Life Insurance Distribution Channels in the Philippines to 2016: Market Databook by Timetric

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									Life Insurance Distribution Channels in
the Philippines to 2016: Market
Databook



Reference Code: IN0224DB
Published: June 2012




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Fax: +44 (0)20 7336 6813




                                 www.timetric.com
TABLE OF CONTENTS

1         INTRODUCTION ...........................................................................................................7
    1.1      What Is This Report About? ................................................................................................ 7
    1.2      Definitions ........................................................................................................................... 7
2         DIRECT MARKETING ANALYSIS ...............................................................................9
    2.1      Value of Commissions......................................................................................................... 9
    2.2      Value of Commissions Forecast ........................................................................................ 10
    2.3      Share of Total Market Commissions.................................................................................. 11
    2.4      Share of Total Market Commissions Forecast ................................................................... 12
    2.5      Gross Written Premiums – New Business ......................................................................... 13
    2.6      Gross Written Premiums – New Business ......................................................................... 14
    2.7      Number of New Policies Sold ............................................................................................ 15
    2.8      Number of New Policies Sold Forecast ............................................................................. 16
    2.9      Number of Players ............................................................................................................ 17
    2.10     Number of Players Forecast .............................................................................................. 18
3         BANCASSURANCE ANALYSIS ................................................................................19
    3.1      Value of Commissions....................................................................................................... 19
    3.2      Value of Commissions Forecast ........................................................................................ 20
    3.3      Share of Total Market Commissions.................................................................................. 21
    3.4      Share of Total Market Commissions Forecast ................................................................... 22
    3.5      Gross Written Premiums – New Business ......................................................................... 23
    3.6      Gross Written Premiums – New Business Forecast .......................................................... 24
    3.7      Number of New Policies Sold ............................................................................................ 25
    3.8      Number of New Policies Sold Forecast ............................................................................. 26
    3.9      Number of Players ............................................................................................................ 27
    3.10     Number of Players Forecast .............................................................................................. 28
4         AGENCIES ANALYSIS ..............................................................................................29
    4.1      Value of Commissions....................................................................................................... 29
    4.2      Value of Commissions Forecast ........................................................................................ 30
    4.3      Share of Total Market Commissions.................................................................................. 31
    4.4      Share of Total Market Commissions Forecast ................................................................... 32
    4.5      Gross Written Premiums – New Business ......................................................................... 33
    4.6      Gross Written Premiums – New Business ......................................................................... 34
    4.7      Number of New Policies Sold ............................................................................................ 35
    4.8      Number of New Policies Sold Forecast ............................................................................. 36
    4.9      Number of Players ............................................................................................................ 37
    4.10     Number of Players Forecast .............................................................................................. 38
5         OTHER DISTRIBUTION CHANNELS ANALYSIS .....................................................39

Life Insurance Distribution Channels in the Philippines to 2016: Market Databook
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© Timetric. This product is licensed and is not to be photocopied
                                                                                                                            Published: June 2012
    5.1      Value of Commissions....................................................................................................... 39
    5.2      Value of Commissions Forecast ........................................................................................ 40
    5.3      Share of Total Market Commissions.................................................................................. 41
    5.4      Share of Total Market Commissions Forecast ................................................................... 42
    5.5      Gross Written Premiums – New Business ......................................................................... 43
    5.6      Gross Written Premiums – New Business ......................................................................... 44
    5.7      Number of New Policies Sold ............................................................................................ 45
    5.8      Number of New Policies Sold Forecast ............................................................................. 46
    5.9      Number of Players ............................................................................................................ 47
    5.10     Number of Players Forecast .............................................................................................. 48
6         APPENDIX ..................................................................................................................49
    6.1      Methodology ..................................................................................................................... 49
    6.2      Contact Us ........................................................................................................................ 49
    6.3      About Timetric ................................................................................................................... 49
    6.4      Disclaimer ......................................................................................................................... 50




Life Insurance Distribution Channels in the Philippines to 2016: Market Databook
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© Timetric. This product is licensed and is not to be photocopied
                                                                                                                          Published: June 2012
LIST OF TABLES

Table 1: Insurance Industry Definitions ................................................................................................................7
Table 2: Value of Commissions (US$ Billion), 2007-2011 ...................................................................................9
Table 3: Value of Commissions (PHP Billion), 2007-2011 ...................................................................................9
Table 4: Value of Commissions (US$ Billion), 2011-2016 ................................................................................ 10
Table 5: Value of Commissions (PHP Billion), 2011-2016 ................................................................................ 10
Table 6: Share of Total Market Commissions (Percentage), 2007-2011 .......................................................... 11
Table 7: Share of Total Market Commissions (Percentage), 2011-2016 .......................................................... 12
Table 8: Gross Written Premiums – New Business (US$ Billion), 2007-2011 .................................................. 13
Table 9: Gross Written Premiums – New Business (PHP Billion), 2007-2011.................................................. 13
Table 10: Gross Written Premiums – New Business (US$ Billion), 2011-2016 ................................................ 14
Table 11: Gross Written Premiums – New Business (PHP Billion), 2011-2016................................................ 14
Table 12: Number of New Policies Sold (Thousands), 2007-2011 ................................................................... 15
Table 13: Number of New Policies Sold (Thousands), 2011-2016 ................................................................... 16
Table 14: Number of Players (Absolute), 2007-2011 ........................................................................................ 17
Table 15: Number of Players (Absolute), 2011-2016 ........................................................................................ 18
Table 16: Value of Commissions (US$ Billion), 2007-2011 .............................................................................. 19
Table 17: Value of Commissions (PHP Billion), 2007-2011 .............................................................................. 19
Table 18: Value of Commissions (US$ Billion), 2011-2016 .............................................................................. 20
Table 19: Value of Commissions (PHP Billion), 2011-2016 .............................................................................. 20
Table 20: Share of Total Market Commissions (Percentage), 2007-2011 ........................................................ 21
Table 21: Share of Total Market Commissions (Percentage), 2011-2016 ........................................................ 22
Table 22: Gross Written Premiums – New Business (US$ Billion), 2007-2011 ................................................ 23
Table 23: Gross Written Premiums – New Business (PHP Billion), 2007-2011................................................ 23
Table 24: Gross Written Premiums – New Business (US$ Billion), 2011-2016 ................................................ 24
Table 25: Gross Written Premiums – New Business (PHP Billion), 2011-2016................................................ 24
Table 26: Number of New Policies Sold (Thousands), 2007-2011 ................................................................... 25
Table 27: Number of New Policies Sold (Thousands), 2011-2016 ................................................................... 26
Table 28: Number of Players (Absolute), 2007-2011 ........................................................................................ 27
Table 29: Number of Players (Absolute), 2011-2016 ........................................................................................ 28
Table 30: Value of Commissions (US$ Billion), 2007-2011 .............................................................................. 29
Table 31: Value of Commissions (PHP Billion), 2007-2011 .............................................................................. 29
Table 32: Value of Commissions (US$ Billion), 2011-2016 .............................................................................. 30
Table 33: Value of Commissions (PHP Billion), 2011-2016 .............................................................................. 30
Table 34: Share of Total Market Commissions (Percentage), 2007-2011 ........................................................ 31
Table 35: Share of Total Market Commissions (Percentage), 2011-2016 ........................................................ 32
Table 36: Gross Written Premiums – New Business (US$ Billion), 2007-2011 ................................................ 33
Table 37: Gross Written Premiums – New Business (PHP Billion), 2007-2011................................................ 33
Table 38: Gross Written Premiums – New Business (US$ Billion), 2011-2016 ................................................ 34
Table 39: Gross Written Premiums – New Business (PHP Billion), 2011-2016................................................ 34
Table 40: Number of New Policies Sold (Thousands), 2007-2011 ................................................................... 35
Table 41: Number of New Policies Sold (Thousands), 2011-2016 ................................................................... 36
Table 42: Number of Players (Absolute), 2007-2011 ........................................................................................ 37
Table 43: Number of Players (Absolute), 2011-2016 ........................................................................................ 38
Table 44: Value of Commissions (US$ Billion), 2007-2011 .............................................................................. 39
Table 45: Value of Commissions (PHP Billion), 2007-2011 .............................................................................. 39
Table 46: Value of Commissions (US$ Billion), 2011-2016 .............................................................................. 40
Table 47: Value of Commissions (PHP Billion), 2011-2016 .............................................................................. 40
Table 48: Share of Total Market Commissions (Percentage), 2007-2011 ........................................................ 41
Table 49: Share of Total Market Commissions (Percentage), 2011-2016 ........................................................ 42
Table 50: Gross Written Premiums – New Business (US$ Billion), 2007-2011 ................................................ 43
Table 51: Gross Written Premiums – New Business (PHP Billion), 2007-2011................................................ 43
Table 52: Gross Written Premiums – New Business (US$ Billion), 2011-2016 ................................................ 44
Table 53: Gross Written Premiums – New Business (PHP Billion), 2011-2016................................................ 44
Table 54: Number of New Policies Sold (Thousands), 2007-2011 ................................................................... 45
Table 55: Number of New Policies Sold (Thousands), 2011-2016 ................................................................... 46
Table 56: Number of Players (Absolute), 2007-2011 ........................................................................................ 47


Life Insurance Distribution Channels in the Philippines to 2016: Market Databook
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© Timetric. This product is licensed and is not to be photocopied
                                                                                                                              Published: June 2012
Table 57: Number of Players (Absolute), 2011-2016 ........................................................................................ 48




Life Insurance Distribution Channels in the Philippines to 2016: Market Databook
                                                                                                                                   Page 5
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                    Published: June 2012
LIST OF FIGURES

Figure 1: Value of Commissions (US$ Billion), 2007-2011 ..................................................................................9
Figure 2: Value of Commissions (US$ Billion) 2011-2016 ................................................................................ 10
Figure 3: Share of Total Market Commissions (Percentage), 2007-2011 ......................................................... 11
Figure 4: Share of Total Market Commissions (Percentage) 2011-2016 .......................................................... 12
Figure 5: Gross Written Premiums – New Business (US$ Billion), 2007-2011 ................................................. 13
Figure 6: Gross Written Premiums – New Business (US$ Billion) 2011-2016 .................................................. 14
Figure 7: Number of New Policies Sold (Thousands), 2007-2011 .................................................................... 15
Figure 8: Number of New Policies Sold (Thousands) 2011-2016 ..................................................................... 16
Figure 9: Number of Players (Absolute), 2007-2011 ......................................................................................... 17
Figure 10: Number of Players (Absolute) 2011-2016 ........................................................................................ 18
Figure 11: Value of Commissions (US$ Billion), 2007-2011 ............................................................................. 19
Figure 12: Value of Commissions (US$ Billion) 2011-2016 .............................................................................. 20
Figure 13: Share of Total Market Commissions (Percentage), 2007-2011 ....................................................... 21
Figure 14: Share of Total Market Commissions (Percentage) 2011-2016 ........................................................ 22
Figure 15: Gross Written Premiums – New Business (US$ Billion), 2007-2011 ............................................... 23
Figure 16: Gross Written Premiums – New Business (US$ Billion) 2011-2016 ................................................ 24
Figure 17: Number of New Policies Sold (Thousands), 2007-2011 .................................................................. 25
Figure 18: Number of New Policies Sold (Thousands) 2011-2016 ................................................................... 26
Figure 19: Number of Players (Absolute), 2007-2011 ....................................................................................... 27
Figure 20: Number of Players (Absolute) 2011-2016 ........................................................................................ 28
Figure 21: Value of Commissions (US$ Billion), 2007-2011 ............................................................................. 29
Figure 22: Value of Commissions (US$ Billion) 2011-2016 .............................................................................. 30
Figure 23: Share of Total Market Commissions (Percentage), 2007-2011 ....................................................... 31
Figure 24: Share of Total Market Commissions (Percentage) 2011-2016 ........................................................ 32
Figure 25: Gross Written Premiums – New Business (US$ Billion), 2007-2011 ............................................... 33
Figure 26: Gross Written Premiums – New Business (US$ Billion), 2011-2016 ............................................... 34
Figure 27: Number of New Policies Sold (Thousands), 2007-2011 .................................................................. 35
Figure 28: Number of New Policies Sold (Thousands) 2011-2016 ................................................................... 36
Figure 29: Number of Players (Absolute), 2007-2011 ....................................................................................... 37
Figure 30: Number of Players (Absolute) 2011-2016 ........................................................................................ 38
Figure 31: Value of Commissions (US$ Billion), 2007-2011 ............................................................................. 39
Figure 32: Value of Commissions (US$ Billion 2011-2016 ............................................................................... 40
Figure 33: Share of Total Market Commissions (Percentage), 2007-2011 ....................................................... 41
Figure 34: Share of Total Market Commissions (Percentage) 2011-2016 ........................................................ 42
Figure 35: Gross Written Premiums – New Business (US$ Billion), 2007-2011 ............................................... 43
Figure 36: Gross Written Premiums – New Business (US$ Billion) 2011-2016 ................................................ 44
Figure 37: Number of New Policies Sold (Thousands), 2007-2011 .................................................................. 45
Figure 38: Number of New Policies Sold (Thousands) 2011-2016 ................................................................... 46
Figure 39: Number of Players (Absolute), 2007-2011 ....................................................................................... 47
Figure 40: Number of Players (Absolute) 2011-2016 ........................................................................................ 48




Life Insurance Distribution Channels in the Philippines to 2016: Market Databook
                                                                                                                                    Page 6
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                     Published: June 2012
1 INTRODUCTION

1.1    What Is This Report About?

       This report is the result of extensive research into the life insurance market in the Philippines, providing
       historic and forecast data on the following life insurance distribution channels -

            Value of Commissions
            Share of Total Market Commissions
            Gross Written Premiums – New Business
            Number of New Policies Sold
            Number of Players
								
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