In 2018, the life insurance penetration rate in the Philippines was around 1.6 percent. Over the last few years, the insurance industry has seen a steady development owing to the ratio of premiums underwritten from life and non-life insurance companies. In that same year, the penetration rate of the insurance industry in the country was about 3.1 percent.
Yearly penetration rate of life insurance industry in the Philippines from 2015 to 2018
Characteristic
Penetration rate
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Philippine Life Insurance Association. (July 24, 2020). Yearly penetration rate of life insurance industry in the Philippines from 2015 to 2018 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1166194/philippines-life-insurance-penetration-rate-yearly/
Philippine Life Insurance Association. "Yearly penetration rate of life insurance industry in the Philippines from 2015 to 2018." Chart. July 24, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1166194/philippines-life-insurance-penetration-rate-yearly/
Philippine Life Insurance Association. (2020). Yearly penetration rate of life insurance industry in the Philippines from 2015 to 2018. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1166194/philippines-life-insurance-penetration-rate-yearly/
Philippine Life Insurance Association. "Yearly Penetration Rate of Life Insurance Industry in The Philippines from 2015 to 2018." Statista, Statista Inc., 24 Jul 2020, https://www.statista.com/statistics/1166194/philippines-life-insurance-penetration-rate-yearly/
Philippine Life Insurance Association, Yearly penetration rate of life insurance industry in the Philippines from 2015 to 2018 Statista, https://www.statista.com/statistics/1166194/philippines-life-insurance-penetration-rate-yearly/ (last visited July 22, 2024)
Yearly penetration rate of life insurance industry in the Philippines from 2015 to 2018 [Graph], Philippine Life Insurance Association, July 24, 2020. [Online]. Available: https://www.statista.com/statistics/1166194/philippines-life-insurance-penetration-rate-yearly/