Wednesday, September 20, 2017

Philippines

Philippines urged to follow UK reinsurance probe

Philippines urged to follow UK reinsurance probe

A senior insurance executive has asked the regulator to take a closer look at foreign reinsurance brokers.

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Philippines terrorist threat remains high

Philippines terrorist threat remains high

While an improved economy has reduced the ranks of unemployed people for terrorists to recruit from, risks remain high.

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Philippine HMOs required to seek regulator’s approval

Philippine HMOs required to seek regulator’s approval

Health-maintenance organisations are now mandated to get clearance before selling products to the public.

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BIMA aims to insure 1 billion people worldwide

BIMA aims to insure 1 billion people worldwide

The insurance firm provides mobile-delivered insurance and health services in emerging markets.

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ADB to expand disaster support for Philippines via insurance

ADB to expand disaster support for Philippines via insurance

The Asian Development Bank is exploring disaster insurance options for one of the countries most vulnerable to natural disasters.

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Filipinos with microinsurance cover up 8% in Q4

Filipinos with microinsurance cover up 8% in Q4

Microinsurance, which offers coverage of P10,000 (US$200) to policyholders, continues to make waves in the Philippines.

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Fewer nonlife firms in the Philippines expected this year

Fewer nonlife firms in the Philippines expected this year

Numbers are expected to decline this year as the regulator imposes higher capital requirements for insurers.

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Net income of Philippines firms up 26%

Net income of Philippines firms up 26%

Premiums rose in the last three months of 2016 thanks to the expanded sale of life policies.

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Pru Life UK, GIZ tie up for Philippine initiative

Pru Life UK, GIZ tie up for Philippine initiative

The microinsurance partnership will address financial literacy and provide low-cost life insurance products.

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Union Bank inks bancassurance deal with Insular Life

Union Bank inks bancassurance deal with Insular Life

The Philippines bank offers a network of more than 300 branches and six million customers.

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Microinsurance success in the Philippines

Microinsurance success in the Philippines

The country’s insurance regulator forecasts that the penetration rate will reach close to 50% during the next five years.

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Philippine insurers given capital requirement deadline

Philippine insurers given capital requirement deadline

Regulators have given insurance companies until April this year to meet the minimum capital target.

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Philippines budgets US$1bn for universal healthcare

Philippines budgets US$1bn for universal healthcare

The country’s US$67 billion 2017 budget includes an 11.6% funding boost for universal healthcare.

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Philippines pushes wider insurance access for SMEs

Philippines pushes wider insurance access for SMEs

Legislators are working on a government subsidy of the insurance premiums to be paid by smaller businesses.

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MAA boosts stake in Philippines general insurer

MAA boosts stake in Philippines general insurer

MAA General Assurance Philippines will soon become a subsidiary firm of MAA Group.

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Innovation to help Philippine market growth

Innovation to help Philippine market growth

In a fast-changing and competitive market, the key for local insurers to thrive is innovation.

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Philippines protection gap valued at US$300bn

Philippines protection gap valued at US$300bn

Many Filipinos are still not covered and the industry is not focused on selling protection at present.

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Philippine lawmakers back lower taxes on non-life insurance

Philippine lawmakers back lower taxes on non-life insurance

Hopes are high that proposals to reduce taxes imposed on non-life insurance in the Philippines will eventually be approved.

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SUMMER 2017

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From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers