While the pandemic has placed extra strain on the Philippines’ health care system, increased awareness of health risks could lead to a spike in private insurance coverage. With around 415,000 recorded cases and 8000 virus-related deaths as of mid-November, 2020, the Philippines has been one of the hardest-hit countries in South-east Asia...
The Philippines’ financial services sector entered the Covid-19 pandemic on a solid footing, thanks to decades of regulatory reform to address the vulnerabilities exposed by the 1997-98 Asian financial crisis. Strong capital buffers, high levels of provisioning and near-universal public health cover insulated the country from many of the impacts that other markets continue to wrestle with....
The Philippines is one of the world’s fastest-growing nations. Although economic activity slowed during the 2020 Covid-19 pandemic period, stimulus measures, imminent public sector policies and a larger budget are expected to create jobs, generate growth and help kick-start the country’s recovery during 2021.
Prior to the outbreak of Covid-19, Myanmar's insurance sector was going through a period of rapid change following the entry of foreign insurers in 2019. Amid the disruptive environment of the pandemic, the fledgling insurance industry has continued to develop new distribution channels and services in response to shifting demands from the market.
Myanmar has seen an increase in financial technology (fintech) and digital payment offerings since the outbreak of the coronavirus pandemic, raising hopes for the expansion of financial inclusion in a country where banking penetration remains below the regional average.
While the pandemic has placed extra strain on the Philippines’ health care system, increased awareness of health risks could lead to a spike in private insurance coverage.
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