Executive summary

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Scope

• This report provides a comprehensive analysis of the life insurance market in the Philippines:
• It provides historical values for the Philippine life insurance 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 life insurance market, along with market forecasts until 2016
• 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 life insurance products in the Philippines
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in the Philippines for the life insurance business
• It provides a detailed analysis of the reinsurance market in the Philippines and its growth prospects
• It profiles the top life insurance companies in the Philippines and outlines the key regulations affecting them

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Key highlights

• The Philippines has one of the fastest-growing and most promising life insurance segments in Southeast Asia.
• The Philippine life segment was dominated by individual life and term life insurance products during the review period.
• The life insurance segment is expected to expand over the forecast period, due to the country’s growing economy, increasing annual disposable income level and the expanding middle-class population.
• Although the demand for whole life insurance products declined, the demand for unit-linked products, which are considered as a sub-category of the individual life category, surged during the review period.
• The rising popularity of unit-linked life insurance products is expected to drive the Philippine life insurance segment over the forecast period.

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Reasons to buy

• Make strategic business decisions using in depth historic and forecast market data related to the Philippine life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Philippine life insurance market
• Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Philippine insurance market and its impact on companies and the market's future

Table of contents

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 The Philippine Insurance Industry Attractiveness
3.1 Insurance Industry Market Size, 2007–2016
3.2 Key Industry Trends and Drivers
3.2.1 Business drivers
3.2.2 Consumer drivers
3.3 Recent Market Developments
4 Life Insurance Segment Outlook
4.1 Life Insurance Growth Prospects by Category
4.1.1 Individual life insurance category
4.1.2 Individual pension category
4.1.3 Individual endowment category
4.1.4 Individual marriage and birth insurance category
4.1.5 Individual unit-linked insurance sub-category
4.1.6 Individual term life Insurance category
4.1.7 Individual others category
4.1.8 Group life insurance category
4.2 Life Insurance Growth Prospects by Customer Segment
4.2.1 Individual single-premium category
4.2.2 Individual non-single-premium category
4.2.3 Group single-premium category
4.2.4 Group non-single-premium category
5 Analysis by Distribution Channel
5.1 Direct Marketing Channel
5.2 Bancassurance Channel
5.3 Agencies Channel
5.4 E-Commerce Channel
5.5 Brokers Channel
5.6 Other Channels
6 Regulatory Policies
7 Porter’s Five Forces Analysis – The Philippine Life Insurance Segment
7.1 Bargaining Power of Supplier: Medium
7.2 Bargaining Power of Buyer: Medium
7.3 Barriers to Entry: Medium
7.4 Intensity of Rivalry: High
7.5 Threat of Substitutes: Low
8 Reinsurance Growth Dynamics and Challenges
8.1 Reinsurance market size, 2007–2016
8.2 Reinsurance market size by type of insurance, 2007–2016
9 Competitive Landscape and Strategic Insights
9.1 Overview
9.2 Leading Companies in the Philippine Life Insurance Segment
9.3 Comparison of the Top Five Insurers
9.3.1 Gross written premium
9.4 Sun Life Financial Philippines – Company Overview
9.4.1 Sun Life Financial Philippines – key facts
9.5 The Philippine American Life and General Insurance Company – Company Overview
9.5.1 The Philippine American Life and General Insurance Company – key facts
9.6 Philippine Axa Life Insurance Corporation – Company Overview
9.6.1 Philippine Axa Life Insurance Corporation – key facts
9.7 Pru Life UK – Company Overview
9.7.1 Pru Life UK – key facts
9.8 Insular Life Philippines – Company Overview
9.8.1 Insular Life Philippines – key facts
9.9 BPI-Philam Life Assurance Corporation – Company Overview
9.9.1 BPI-Philam Life Assurance Corporation – key facts
9.1 Manulife Philippines – Company Overview
9.10.1 Manulife Philippines – key facts
9.11 Sun Life Grepa Financial – Company Overview
9.11.1 Sun Life Grepa Financial – key facts
9.12 United Coconut Planters Life Assurance Corporation – Company Overview
9.12.1 United Coconut Planters Life Assurance Corporation – key facts
9.13 Generali Philippines – Company Overview
9.13.1 Generali Philippines – key facts
10 Business Environment and Country Risk
10.1 Business Confidence
10.1.1 Business confidence indicator
10.1.2 Market capitalization trend – Philippine Stock Exchange, Philippines
10.1.3 FDI inflows
10.2 Economic Performance
10.2.1 GDP at constant prices (US dollars)
10.2.2 GDP per capita at constant prices (US dollars)
10.2.3 GDP at current prices (US dollars)
10.2.4 GDP per capita at current prices (US dollars)
10.2.5 GDP by key segments
10.2.6 Agricultural net output at current prices (Philippine pesos)
10.2.7 Agricultural net output at current prices (US dollars)
10.2.8 Agricultural net output at current prices as a percentage of GDP
10.2.9 Manufacturing net output at current prices (Philippine pesos)
10.2.10 Manufacturing net output at current prices (US dollars)
10.2.11 Manufacturing net output at current prices as a percentage of GDP
10.2.12 Mining, manufacturing and utilities net output at current prices (Philippine pesos)
10.2.13 Mining, manufacturing and utilities at current prices (US dollars)
10.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP
10.2.15 Construction net output at current prices (Philippine pesos)
10.2.16 Construction net output at current prices, (US dollars)
10.2.17 Construction net output at current prices as a percentage of GDP
10.2.18 Inflation rate
10.2.19 Fiscal balance as a percentage of GDP
10.2.20 Current account balance as a percentage of GDP
10.2.21 Exports as a percentage of GDP
10.2.22 Imports as a percentage of GDP
10.2.23 Exports growth
10.2.24 Imports growth
10.2.25 External debt as a percentage of GDP
10.2.26 Annual average exchange rate US$–PHP
10.2.27 End-of-period exchange rate US$–PHP
10.3 Infrastructure Quality and Availability
10.3.1 Total airports and sea ports
10.3.2 Railways and roadways
10.3.3 Passenger vehicle sales volume
10.3.4 Commercial vehicle sales volume
10.3.5 Automotive component exports trend
10.3.6 Automotive component imports trend
10.3.7 Passenger car penetration
10.3.8 Healthcare expenditure
10.3.9 Healthcare expenditure as a percentage of GDP
10.3.10 Healthcare expenditure per capita
10.3.11 Total internet subscribers
10.4 Labor Force
10.4.1 Labor force
10.4.2 Unemployment rate
10.5 Demographics
10.5.1 Annual disposable income
10.5.2 Annual per capita disposable income
10.5.3 Total population
10.5.4 Urban and rural populations
10.5.5 Female percentage of the population
10.5.6 Male percentage of the population
10.5.7 Mean age of the population
10.5.8 Median age of the population
10.5.9 Population density
10.5.10 Age distribution of the total population
10.5.11 Age distribution of the male population
10.5.12 Age distribution of the female population
10.5.13 Number of households
10.6 Political and Social Risk
10.6.1 Political stability
10.6.2 Terrorism index
10.6.3 Transparency index
11 Appendix
11.1 Methodology
11.2 Contact Us
11.3 About Timetric
11.4 Disclaimer

List of tables

Table 1: Insurance Industry Definitions
Table 2: Philippine Insurance – Overall Written Premium by Segment (PHP Billion), 2007–2011
Table 3: Philippine Insurance – Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: Philippine Insurance – Overall Written Premium by Segment (PHP Billion), 2011–2016
Table 5: Philippine Insurance – Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: Philippine Insurance – Segmentation (% Share), 2007–2016
Table 7: Philippine Life Insurance – Written Premium by Category (PHP Billion), 2007–2011
Table 8: Philippine Life Insurance – Written Premium by Category (US$ Billion), 2007–2011
Table 9: Philippine Life Insurance – Written Premium by Category (PHP Billion), 2011–2016
Table 10: Philippine Life Insurance – Written Premium by Category (US$ Billion), 2011–2016
Table 11: Philippine Life Insurance – Earned Premium (PHP Billion), 2007–2011
Table 12: Philippine Life Insurance – Earned Premium (PHP Billion), 2011–2016
Table 13: Philippine Life Insurance – Sum Assured (PHP Trillion), 2007–2011
Table 14: Philippine Life Insurance – Sum Assured (PHP Trillion), 2011–2016
Table 15: Philippine Life Insurance – Paid Claims (PHP Billion), 2007–2011
Table 16: Philippine Life Insurance – Paid Claims (PHP Billion), 2011–2016
Table 17: Philippine Life Insurance – Incurred Loss (PHP Billion), 2007–2011
Table 18: Philippine Life Insurance – Incurred Loss (PHP Billion), 2011–2016
Table 19: Philippine Life Insurance – Loss Ratio (%), 2007–2011
Table 20: Philippine Life Insurance – Loss Ratio (%), 2011–2016
Table 21: Philippine Life Insurance – Commissions and Expenses (PHP Billion), 2007–2011
Table 22: Philippine Life Insurance – Commissions and Expenses (PHP Billion), 2011–2016
Table 23: Philippine Life Insurance – Combined Ratio (%), 2007–2011
Table 24: Philippine Life Insurance – Combined Ratio (%), 2011–2016
Table 25: Philippine Life Insurance – Frauds and Crimes (PHP Billion), 2007–2011
Table 26: Philippine Life Insurance – Frauds and Crimes (PHP Billion), 2011–2016
Table 27: Philippine Life Insurance – Total Assets (PHP Billion), 2007–2011
Table 28: Philippine Life Insurance – Total Assets (PHP Billion), 2011–2016
Table 29: Philippine Life Insurance – Total Investment Income (PHP Billion), 2007–2011
Table 30: Philippine Life Insurance – Total Investment Income (PHP Billion), 2011–2016
Table 31: Philippine Life Insurance – Retentions (PHP Billion), 2007–2011
Table 32: Philippine Life Insurance – Retentions (PHP Billion), 2011–2016
Table 33: Philippine Individual Life Insurance – Number of Active Policies (Thousand), 2007–2011
Table 34: Philippine Individual Life Insurance – Number of Active Policies, 2011–2016
Table 35: Philippine Individual Life Insurance – Written Premium (PHP Billion), 2007–2011
Table 36: Philippine Individual Life Insurance – Written Premium (PHP Billion), 2011–2016
Table 37: Philippine Individual Pension Insurance – Number of Active Policies (Thousand), 2007–2011
Table 38: Philippine Individual Pension Insurance – Number of Active Policies (Thousand), 2011–2016
Table 39: Philippine Individual Pension Insurance – Written Premium (PHP Billion), 2007–2011
Table 40: Philippine Individual Pension Insurance – Written Premium (PHP Billion), 2011–2016
Table 41: Philippine Individual Endowment Insurance – Number of Active Policies (Thousand), 2007–2011
Table 42: Philippine Individual Endowment Insurance – Number of Active Policies (Thousand), 2011–2016
Table 43: Philippine Individual Endowment Insurance – Written Premium (PHP Billion), 2007–2011
Table 44: Philippine Individual Endowment Insurance – Written Premium (PHP Billion), 2011–2016
Table 45: Philippine Individual Marriage and Birth Insurance – Number of Active Policies (Thousand), 2007–2011
Table 46: Philippine Individual Marriage and Birth Insurance – Number of Active Policies (Thousand), 2011–2016
Table 47: Philippine Individual Marriage and Birth Insurance – Written Premium (PHP Billion), 2007–2011
Table 48: Philippine Individual Marriage and Birth Insurance – Written Premium (PHP Billion), 2011–2016
Table 49: Philippine Individual Unit-Linked Insurance – Number of Active Policies (Thousand), 2007–2011
Table 50: Philippine Individual Unit-Linked Insurance – Number of Active Policies (Thousand), 2011–2016
Table 51: Philippine Individual Unit-Linked Insurance – Written Premium (PHP Billion), 2007–2011
Table 52: Philippine Individual Unit-Linked Insurance – Written Premium (PHP Billion), 2011–2016
Table 53: Philippine Individual Term Life Insurance – Number of Active Policies (Thousand), 2007–2011
Table 54: Philippine Individual Term Life Insurance – Number of Active Policies (Thousand), 2011–2016
Table 55: Philippine Individual Term Life Insurance – Written Premium (PHP Billion), 2007–2011
Table 56: Philippine Individual Term Life Insurance – Written Premium (PHP Billion), 2011–2016
Table 57: Philippine Individual Other Insurance – Number of Active Policies (Thousand), 2007–2011
Table 58: Philippine Individual Other Insurance – Number of Active Policies (Thousand), 2011–2016
Table 59: Philippine Individual Other Insurance – Written Premium (PHP Billion), 2007–2011
Table 60: Philippine Individual Other Insurance – Written Premium (PHP Billion), 2011–2016
Table 61: Philippine Group Life Insurance – Number of Active Policies (Thousand), 2007–2011
Table 62: Philippine Group Life Insurance – Number of Active Policies (Thousand), 2011–2016
Table 63: Philippine Group Life Insurance – Written Premium (PHP Billion), 2007–2011
Table 64: Philippine Group Life Insurance – Written Premium (PHP Billion), 2011–2016
Table 65: Philippine Individual Single-Premium – Number of Active Policies (Thousand), 2007–2011
Table 66: Philippine Individual Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Table 67: Philippine Individual Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Table 68: Philippine Individual Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Table 69: Philippine Individual Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2007–2011
Table 70: Philippine Individual Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Table 71: Philippine Individual Non-Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Table 72: Philippine Individual Non-Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Table 73: Philippine Group Single-Premium Insurance – Number of Active Policies (Thousand), 2007–2011
Table 74: Philippine Group Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Table 75: Philippine Group Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Table 76: Philippine Group Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Table 77: Philippine Group Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2007–2011
Table 78: Philippine Group Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Table 79: Philippine Group Non-Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Table 80: Philippine Group Non-Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Table 81: Philippine Life Insurance – Direct Marketing Commission Paid (PHP Billion), 2007–2011
Table 82: Philippine Life Insurance – Direct Marketing Commission Paid (PHP Billion), 2011–2016
Table 83: Philippine Life Insurance – New Business Written Premium Through Direct Marketing (PHP Billion), 2007–2011
Table 84: Philippine Life Insurance – New Business Written Premium Through Direct Marketing (PHP Billion), 2011–2016
Table 85: Philippine Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2007–2011
Table 86: Philippine Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2011–2016
Table 87: Philippine Life Insurance – Number of Direct Marketing Distributors, 2007–2011
Table 88: Philippine Life Insurance – Number of Direct Marketing Distributors, 2011–2016
Table 89: Philippine Life Insurance – Bancassurance Commission Paid (PHP Billion), 2007–2011
Table 90: Philippine Life Insurance – Bancassurance Commission Paid (PHP Billion), 2011–2016
Table 91: Philippine Life Insurance – New Business Written Premium Through Bancassurance (PHP Billion), 2007–2011
Table 92: Philippine Life Insurance – New Business Written Premium Through Bancassurance (PHP Billion), 2011–2016
Table 93: Philippine Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2007–2011
Table 94: Philippine Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2011–2016
Table 95: Philippine Life Insurance – Number of Bancassurance Distributors, 2007–2011
Table 96: Philippine Life Insurance – Number of Bancassurance Distributors, 2011–2016
Table 97: Philippine Life Insurance – Commission Paid to Agencies (PHP Billion), 2007–2011
Table 98: Philippine Life Insurance – Commission Paid to Agencies (PHP Billion), 2011–2016
Table 99: Philippine Life Insurance – New Business Written Premium Through Agencies (PHP Billion), 2007–2011
Table 100: Philippine Life Insurance – New Business Written Premium Through Agencies (PHP Billion), 2011–2016
Table 101: Philippine Life Insurance – New Policies Sold Through Agencies (Thousand), 2007–2011
Table 102: Philippine Life Insurance – New Policies Sold Through Agencies (Thousand), 2011–2016
Table 103: Philippine Life Insurance – Number of Agencies, 2007–2011
Table 104: Philippine Life Insurance – Number of Agencies, 2011–2016
Table 105: Philippine Life Insurance – E-Commerce Commission Paid (PHP Billion), 2007–2011
Table 106: Philippine Life Insurance – E-Commerce Commission Paid (PHP Billion), 2011–2016
Table 107: Philippine Life Insurance – New Business Written Premium Through E-Commerce (PHP Billion), 2007–2011
Table 108: Philippine Life Insurance – New Business Written Premium Through E-Commerce (PHP Billion), 2011–2016
Table 109: Philippine Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2007–2011
Table 110: Philippine Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2011–2016
Table 111: Philippine Life Insurance – Number of E-Commerce Distributors, 2007–2011
Table 112: Philippine Life Insurance – Number of E-Commerce Distributors, 2011–2016
Table 113: Philippine Life Insurance – Commission Paid to Brokers (PHP Billion), 2007–2011
Table 114: Philippine Life Insurance – Commission Paid to Brokers (PHP Billion), 2011–2016
Table 115: Philippine Life Insurance – New Business Written Premium Through Brokers (PHP Billion), 2007–2011
Table 116: Philippine Life Insurance – New Business Written Premium Through Brokers (PHP Billion), 2011–2016
Table 117: Philippine Life Insurance – New Policies Sold Through Brokers (Thousand), 2007–2011
Table 118: Philippine Life Insurance – New Policies Sold Through Brokers (Thousand), 2011–2016
Table 119: Philippine Life Insurance – Number of Brokers, 2007–2011
Table 120: Philippine Life Insurance – Number of Brokers, 2011–2016
Table 121: Philippine Life Insurance – Commission Paid to Other Channels (PHP Billion), 2007–2011
Table 122: Philippine Life Insurance – Commission Paid to Other Channels (PHP Billion), 2011–2016
Table 123: Philippine Life Insurance – New Business Written Premium Through Other Channels (PHP Billion), 2007–2011
Table 124: Philippine Life Insurance – New Business Written Premium Through Other Channels (PHP Billion), 2011–2016
Table 125: Philippine Life Insurance – New Policies Sold Through Other Channels (Thousand), 2007–2011
Table 126: Philippine Life Insurance – New Policies Sold Through Other Channels (Thousand), 2011–2016
Table 127: Philippine Life Insurance – Number of Distributors in Other Channels, 2007–2011
Table 128: Philippine Life Insurance – Number of Distributors in Other Channels, 2011–2016
Table 129: Reinsurance Market in the Philippines by Category (PHP Billion), 2007–2011
Table 130: Reinsurance Market in the Philippines by Category (US$ Billion), 2007–2011
Table 131: Reinsurance Market in the Philippines by Category (PHP Billion), 2011–2016
Table 132: Reinsurance Market in the Philippines by Category (US$ Billion), 2011–2016
Table 133: Philippine Premium Ceded to Reinsurance by Type of Insurance (PHP Billion), 2007–2011
Table 134: Philippine Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2007–2011
Table 135: Philippine Premium Ceded to Reinsurance by Type of Insurance (PHP Billion), 2011–2016
Table 136: Philippine Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2011–2016
Table 137: Philippine Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 138: Philippine Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 139: Philippine Life Insurance Market Share (%), 2010–2011
Table 140: Sun Life Financial Philippines, Key Facts
Table 141: The Philippine American Life and General Insurance Company, Key Facts
Table 142: Philippine Axa Life Insurance Corporation, Key Facts
Table 143: Pru Life UK, Key Facts
Table 144: Insular Life Philippines, Key Facts
Table 145: BPI-Philam Life Assurance Corporation, Key Facts
Table 146: Manulife Philippines, Key Facts
Table 147: Sun Life Grepa Financial, Key Facts
Table 148: United Coconut Planters Life Assurance Corporation, Key Facts
Table 149: Generali Philippines, Key Facts

List of figures

Figure 1: Philippine Insurance – Overall Written Premium by Segment (PHP Billion), 2007–2016
Figure 2: Philippine Insurance – Market Dynamics by Segment, 2007–2016
Figure 3: Philippine Life Insurance – Written Premium by Category (PHP Billion), 2007–2016
Figure 4: Philippine Life Insurance – Written Premium by Category (% Share), 2011 and 2016
Figure 5: Philippine Life Insurance – Market Dynamics by Category, 2007–2016
Figure 6: Philippine Life Insurance – Earned Premium (PHP Billion), 2007–2011
Figure 7: Philippine Life Insurance – Earned Premium (PHP Billion), 2011–2016
Figure 8: Philippine Life Insurance – Sum Assured (PHP Trillion), 2007–2011
Figure 9: Philippine Life Insurance – Sum Assured (PHP Trillion), 2011–2016
Figure 10: Philippine Life Insurance – Paid Claims (PHP Billion), 2007–2011
Figure 11: Philippine Life Insurance – Paid Claims (PHP Billion), 2011–2016
Figure 12: Philippine Life Insurance – Incurred Loss (PHP Billion), 2007–2011
Figure 13: Philippine Life Insurance – Incurred Loss (PHP Billion), 2011–2016
Figure 14: Philippine Life Insurance – Loss Ratio (%), 2007–2011
Figure 15: Philippine Life Insurance – Loss Ratio (%), 2011–2016
Figure 16: Philippine Life Insurance – Commissions and Expenses (PHP Billion), 2007–2011
Figure 17: Philippine Life Insurance – Commissions and Expenses (PHP Billion), 2011–2016
Figure 18: Philippine Life Insurance – Combined Ratio (%), 2007–2011
Figure 19: Philippine Life Insurance – Combined Ratio (%), 2011–2016
Figure 20: Philippine Life Insurance – Frauds and Crimes (PHP Billion), 2007–2011
Figure 21: Philippine Life Insurance – Frauds and Crimes (PHP Billion), 2011–2016
Figure 22: Philippine Life Insurance – Total Assets (PHP Billion), 2007–2011
Figure 23: Philippine Life Insurance – Total Assets (PHP Billion), 2011–2016
Figure 24: Philippine Life Insurance – Total Investment Income (PHP Billion), 2007–2011
Figure 25: Philippine Life Insurance – Total Investment Income (PHP Billion), 2011–2016
Figure 26: Philippine Life Insurance – Retentions (PHP Billion), 2007–2011
Figure 27: Philippine Life Insurance – Retentions (PHP Billion), 2011–2016
Figure 28: Philippine Life Insurance – Investment Portfolio (PHP Billion), 2007–2011
Figure 29: Philippine Life Insurance – Investment Portfolio, 2007 and 2011
Figure 30: Philippine Life Insurance – Penetration (% of GDP), 2007–2011
Figure 31: Philippine Life Insurance – Density (Number of Policies per Capita), 2007–2011
Figure 32: Philippine Life Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 33: Philippine Life Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 34: Philippine Life Insurance – Premium Per-capita (PHP), 2007–2011
Figure 35: Philippine Individual Life Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 36: Philippine Individual Life Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 37: Philippine Individual Life Insurance – Written Premium (PHP Billion), 2007–2011
Figure 38: Philippine Individual Life Insurance – Written Premium (PHP Billion), 2011–2016
Figure 39: Philippine Individual Pension Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 40: Philippine Individual Pension Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 41: Philippine Individual Pension Insurance – Written Premium (PHP Billion), 2007–2011
Figure 42: Philippine Individual Pension Insurance – Written Premium (PHP Billion), 2011–2016
Figure 43: Philippine Individual Endowment Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 44: Philippine Individual Endowment Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 45: Philippine Individual Endowment Insurance – Written Premium (PHP Billion), 2007–2011
Figure 46: Philippine Individual Endowment Insurance – Written Premium (PHP Billion), 2011–2016
Figure 47: Philippine Individual Marriage and Birth Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 48: Philippine Individual Marriage and Birth Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 49: Philippine Individual Marriage and Birth Insurance – Written Premium (PHP Billion), 2007–2011
Figure 50: Philippine Individual Marriage and Birth Insurance – Written Premium (PHP Billion), 2011–201
Figure 51: Philippine Individual Unit-Linked Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 52: Philippine Individual Unit-linked Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 53: Philippine Individual Unit-Linked Insurance – Written Premium (PHP Billion), 2007–2011
Figure 54: Philippine Individual Unit-Linked Insurance – Written Premium (PHP Billion), 2011–2016
Figure 55: Philippine Individual Term Life Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 56: Philippine Individual Term Life Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 57: Philippine Individual Term Life Insurance – Written Premium (PHP Billion), 2007–2011
Figure 58: Philippine Individual Term Life Insurance – Written Premium (PHP Billion), 2011–2016
Figure 59: Philippine Individual Other Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 60: Philippine Individual Other Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 61: Philippine Individual Other Insurance – Written Premium (PHP Billion), 2007–2011
Figure 62: Philippine Individual Other Insurance – Written Premium (PHP Billion), 2011–2016
Figure 63: Philippine Group Life Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 64: Philippine Group Life Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 65: Philippine Group Life Insurance – Written Premium (PHP Billion), 2007–2011
Figure 66: Philippine Group Life Insurance – Written Premium (PHP Billion), 2011–2016
Figure 67: Philippine Individual Single-Premium Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 68: Philippine Individual Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 69: Philippine Individual Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Figure 70: Philippine Individual Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Figure 71: Philippine Individual Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 72: Philippine Individual Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 73: Philippine Individual Non-Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Figure 74: Philippine Individual Non-Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Figure 75: Philippine Group Single-Premium Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 76: Philippine Group Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 77: Philippine Group Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Figure 78: Philippine Group Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Figure 79: Philippine Group Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2007–2011
Figure 80: Philippine Group Non-Single-Premium Insurance – Number of Active Policies (Thousand), 2011–2016
Figure 81: Philippine Group Non-Single-Premium Insurance – Written Premium (PHP Billion), 2007–2011
Figure 82: Philippine Group Non-Single-Premium Insurance – Written Premium (PHP Billion), 2011–2016
Figure 83: Philippine Life Insurance – New Business Written Premium by Distribution Channel (% Share), 2011 and 2016
Figure 84: Philippine Life Insurance – Direct Marketing Commission Paid (PHP Billion), 2007–2011
Figure 85: Philippine Life Insurance – Direct Marketing Commission Paid (PHP Billion), 2011–2016
Figure 86: Philippine Life Insurance – New Business Written Premium Through Direct Marketing (PHP Billion), 2007–2011
Figure 87: Philippine Life Insurance – New Business Written Premium Through Direct Marketing (PHP Billion), 2011–2016
Figure 88: Philippine Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2007–2011
Figure 89: Philippine Life Insurance – New Policies Sold Through Direct Marketing (Thousand), 2011–2016
Figure 90: Philippine Life Insurance – Number of Direct Marketing Distributors, 2007–2011
Figure 91: Philippine Life Insurance – Number of Direct Marketing Distributors, 2011–2016
Figure 92: Philippine Life Insurance – Bancassurance Commission Paid (PHP Billion), 2007–2011
Figure 93: Philippine Life Insurance – Bancassurance Commission Paid (PHP Billion), 2011–2016
Figure 94: Philippine Life Insurance – New Business Written Premium Through Bancassurance (PHP Billion), 2007–2011
Figure 95: Philippine Life Insurance – New Business Written Premium Through Bancassurance (PHP Billion), 2011–2016
Figure 96: Philippine Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2007–2011
Figure 97: Philippine Life Insurance – New Policies Sold Through Bancassurance (Thousand), 2011–2016
Figure 98: Philippine Life Insurance – Number of Bancassurance Distributors, 2007–2011
Figure 99: Philippine Life Insurance – Number of Bancassurance Distributors, 2011–2016
Figure 100: Philippine Life Insurance – Commission Paid to Agencies (PHP Billion), 2007–2011
Figure 101: Philippine Life Insurance – Commission Paid to Agencies (PHP Billion), 2011–2016
Figure 102: Philippine Life Insurance – New Business Written Premium Through Agencies (PHP Billion), 2007–2011
Figure 103: Philippine Life Insurance – New Business Written Premium Through Agencies (PHP Billion), 2011–2016
Figure 104: Philippine Life Insurance – New Policies Sold Through Agencies (Thousand), 2007–2011
Figure 105: Philippine Life Insurance – New Policies Sold Through Agencies (Thousand), 2011–2016
Figure 106: Philippine Life Insurance – Number of Agencies, 2007–2011
Figure 107: Philippine Life Insurance – Number of Agencies, 2011–2016
Figure 108: Philippine Life Insurance – E-Commerce Commission Paid (PHP Billion), 2007–2011
Figure 109: Philippine Life Insurance – E-Commerce Commission Paid (PHP Billion), 2011–2016
Figure 110: Philippine Life Insurance – New Business Written Premium Through E-Commerce (PHP Billion), 2007–2011
Figure 111: Philippine Life Insurance – New Business Written Premium Through E-Commerce (PHP Billion), 2011–2016
Figure 112: Philippine Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2007–2011
Figure 113: Philippine Life Insurance – New Policies Sold Through E-Commerce (Thousand), 2011–2016
Figure 114: Philippine Life Insurance – Number of E-Commerce Distributors, 2007–2011
Figure 115: Philippine Life Insurance – Number of E-Commerce Distributors, 2011–2016
Figure 116: Philippine Life Insurance – Commission Paid to Brokers (PHP Billion), 2007–2011
Figure 117: Philippine Life Insurance – Commission Paid to Brokers (PHP Billion), 2011–2016
Figure 118: Philippine Life Insurance – New Business Written Premium Through Brokers (PHP Billion), 2007–2011
Figure 119: Philippine Life Insurance – New Business Written Premium Through Brokers (PHP Billion), 2011–2016
Figure 120: Philippine Life Insurance – New Policies Sold Through Brokers (Thousand), 2007–2011
Figure 121: Philippine Life Insurance – New Policies Sold Through Brokers (Thousand), 2011–2016
Figure 122: Philippine Life Insurance – Number of Brokers, 2007–2011
Figure 123: Philippine Life Insurance – Number of Brokers, 2011–2016
Figure 124: Philippine Life Insurance – Commission Paid to Other Channels (PHP Billion), 2007–2011
Figure 125: Philippine Life Insurance – Commission Paid to Other Channels (PHP Billion), 2011–2016
Figure 126: Philippine Life Insurance – New Business Written Premium Through Other Channels (PHP Billion), 2007–2011
Figure 127: Philippine Life Insurance – New Business Written Premium Through Other Channels (PHP Billion), 2011–2016
Figure 128: Philippine Life Insurance – New Policies Sold Through Other Channels (Thousand), 2007–2011
Figure 129: Philippine Life Insurance – New Policies Sold Through Other Channels (Thousand), 2011–2016
Figure 130: Philippine Life Insurance – Number of Distributors in Other Channels, 2007–2011
Figure 131: Philippine Life Insurance – Number of Distributors in Other Channels, 2011–2016
Figure 132: Philippine Life Insurance – Porter’s Five Forces Analysis
Figure 133: Philippine Premium Ceded to Reinsurance by Category (PHP Billion), 2007–2016
Figure 134: Philippine Premium Ceded to Reinsurance by Category (% Share), 2011 and 2016
Figure 135: Philippine Reinsurance – Market Dynamics by Category, 2007–2016
Figure 136: Premium Ceded to Reinsurance by Type of Insurance (PHP Billion), 2007–2016
Figure 137: Reinsurance Market Dynamics by Type of Insurance, 2007–2016
Figure 138: Philippine Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 139: Philippine Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 140: Philippine Life Insurance Market Shares (%), 2010 and 2011
Figure 141: Gross Written Premium – Top Five Philippine Life Insurers, 2011
Figure 142: Philippine Business Confidence Indicator, Q1 2008–Q4 2011
Figure 143: Philippine Stock Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 144: FDI Inflows (US$ Billion), 2007–2011
Figure 145: Philippine GDP at Constant Prices (US$ Billion), 2007–2011
Figure 146: Philippine GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 147: Philippine GDP at Current Prices (US$ Billion), 2007–2011
Figure 148: Philippine GDP Per Capita at Current Prices (US$), 2007–2011
Figure 149: Philippine GDP by Key Segments (%) 2009 and 2011
Figure 150: Philippine Agricultural Net Output at Current Prices (PHP Billion), 2007–2011
Figure 151: Philippine Agricultural Net Output at Current Prices (US$ Billion), 2007–2011
Figure 152: Philippine Agricultural Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 153: Philippine Manufacturing Net Output at Current Prices (PHP Billion), 2007–2011
Figure 154: Philippine Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 155: Philippine Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 156: Philippine Mining, Manufacturing and Utilities Net Output at Current Prices (PHP Billion), 2007–2011
Figure 157: Philippine Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2011
Figure 158: Philippine Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 159: Philippine Construction Net Output at Current Prices (PHP Billion), 2007–2011
Figure 160: Philippine Construction Net Output at Current Prices (US$ Billion), 2007– 2011
Figure 161: Philippine Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 162: Philippine Inflation Rate (%), 2007–2011
Figure 163: Philippine Fiscal Balance as a Percentage of GDP (%), 2007–2011
Figure 164: Philippine Current Account Balance as a Percentage of GDP(%), 2007–2011
Figure 165: Philippine Exports as a Percentage of GDP (%), 2007–2011
Figure 166: Philippine Imports as a Percentage of GDP (%), 2007–2011
Figure 167: Philippine Exports Growth (%), 2007–2011
Figure 168: Philippine Imports Growth (%), 2007–2011
Figure 169: Philippine External Debt as a Percentage of GDP (%), 2007–2011
Figure 170: Philippine Annual Average Exchange Rate US$–PHP, 2007–2011
Figure 171: Philippine End-of-Period Exchange Rate US$–PHP, 2007–2011
Figure 172: Total Number of Philippine Airports and Sea Ports, 2011
Figure 173: Philippine Railways and Roadways (Kilometers), 2011
Figure 174: Philippine Passenger Vehicle Sales, 2007–2011
Figure 175: Philippine Commercial Vehicle Sales, 2007–2011
Figure 176: Philippine Automotive Component Exports (US$ Billion), 2007–2011
Figure 177: Philippine Automotive Component Imports (US$ Billion), 2007–2011
Figure 178: Philippine Passenger Car Penetration (per Thousand People), 2007–2011
Figure 179: Philippine Healthcare Expenditure (US$ Billion), 2007–2011
Figure 180: Philippine Healthcare Expenditure as a Percentage of GDP (%), 2007–2011
Figure 181: Philippine Per Capita Healthcare Expenditure (US$), 2007–2011
Figure 182: Philippine Internet Subscriptions (Millions), 2007–2011
Figure 183: Philippine Size of Labor Force in 15–59 Age Group (Million), 2007–2011
Figure 184: Philippine Unemployment Rate (%), 2007–2011
Figure 185: Philippine Annual Disposable Income (US$ Billion), 2007–2011
Figure 186: Philippine Annual Per Capita Disposable Income (US$), 2007–2011
Figure 187: Philippine Total Population (Million), 2007–2011
Figure 188: Philippine Urban and Rural Population (%), 2007–2011
Figure 189: Philippine Females as a Percentage of the Population (%), 2007–2011
Figure 190: Philippine Male as a Percentage of the Population (%), 2007–2011
Figure 191: Philippine Mean Age of the Population (Years), 2007–2011
Figure 192: Philippine Median Age of the Population (Years), 2007–2011
Figure 193: Philippine Population Density (per Square Kilometer), 2007–2011
Figure 194: Philippine Population Distribution by Age (%), 2007–2011
Figure 195: Philippine Male Population Distribution by Age (%), 2007–2011
Figure 196: Philippine Female Population Distribution by Age (%), 2007–2011
Figure 197: Philippine Households, Number of (Million), 2007–2011
Figure 198: Global Terrorism Heat Map, 2011
Figure 199: Philippine Transparency Index, 2007–2011