In 2021, the total losses incurred for motor car insurance businesses in the Philippines amounted to approximately 10 billion Philippine pesos - the highest among other segments in the non-life insurance industry. Incurred losses pertain to claims paid to compensate the insured, based on the coverage outlined in the policy contract.
Incurred losses for non-life insurance business in the Philippines in 2021, by line of business
(in million Philippine pesos)
Characteristic
Value of incurred losses in million Philippine pesos
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PIRA. (June 7, 2023). Incurred losses for non-life insurance business in the Philippines in 2021, by line of business (in million Philippine pesos) [Graph]. In Statista. Retrieved December 19, 2024, from https://www.statista.com/statistics/1057990/philippines-incurred-losses-non-life-insurance-business-by-type/
PIRA. "Incurred losses for non-life insurance business in the Philippines in 2021, by line of business (in million Philippine pesos)." Chart. June 7, 2023. Statista. Accessed December 19, 2024. https://www.statista.com/statistics/1057990/philippines-incurred-losses-non-life-insurance-business-by-type/
PIRA. (2023). Incurred losses for non-life insurance business in the Philippines in 2021, by line of business (in million Philippine pesos). Statista. Statista Inc.. Accessed: December 19, 2024. https://www.statista.com/statistics/1057990/philippines-incurred-losses-non-life-insurance-business-by-type/
PIRA. "Incurred Losses for Non-life Insurance Business in The Philippines in 2021, by Line of Business (in Million Philippine Pesos)." Statista, Statista Inc., 7 Jun 2023, https://www.statista.com/statistics/1057990/philippines-incurred-losses-non-life-insurance-business-by-type/
PIRA, Incurred losses for non-life insurance business in the Philippines in 2021, by line of business (in million Philippine pesos) Statista, https://www.statista.com/statistics/1057990/philippines-incurred-losses-non-life-insurance-business-by-type/ (last visited December 19, 2024)
Incurred losses for non-life insurance business in the Philippines in 2021, by line of business (in million Philippine pesos) [Graph], PIRA, June 7, 2023. [Online]. Available: https://www.statista.com/statistics/1057990/philippines-incurred-losses-non-life-insurance-business-by-type/
