Reinsurance in Philippines, Key Trends and Opportunities to 2018

Date: 2015-09

“The premium accepted by the Philippine reinsurance segment decreased at a compound annual growth rate (CAGR) of -1.3% during the review period (2009–2013). The decline was primarily due to the global financial crisis; however the high frequency of natural disasters, and greater understanding among insurers of the benefits of reinsurance softened the decline’s impact on the reinsurance segment. The segment’s premium contributions came primarily from non-life and personal accident and health insurers.
Over the forecast period, the reinsurance segment is projected to rise at a forecast-period (2013–2018) CAGR of 2.2%, supplemented by high demand and government provisions supporting domestic reinsurer. Reforms in the insurance industry and reinsurance segment are projected to increase demand for reinsurance over the forecast period.”

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