penetration rate of the insurance industry in the country was about 3.1 percent.
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 Yearly penetration rate of life insurance industry in the Philippines from 2015 to 2018
Basic Account
Get to know the platform
You only have access to basic statistics.
This statistic is not included in your account.
Starter Account
The ideal entry-level account for individual users
- Instant access to 1m statistics
- Download in XLS, PDF & PNG format
- Detailed references
$199 USD / Month *
Professional Account
Full access
Business Solutions including all features.
* Prices do not include sales tax.
Other statistics that may interest you Statistics on
About the industry
10
- Premium Statistic Traditional life insurance premium income Philippines 2017-2023
- Premium Statistic Life insurance distribution channels in the U.S. 2019-2021
- Premium Statistic Value sum assured on new business variable life insurance Philippines 2013-2020
- Premium Statistic Life, health, and protection insurance premiums in France 2015-2021
- Premium Statistic Largest U.S. life insurance companies 2022, by total direct life insurance premiums
- Premium Statistic Revenue in gross written premiums of life insurance companies Belgium 2008-2022
- Premium Statistic Average technical provisions of life insurance companies in Belgium 2008-2022
- Premium Statistic Number of life insurance companies in Germany 1980-2022
- Premium Statistic Total premium revenue for life insurance companies Germany 1980-2022
- Premium Statistic Total revenue of U.S. life/annuity insurance industry 2009-2022
About the region
10
- Premium Statistic Net worth of the insurance sector Philippines 2014-2023
- Premium Statistic Insurance penetration Philippines 2016-2023
- Premium Statistic Major non-life insurance companies Philippines 2023, by assets
- Premium Statistic Asset value of MBAs Philippines 2014-2022
- Premium Statistic Premiums value of MBAs in the Philippines 2014-2022
- Premium Statistic Non-life insurance density in the Philippines 2013-2022
- Premium Statistic Number of members of MBAs Philippines 2014-2022
- Premium Statistic Premiums value of GSIS in the Philippines 2014-2022
- Premium Statistic Number of members of GSIS Philippines 2014-2022
- Premium Statistic GVA from insurance and pension funding Philippines 2018-2023
Selected statistics
8
- Premium Statistic Largest U.S. life insurance companies in 2018, by direct annuity considerations
- Premium Statistic U.S. life insurance: number of policies in force 2008-2022
- Premium Statistic Purchases of life insurance in the U.S. 2018, by state
- Basic Statistic Types of mortgages held by U.S. life insurers 2018
- Premium Statistic U.S. life insurance: number of individual life policies purchased 2009-2018
- Premium Statistic U.S. life insurance: number of group policies purchased 2009-2018
- Premium Statistic Rate of return on life insurers' invested assets in the U.S. 2000-2018
- Premium Statistic Life insurance coverage sentiment in the U.S. 2016, by age
Other regions
10
- Premium Statistic Value of gross written premiums in Russia 2021-2022, by market segment
- Premium Statistic Claims paid by fire and natural forces insurance companies in Albania Q1 2021
- Premium Statistic Microinsurance coverage ratio Africa 2015, by country
- Premium Statistic Total insurance-related M&A deal value APAC 2014-2018
- Premium Statistic Number of (non-life) Casco insurance polices of land vehicles in Poland 2012-2018
- Premium Statistic Life insurance market share in terms of gross premium in the Benelux region 2018
- Basic Statistic COVID-19: estimated value of insurance claims payout to business in the UK 2020
- Premium Statistic Preferred travel insurance policies in Italy 2019, by type
- Premium Statistic Claims incurred net of reinsurances for life insurance in Norway 2017-2021
- Premium Statistic Number of property and casualty insurance companies Germany 1980-2022
Related statistics
10
- Premium Statistic Incurred losses for non-life insurance business Philippines 2015-2020
- Premium Statistic Incurred losses for fire insurance business Philippines 2015-2020
- Premium Statistic Incurred losses for marine and aviation insurance business Philippines 2015-2020
- Premium Statistic Premiums written for motor car insurance Philippines 2015-2021
- Premium Statistic Incurred losses motor car insurance business Philippines 2015-2020
- Premium Statistic Incurred losses for non-life insurance business Philippines 2020, by type
- Premium Statistic Share of direct premiums written for non-life insurance Philippines 2020, by business
- Premium Statistic Average value paid per claim PhilHealth Philippines 2017, by membership
- Premium Statistic Income of the financial and insurance activities sector Philippines 2017, by industry
- Premium Statistic Number employees financial insurance activities sector Philippines 2016, by industry
Further related statistics
10
- Ping An Insurance's annual revenue 2012-2022
- Total assets of China Pacific Insurance 2012-2022
- Revenues of China Life Insurance 2013-2023
- Total revenue of Prudential Financial 2006-2023
- Medicare - number of skilled nursing facilities in the U.S. 1967-2021
- Total number of shares issued by Allianz Group 2009-2023
- Structure of investment portfolio of Allianz Group 2014-2023
- Assets under management of Allianz Group 2005-2023
- Distribution of Allianz Group third-party assets under management 2023, by region
- Ratio of private to total health expenditure in Southeast Asian countries 2007
Further Content: You might find this interesting as well
Statistics
- Ping An Insurance's annual revenue 2012-2022
- Total assets of China Pacific Insurance 2012-2022
- Revenues of China Life Insurance 2013-2023
- Total revenue of Prudential Financial 2006-2023
- Medicare - number of skilled nursing facilities in the U.S. 1967-2021
- Total number of shares issued by Allianz Group 2009-2023
- Structure of investment portfolio of Allianz Group 2014-2023
- Assets under management of Allianz Group 2005-2023
- Distribution of Allianz Group third-party assets under management 2023, by region
- Ratio of private to total health expenditure in Southeast Asian countries 2007
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 May 02, 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 May 02, 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: May 02, 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 May 02, 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/