Philippines Non-Life Insurance Market to 2027

November 2023 | 42 pages | ID: PD63F5648062EN
MarketLine

Abstracts

Philippines Non-Life Insurance Market to 2027

Summary

Non-Life Insurance in Philippines industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• Non-life insurance is typically defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event.
• The Filipino non-life insurance market had total gross written premiums of $2.1 billion in 2022, representing a compound annual growth rate (CAGR) of 8.6% between 2017 and 2022.
• The property segment accounted for the market's largest proportion in 2022, with total gross written premiums of $0.8 billion, equivalent to 37.4% of the market's overall value.
• The expansion of microinsurance is supporting the market growth. According to the Philippines Insurance Commission, the microinsurance premium collection by mutual benefit associations (MBAs) from non-life insurance witnessed an annual growth of 84.1% in Q2 2023.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Philippines
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Philippines
• Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the Philippines non-life insurance market with five year forecasts

Reasons to Buy

• What was the size of the Philippines non-life insurance market by value in 2022?
• What will be the size of the Philippines non-life insurance market in 2027?
• What factors are affecting the strength of competition in the Philippines non-life insurance market?
• How has the market performed over the last five years?
• What are the main segments that make up Philippines's non-life insurance market?

Contents

1 EXECUTIVE SUMMARY

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape

2 MARKET OVERVIEW

2.1. Market definition
2.2. Market analysis

3 MARKET DATA

3.1. Market value

4 MARKET SEGMENTATION

4.1. Category segmentation
4.2. Geography segmentation

5 MARKET OUTLOOK

5.1. Market value forecast

6 FIVE FORCES ANALYSIS

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 COMPETITIVE LANDSCAPE

7.1. Market share
7.2. Who are the leading players?
7.3. What are the strengths of the leading players?
7.4. What are the most recent developments in the market?

8 COMPANY PROFILES

8.1. BPI/MS Insurance Corp
8.2. Malayan Insurance Co Inc
8.3. Pioneer Insurance & Surety Corp
8.4. Prudential Guarantee and Assurance Inc

9 MACROECONOMIC INDICATORS

9.1. Country data

10 APPENDIX

10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine

List Of Tables

LIST OF TABLES

Table 1: Philippines non-life insurance market value: $ billion, 2017–22
Table 2: Philippines non–life insurance market category segmentation: % share, by value, 2017–2022
Table 3: Philippines non-life insurance market category segmentation: $ billion, 2017-2022
Table 4: Philippines non–life insurance market geography segmentation: $ billion, 2022
Table 5: Philippines non-life insurance market value forecast: $ billion, 2022–27
Table 6: Philippines non-life insurance market share: % share, by value, 2022
Table 7: BPI/MS Insurance Corp: key facts
Table 8: BPI/MS Insurance Corp: Key Employees
Table 9: Malayan Insurance Co Inc: key facts
Table 10: Malayan Insurance Co Inc: Key Employees
Table 11: Pioneer Insurance & Surety Corp: key facts
Table 12: Pioneer Insurance & Surety Corp: Key Employees
Table 13: Prudential Guarantee and Assurance Inc: key facts
Table 14: Prudential Guarantee and Assurance Inc: Key Employees
Table 15: Prudential Guarantee and Assurance Inc: Key Employees Continued
Table 16: Philippines size of population (million), 2018–22
Table 17: Philippines gdp (constant 2005 prices, $ billion), 2018–22
Table 18: Philippines gdp (current prices, $ billion), 2018–22
Table 19: Philippines inflation, 2018–22
Table 20: Philippines consumer price index (absolute), 2018–22
Table 21: Philippines exchange rate, 2018–22

List Of Figures

LIST OF FIGURES

Figure 1: Philippines non-life insurance market value: $ billion, 2017–22
Figure 2: Philippines non-life insurance market category segmentation: $ billion, 2017-2022
Figure 3: Philippines non–life insurance market geography segmentation: % share, by value, 2022
Figure 4: Philippines non-life insurance market value forecast: $ billion, 2022–27
Figure 5: Forces driving competition in the non-life insurance market in Philippines, 2022
Figure 6: Drivers of buyer power in the non-life insurance market in Philippines, 2022
Figure 7: Drivers of supplier power in the non-life insurance market in Philippines, 2022
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Philippines, 2022
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Philippines, 2022
Figure 10: Drivers of degree of rivalry in the non-life insurance market in Philippines, 2022
Figure 11: Philippines non-life insurance market share: % share, by value, 2022