New players to boost Philippine sales to US$6.3bn in 2016
February 2 2016 by InsuranceAsia News Staff
MORE FROM: Philippines
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Philippines budgets US$80m for crop insurance funding in FY 2024
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The allocation is under the 2024 General Appropriations Act and is expected to cover the full cost of crop insurance premiums of more than 2.3m of the country's targeted farmers and fishermen.
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APAC markets see stable renewals on ample capacity, reinsurer appetite: brokers
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The supply-demand dynamics have shifted in favour of reinsurance buyers in the April renewals, leading to better pricing and easing of market conditions across Japan, India, Korea, the Philippines and China.
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While there is a gradual return to an orderly renewal process, the market is seeing a shift from proportional to non-proportional treaties.
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The Insurance Commission said there would be no increases in premium, and the rates prescribed in 2006 shall remain in force.
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