Insurance

The Philippines’ insurance sector has been exhibiting strong growth in recent years. While it did experience a slowdown in 2014, and then again in early 2016 ahead of the election, the trend overall has been positive, and its strong performance is likely to continue. Although premium growth remained flat in 2016, insurers are forecast to collect a combined P500bn ($10.6bn) in premiums by 2019, double the amount in 2015. By then, around half the country’s population will be insured, more than triple the percentage in 2009. The push for inclusiveness is adding to new business coming from individuals seeking to build wealth and protect their assets.

This chapter contains an interview with Peter Grimes, President and CEO, FWD Philippines.