Thursday, February 22, 2018

Philippines

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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Philippines’ mandatory nat-cat insurance under review

Philippines’ mandatory nat-cat insurance under review

The Philippines’ Insurance Commission will review the proposed compulsory catastrophe insurance cover.

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Proposed tax hike will harm Philippine insurers

Proposed tax hike will harm Philippine insurers

The industry will face another challenge if plans to increase value-added tax from 12% to 15% go ahead.

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Philippines optimistic amid weak financial markets

Philippines optimistic amid weak financial markets

Insurance authorities in the country remain bullish that the domestic industry will not be affected.

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Philippine deposit insurer issues warning

Philippine deposit insurer issues warning

The insured status of institutions that engage in unsafe deposit-related banking practices will be terminated.

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HMOs want to renegotiate Philippines guidelines

HMOs want to renegotiate Philippines guidelines

An industry group says the new requirements are too stiff given that this is the first time they are being imposed.

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Philippines to develop new mortality table

Philippines to develop new mortality table

The regulator will develop an updated table consistent with current underwriting and marketing practice.

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New rules in licensing Philippine HMOs due soon

New rules in licensing Philippine HMOs due soon

The new guidelines will be out by the end of August, according to the Insurance Commission.

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Philippine insurance adjustment open for foreigners

Philippine insurance adjustment open for foreigners

The lifting of a foreign investment ban is seen as a way to encourage competition and best practices.

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Nina Klingspor, Allianz Global Corporate & Specialty

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