Best’s Market Segment Report: AM Best Maintains Outlook on Philippines’ Non-Life Insurance Segment at Stable

SINGAPORE, June 3 (Bernama) -- AM Best has maintained its outlook on the Philippines’ non-life insurance segment at stable, citing in part robust growth prospects for the industry driven by economic expansion and a pipeline of large domestic infrastructure projects.

In its new Best’s Market Segment Report, “Market Segment Outlook: Philippines Non-Life Insurance,” AM Best also takes note of the country’s stabilised reinsurance capacity, the emergence of insurance pools to support underwriting capacity at the primary level, and a broadly supportive pricing environment. Another supporting factor is investment income, which is expected to remain bolstered by a robust domestic interest rate environment.