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At the Insurance Asia Awards 2023, Malayan Insurance Co. Inc., was awarded the title of “Domestic General Insurer of the Year” in the Philippines. It is one of the leading non-life insurers in the country.
Philippines Motor Insurance Market Size
Philippines Motor Insurance Market Growth
Philippines Motor Insurance Market Share
Philippines Motor Insurance Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Motor Insurance Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Motor Insurance Historical Market (2018-2023)
8.3 Asia Pacific Motor Insurance Market Forecast (2024-2032)
9 Philippines Motor Insurance Market Overview
9.1 Key Industry Highlights
9.2 Philippines Motor Insurance Historical Market (2018-2023)
9.3 Philippines Motor Insurance Market Forecast (2024-2032)
10 Philippines Motor Insurance Market by Policy Type
10.1 Liability Insurance
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Comprehensive Insurance
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Collision Coverage
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Personal Injury Protection
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 Philippines Motor Insurance Market by Premium Type
11.1 Personal Insurance Premiums
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Commercial Insurance Premiums
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Philippines Motor Insurance Market by Distribution Channel
12.1 Direct Response
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Insurance Agents
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Banks
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Malayan Insurance Co. Inc.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Prudential Guarantee and Assurance, Inc.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 AXA
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 BPI/MS Insurance Corporation
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 FPG Insurance Co., Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 PARAMOUNT LIFE AND GENERAL INSURANCE CORPORATION
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Standard Insurance Co. Inc.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Cocogen Insurance, Inc
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Motor Insurance Market: Key Industry Highlights, 2018 and 2032
2. Philippines Motor Insurance Market: Key Industry Highlights, 2018 and 2032
3. Philippines Motor Insurance Historical Market: Breakup by Policy Type (USD Billion), 2018-2023
4. Philippines Motor Insurance Market Forecast: Breakup by Policy Type (USD Billion), 2024-2032
5. Philippines Motor Insurance Historical Market: Breakup by Premium Type (USD Billion), 2018-2023
6. Philippines Motor Insurance Market Forecast: Breakup by Premium Type (USD Billion), 2024-2032
7. Philippines Motor Insurance Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Philippines Motor Insurance Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Philippines Motor Insurance Market Structure
The market reached nearly USD 2.23 billion in 2023.
The market is projected to grow at a CAGR of 3.6% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 3.07 billion in 2032.
The different policy types in the market are liability insurance, comprehensive insurance, collision coverage, and personal injury protection.
The different distribution channels in the market are direct response, insurance agents, and banks, among others.
The different categories of premiums in the market include personal insurance premiums and commercial insurance premiums.
The key market players are Malayan Insurance Co. Inc., Prudential Guarantee and Assurance, Inc., AXA, BPI/MS Insurance Corporation, FPG Insurance Co., Inc., PARAMOUNT LIFE AND GENERAL INSURANCE CORPORATION, Standard Insurance Co. Inc., and Cocogen Insurance, Inc, among others.
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