Personal Accident and Health Insurance in Philippines, Key Trends and Opportunities to 2018

Date: 2015-09

“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 (2009โˆ’2013) compound annual growth rate (CAGR) of 11.8%. High crime rates, the quality of the countryโ€™s private healthcare services and an expanding middle-class population supplemented the segmentโ€™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.”

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