Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Sep 2025

Market Profile


Philippines

Industry maintains strong growth momentum in 2025

The Philippine insurance industry posted a strong first quarter in 2025, with both life and non-life segments reporting y-o-y growth in total assets, net worth and income.
 

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Rising medical insurance costs strain Filipinos

Rising medical costs and increased utilisation are driving up health insurance premiums in the Philippines, prompting insurers to revise pricing strategies and expand benefits such as wellbeing services to manage risks and enhance value.
 

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Adapting to shifts in the reinsurance segment

As the reinsurance broking market in the Philippines undergoes three noted shifts, brokers are also strategically adapting to market changes to stay competitive.
 

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Economic growth drives reinsurance segment

Driven by ongoing economic expansion and increasing demand for non-life insurance products, considerable growth can be expected in the Philippines’ reinsurance market over the coming year.
 

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Philippines faces persistent life insurance coverage gap

Despite growing awareness of the importance of insurance among Filipinos, actual policy uptake remains low, highlighting the need for greater financial inclusion.
 

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Digitalisation as the way forward for Philippine non-life insurance sector

The Philippines’ non-life insurance sector is expected to grow in the coming years, thanks to the country’s positive macroeconomic indicators and digitalisation.