This report is part of the ICMIF 5-5-5 Mutual Microinsurance Strategy. The 5-5-5 Strategy aims to provide mutual microinsurance solutions to 5 million low-income households, in five emerging markets over the next five years. The Philippines is one of the five selected countries (along with Colombia, India, Kenya and Sri Lanka), and this country diagnostic study highlights the potential role that mutual microinsurance can play in closing the protection gap in the Philippines.