Philippines

Leading company profiles reveal details of key insurance market players global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the Philippines insurance market with five year forecasts

Macroeconomic indicators provide insight into general trends within the Philippines economy

Reasons To Buy
What was the size of the Philippines insurance market by value in 2014?

What will be the size of the Philippines insurance market in 2019?

What factors are affecting the strength of competition in the Philippines insurance market?

How has the market performed over the last five years?

Table of Contents

TABLE OF CONTENTS
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Geography segmentation 2
Market rivalry 2
Market Overview 7
Market definition 7
Market analysis 7
Market Data 8
Market value 8
Market Segmentation 9
Category segmentation 9
Geography segmentation 10
Market Outlook 11
Market value forecast 11
Five Forces Analysis 12
Summary 12
Buyer power 13
Supplier power 15
New entrants 17
Threat of substitutes 18
Degree of rivalry 19
Leading Companies 20
AIA Group Limited 20
Prudential Financial, Inc. 23
Sun Life Financial, Inc. 27
Macroeconomic Indicators 31
Country Data 31
Methodology 33
Industry associations 34
Related MarketLine research 34
Appendix 35
About MarketLine 35

LIST OF TABLES
Table 1: Philippines insurance market value: $ billion, 2010-14(e) 8
Table 2: Philippines insurance market category segmentation: $ billion, 2014(e) 9
Table 3: Philippines insurance market geography segmentation: $ billion, 2014(e) 10
Table 4: Philippines insurance market value forecast: $ billion, 2014-19 11
Table 5: AIA Group Limited: key facts 20
Table 6: AIA Group Limited: key financials ($) 21
Table 7: AIA Group Limited: key financial ratios 21
Table 8: Prudential Financial, Inc.: key facts 23
Table 9: Prudential Financial, Inc.: key financials ($) 25
Table 10: Prudential Financial, Inc.: key financial ratios 25
Table 11: Sun Life Financial, Inc.: key facts 27
Table 12: Sun Life Financial, Inc.: key financials ($) 28
Table 13: Sun Life Financial, Inc.: key financials (C$) 28
Table 14: Sun Life Financial, Inc.: key financial ratios 29
Table 15: Philippines size of population (million), 2010-14 31
Table 16: Philippines gdp (constant 2005 prices, $ billion), 2010-14 31
Table 17: Philippines gdp (current prices, $ billion), 2010-14 31
Table 18: Philippines inflation, 2010-14 32
Table 19: Philippines consumer price index (absolute), 2010-14 32
Table 20: Philippines exchange rate, 2010-14 32

LIST OF FIGURES
Figure 1: Philippines insurance market value: $ billion, 2010-14(e) 8
Figure 2: Philippines insurance market category segmentation: % share, by value, 2014(e) 9
Figure 3: Philippines insurance market geography segmentation: % share, by value, 2014(e) 10
Figure 4: Philippines insurance market value forecast: $ billion, 2014-19 11
Figure 5: Forces driving competition in the insurance market in Philippines, 2014 12
Figure 6: Drivers of buyer power in the insurance market in Philippines, 2014 13
Figure 7: Drivers of supplier power in the insurance market in Philippines, 2014 15
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Philippines, 2014 17
Figure 9: Factors influencing the threat of substitutes in the insurance market in Philippines, 2014 18
Figure 10: Drivers of degree of rivalry in the insurance market in Philippines, 2014 19
Figure 11: AIA Group Limited: revenues and profitability 21
Figure 12: AIA Group Limited: assets and liabilities 22
Figure 13: Prudential Financial, Inc.: revenues and profitability 25
Figure 14: Prudential Financial, Inc.: assets and liabilities 26
Figure 15: Sun Life Financial, Inc.: revenues and profitability 29
Figure 16: Sun Life Financial, Inc.: assets and liabilities 30
AIA Group Limited, Prudential Financial, Inc. and Sun Life Financial, Inc.

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