Despite the global economic crisis, the Philippine reinsurance segment recorded stable growth during the review period. This is attributable to the increasing cost of reinsurance protection and susceptibility of the country to frequent natural disasters such as typhoons. The number of reinsurance companies registered in the Philippines fell from two to one during the review period, although some domestic insurers also have limited reinsurance operations. The National Reinsurance Corporation of the Philippines is the only reinsurer based in the Philippines. It was established to provide both life and non-life reinsurance to the Philippines and other neighboring countries.
This report provides a comprehensive analysis of the reinsurance market in the Philippines:
- It provides historical values for the Philippine reinsurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
- It offers a detailed analysis of the key sub-segments in the Philippine reinsurance market, along with market forecasts until 2016
- It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in the Philippines and its growth prospects
- It profiles the top reinsurance companies in the Philippines
Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to the Philippine reinsurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Philippine reinsurance market
- Assess the competitive dynamics in the reinsurance market
- Identify the growth opportunities and market dynamics within key product categories
- Despite the global economic crisis, the Philippine reinsurance segment recorded stable growth during the review period.
- The Philippine reinsurance segment is dominated by the Philippines National Reinsurance Corporation (PhilnaRe), which is the only domestic reinsurance company in the Philippines.
- The Philippine government is also expected to introduce more regulations for the country’s insurance industry over the forecast period, as it tries to match the EU’s strict regulatory environment.
- The significant growths registered by the non-life and personal accident and health insurance segments over the forecast period are expected to generate growth for the reinsurance segment.