Insurance

At the end of 2012, the Philippines was home to 79 non-life insurance companies, 29 life insurers and a single reinsurance firm. With a strong history and few limitations and restrictions on foreign investment, the Philippine insurance industry is open, thriving, growing and competitive; however it is widely acknowledged that the sector should be more inclusive, as it currently serves only a small percentage of the population. This is set to change, however, as financial services inclusiveness is not only seen as important to the individual; it is also regarded as a way to improve economic efficiency and promote long-term sustainable growth. This chapter contains an interview with Yvonne S Yuchengco, President and CEO, Malayan Insurance.