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Published: Oct, 2014 | Pages:
135 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis
The report provides in-depth market analysis, information and insights into the Philippine personal accident and health insurance segment, including:
The Philippine personal accident and health insurance segment's growth prospects by insurance category
Key trends and drivers for the personal accident and health insurance segment
The various distribution channels in the Philippine personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in the Philippines
Detailed regulatory policies of the Philippine insurance industry
Summary
Personal accident and health was the second-fastest-growing segment in terms of gross written premiums in the Philippine insurance industry during the review-period. Although the segment was the smallest in the industry, it grew at a review period (2009?2013) compound annual growth rate (CAGR) of 11.8%. High crime rates, the quality of the country's private healthcare services and an expanding middle-class population supplemented the segment's growth.
The increased capital requirement is anticipated to lead to a period of consolidation in the segment. However, government efforts to spread financial awareness are expected to support the segment over the forecast period, backed by a low penetration rate, rising health costs and regulatory amendments.
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in the Philippines:
It provides historical values for the Philippine personal accident and health insurance segment for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key sub-segments in the Philippine personal accident and health insurance segment, along with market forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for personal accident and health insurance products in the Philippines.
It profiles the top personal accident and health insurance companies in the Philippines, and outlines the key regulations affecting them.
Reason To Buy
Make strategic business decisions using in depth historic and forecast market data related to the Philippine personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities in the Philippine personal accident and health insurance segment
Assess the competitive dynamics in the personal accident and health insurance segment
Identify the growth opportunities and market dynamics in key product categories
Gain insights into key regulations governing the Philippine insurance segment and its impact on companies and the market's future
Key Highlights
Personal accident and health was the second-fastest-growing segment in terms of gross written premiums in the Philippine insurance industry during the review-period
Although the segment was the smallest in the industry, it grew at a review period (2009?2013) compound annual growth rate (CAGR) of 11.8%.
High crime rates, the quality of the country's private healthcare services and an expanding middle-class population supplemented the segment's growth.
Government efforts to spread financial awareness are expected to support the segment over the forecast period, backed by a low penetration rate, rising health costs and regulatory amendments.
Although the personal accident and health segment is diversified, it is highly mature.
1 Key Facts and Events 2 Executive Summary 3 Introduction 3.1 What is this Report About? 3.2 Definitions 3.3 Methodology 4 Philippine Insurance Industry Attractiveness 4.1 Insurance Industry Size, 2009-2018 5 Persol Accident and Health Insurance Segment Outlook 5.1 Consumer Segmentation 5.2 Key Drivers 5.3 Key Trends 5.4 Challenges 5.5 Persol Accident and Health Insurance Growth Prospects by Category 5.5.1 Persol accident insurance 5.5.2 Travel insurance 5.5.3 Health insurance 6 Alysis by Distribution Channel 6.1 Direct Marketing 6.2 Bancassurance 6.3 Agencies 6.4 E-Commerce 6.5 Brokers 6.6 Other Channels 7 Governce, Risk and Compliance 7.1 Legislation Overview and Historical Evolution 7.2 Legislation and Market Practice by Type of Insurance 7.2.1 Life insurance 7.2.2 Property insurance 7.2.3 Motor insurance 7.2.4 Liability insurance 7.2.5 Marine, aviation and transit insurance 7.2.6 Persol accident and health insurance 7.3 Compulsory Insurance 7.3.1 Motor third-party liability insurance 7.3.2 Worker's compensation 7.3.3 tiol health insurance 7.4 Supervision and Control 7.4.1 Intertiol Association of Insurance Supervisors 7.4.2 The Insurance Commission 7.5 Non-Admitted Insurance Regulations 7.5.1 Overview 7.5.2 Intermediaries 7.5.3 Market practices 7.5.4 Fines and pelties 7.6 Company Registration and Operations 7.6.1 Types of insurance organization 7.6.2 Establishing a local company 7.6.3 Foreign ownership 7.6.4 Types of license 7.6.5 Capital requirements 7.6.6 Solvency margins 7.6.7 Reserve requirements 7.6.8 Investment regulations 7.6.9 Statutory return requirements 7.6.10 Fee structure 7.7 Taxation 7.7.1 Insurance premium or policy taxation 7.7.2 Withholding taxes on premium paid overseas 7.7.3 Corporate tax 7.7.4 VAT 7.7.5 Captives 7.8 Legal System 7.8.1 Introduction 7.8.2 Access to court 7.8.3 Altertive dispute resolution (ADR) 8 Competitive Landscape and Strategic Insights 8.1 Overview 8.2 Companies in the Philippines Persol Accident and Health Insurance Segment 8.3 Leading Life Insurers - New Product Launches 8.4 Leading Life Insurers - Key Developments 8.5 Philippine Health Insurance Corporation - Company Overview 8.5.1 Philippine Health Insurance Corporation - key facts 8.6 Blue Cross Insurance Inc - Company Overview 8.6.1 Blue Cross Insurance Inc - key facts 8.7 Malayan Insurance Co., Inc. - Company Overview 8.7.1 Malayan Insurance Co., Inc. - key facts 8.8 Prudential Guarantee and Assurance, Inc. - Company Overview 8.8.1 Prudential Guarantee and Assurance, Inc. - key facts 8.9 BPI/MS Insurance Corporation - Company Overview 8.9.1 BPI/MS Insurance Corporation - key facts 8.1 Pioneer Insurance & Surety Corporation - Company Overview 8.10.1 Pioneer Insurance & Surety Corporation - key facts 8.11 Charter Ping An Insurance Corporation - Company Overview 8.11.1 Charter Ping An Insurance Corporation - key facts 8.12 Federal Phoenix Assurance Co. Inc. - Company Overview 8.12.1 Federal Phoenix Assurance Co. Inc. - key facts 8.13 UCPB General Insurance Co., Inc. - Company Overview 8.13.1 UCPB General Insurance Co., Inc. - key facts 8.14 Sun Life of Cada (Philippines) Inc. - Company Overview 8.14.1 Sun Life of Cada (Philippines) Inc. - key facts 9 Appendix - 1 9.1 Business Confidence 9.1.1 Market capitalization trend - Philippine Stock Exchange (PSE), Philippines 9.2 Economic Performance 9.2.1 GDP at constant prices (US$) 9.2.2 GDP per capita at constant prices (US$) 9.2.3 GDP at current prices (US$) 9.2.4 GDP per capita at current prices (US$) 9.2.5 Inflation rate 9.2.6 Annual average exchange rate PHP-US$ 9.3 Infrastructure 9.3.1 Total internet subscribers 9.4 Labor Force 9.4.1 Labor force 9.4.2 Unemployment rate 9.5 Demographics 9.5.1 Gross tiol disposable income (US$) 9.5.2 Household consumption expenditure (US$) 9.5.3 Total population 9.5.4 Urban and rural populations 9.5.5 Age distribution of the total population 10 Appendix - 2 10.1 Methodology 10.2 Contact Timetric 10.3 About Timetric 10.4 Timetric's Services 10.5 Disclaimer
List of Tables
Table 1: Philippine Persol Accident and Health Insurance - Key Facts, 2013 Table 2: Insurance Industry Definitions Table 3: Philippine Insurance - Gross Written Premium by Segment (Percentage Share), 2009-2018 Table 4: Philippine Insurance - Direct Written Premium by Segment (Percentage Share), 2009-2018 Table 5: Philippines - Life Insurance Regulatory Framework Table 6: Philippines - Property Insurance Regulatory Framework Table 7: Philippines - Motor Insurance Regulatory Framework Table 8: Philippines - Liability Insurance Regulatory Framework Table 9: Philippines - Stamp Taxes on Life Insurance Policies Table 10: Philippines - Corporate Tax Rates for the Fincial Year 2013 Table 11: Philippines Persol Accident and Health Insurance Companies, 2013 Table 12: Philippine Health Insurance Corporation, Key Facts Table 13: Blue Cross Insurance Inc, Key Facts Table 14: Malayan Insurance Co., Inc., Key Facts Table 15: Prudential Guarantee and Assurance, Inc., Key Facts Table 16: BPI/MS Insurance Corporation, Key Facts Table 17: Pioneer Insurance & Surety Corporation, Key Facts Table 18: Charter Ping An Insurance Corporation, Key Facts Table 19: Federal Phoenix Assurance Co. Inc., Key Facts Table 20: UCPB General Insurance Co., Inc., Key Facts Table 21: Sun Life of Cada (Philippines) Inc., Key Facts
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