Philippines Life Insurance Market Summary, Competitive Analysis and Forecast to 2027

Philippines Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Life Insurance in Philippines industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

  • The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
  • The Filipino life insurance market had total gross written premiums of $6.0 billion in 2022, representing a compound annual growth rate (CAGR) of 8.8% between 2017 and 2022.
  • The Life Insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $5.5 billion, equivalent to 90.4% of the market's overall value.
  • The Filipino life insurance market has experienced incredibly strong growth in the historic period with a CAGR of 8.8% from 2017 to 2022. The Philippines has increased its interest rates by 0.5 percentage points, from 5% to an annual rate of 5.5%. The performance of the market is forecast to decelerate, with an anticipated CAGR of 7.5% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $8.7billion by the end of 2027.
Scope
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Philippines
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Philippines
  • Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the Philippines life insurance market with five year forecasts
Reasons to Buy
  • What was the size of the Philippines life insurance market by value in 2022?
  • What will be the size of the Philippines life insurance market in 2027?
  • What factors are affecting the strength of competition in the Philippines life insurance market?
  • How has the market performed over the last five years?
  • What are the main segments that make up Philippines's life insurance market?


1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. How has the COVID-19 outbreak impacted leading players?
8 Company Profiles
8.1. Philippine AXA Life Insurance Corp
8.2. Pru Life UK
8.3. Sun Life Of Canada (u.s.) Holdings, Inc.
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: Philippines life insurance market value: $ billion, 2017-22
Table 2: Philippines life insurance market category segmentation: % share, by value, 2017–2022
Table 3: Philippines life insurance market category segmentation: $ billion, 2017-2022
Table 4: Philippines life insurance market geography segmentation: $ billion, 2022
Table 5: Philippines life insurance market value forecast: $ billion, 2022-27
Table 6: Philippines life insurance market share: % share, by value, 2022
Table 7: Philippine AXA Life Insurance Corp: key facts
Table 8: Philippine AXA Life Insurance Corp: Key Employees
Table 9: Pru Life UK: key facts
Table 10: Pru Life UK: Key Employees
Table 11: Sun Life Of Canada (u.s.) Holdings, Inc.: key facts
Table 12: Philippines size of population (million), 2018–22
Table 13: Philippines gdp (constant 2005 prices, $ billion), 2018–22
Table 14: Philippines gdp (current prices, $ billion), 2018–22
Table 15: Philippines inflation, 2018–22
Table 16: Philippines consumer price index (absolute), 2018–22
Table 17: Philippines exchange rate, 2017–21
List of Figures
Figure 1: Philippines life insurance market value: $ billion, 2017-22
Figure 2: Philippines life insurance market category segmentation: $ billion, 2017-2022
Figure 3: Philippines life insurance market geography segmentation: % share, by value, 2022
Figure 4: Philippines life insurance market value forecast: $ billion, 2022-27
Figure 5: Forces driving competition in the life insurance market in Philippines, 2022
Figure 6: Drivers of buyer power in the life insurance market in Philippines, 2022
Figure 7: Drivers of supplier power in the life insurance market in Philippines, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Philippines, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Philippines, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in Philippines, 2022
Figure 11: Philippines life insurance market share: % share, by value, 2022

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