Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review
This note summarizes the conclusions of the review of the insurance sector in the Philippines as part of the Financial Sector Assessment Program (FSAP). The main objectives of the assessment are to review the performance and structure of the insura...
| Main Authors: | , |
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/04/18019614/philippines-insurance-sector-market-risk-based-review-technical-note http://hdl.handle.net/10986/16058 |
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okr-10986-16058 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INSURANCE ACCOUNTING ACCOUNTING STANDARDS ACTS OF GOD AGENTS ASSET HOLDING ASSET MANAGEMENT ASSET PRICE ASSETS ASSURANCE BANK DEPOSITS BANKING LAW BANKING SECTOR BANKING SECTORS BANKING SERVICES BODILY INJURY BONDS BOOK VALUE BOOK VALUES BORROWER BROKER BROKERS BUSINESS INVESTMENTS CAPITAL MARKETS CAPITAL REQUIREMENT CAPITALIZATION CASH FLOWS CATASTROPHES CATASTROPHIC RISKS CLIENT BASE COMMERCIAL BANKING COMMISSIONS COMMON STOCKS COMPENSATION CONSUMER PROTECTION CONVENTIONAL INSURANCE COOPERATIVE BANKS COUNTRY TO COUNTRY COVERAGE CREDIBILITY CREDIT PROVIDERS CROP INSURANCE DEBENTURES DEPOSITS DISCOUNT RATE DISPOSABLE INCOME EARNED PREMIUM EQUIPMENT EQUITIES EXPENSE RATIOS EXPOSURE EXPOSURES FACULTATIVE REINSURANCE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STRESSES FINANCIAL SUPPORT FIRE INSURANCE FIXED INTEREST FOREIGN EQUITY FOREIGN INSURER FOREIGN INSURERS FOREIGN OWNERSHIP GENERAL INSURANCE GOVERNMENT REGULATIONS GOVERNMENT SECURITIES GRACE PERIOD GUARANTEE FUND HARMONIZATION HEALTH CARE HEALTH INSURANCE HOLDING INCOME INCOME LEVELS INCOMES INDEMNITY INFORMAL INSURANCE INFORMAL PROVIDERS INSPECTIONS INSTITUTIONAL INVESTOR INSTRUMENT INSURANCE INSURANCE ACTIVITIES INSURANCE BROKER INSURANCE BROKERS INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE CORPORATION INSURANCE INDUSTRY INSURANCE LAW INSURANCE LICENSES INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE RATES INSURANCE SUPERVISORS INSURANCE SYSTEM INSURANCES INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL STANDARDS INVESTMENT MARKETS INVESTMENT OPPORTUNITIES INVESTMENT OPTIONS INVESTMENT PORTFOLIO INVESTMENT PROCESSES INVESTMENT PRODUCTS INVESTMENT RATES IPO ISSUANCE JURISDICTION LAWS LEGAL PROTECTIONS LIABILITY LIABILITY INSURANCE LIBERALIZATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIFE INSURANCE PREMIUM LIFE INSURANCE PRODUCT LIFE INSURANCE PRODUCTS LIFE INSURANCES LIFE INSURERS LIQUIDITY LOCAL CURRENCY LOCAL MARKET MARKET EXPANSION MARKET PARTICIPANTS MARKET PORTFOLIO MARKET SECURITIES MARKET SHARES MARKET SIZE MARKET VALUE MARKET VOLATILITY MICRO FINANCE MICRO FINANCE INSTITUTIONS MICRO INSURANCE MICRO-INSURANCE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTIONS MICROINSURANCE MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MORTGAGE MOTOR INSURANCE MUTUAL FUNDS MUTUAL INSURANCE COMPANIES NON LIFE INSURANCE NON-LIFE INSURANCE PAR VALUE PAYMENT SYSTEM PAYMENT SYSTEMS PENSION POLICYHOLDERS PORTFOLIO PORTFOLIOS PRICE COMPETITION PRICE VOLATILITY PRICE WARS PRIVATE INSURANCE PRIVATE MARKET PRIVATE SECTOR DEVELOPMENT PROGRAMS PROPERTY INSURANCE PROVISIONING RULES PRUDENTIAL SUPERVISION RATE OF GROWTH RATES OF RETURN REAL ESTATE REAL ESTATE MORTGAGES RECOVERABLES REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REQUIREMENT REGULATORY REQUIREMENTS REGULATORY RESTRICTIONS REGULATORY SYSTEM REINSURANCE REINSURANCE COMPANIES REINSURANCE PREMIUMS REINSURANCE TRANSACTIONS REINSURERS REMITTANCE REMITTANCES REPUTATION RESERVE RESERVES RETURN RETURNS RISK FACTORS RISK POOLING RISK SHARING RURAL BANKS SAVINGS SECURITIES SEPARATE ASSET SETTLEMENT SHAREHOLDER SHAREHOLDERS SOCIAL SECURITY SOLVENCY STOCKS SUPERVISORY REGIME SURETY TAX TAX REGIME TECHNICAL ASSISTANCE TRACK RECORD TRANSACTION TREATIES TREATY TRUSTEES TURNOVER UNDERINSURANCE UNDERWRITING VALUATION VALUATION STANDARDS WORKERS COMPENSATION |
| spellingShingle |
ACCESS TO INSURANCE ACCOUNTING ACCOUNTING STANDARDS ACTS OF GOD AGENTS ASSET HOLDING ASSET MANAGEMENT ASSET PRICE ASSETS ASSURANCE BANK DEPOSITS BANKING LAW BANKING SECTOR BANKING SECTORS BANKING SERVICES BODILY INJURY BONDS BOOK VALUE BOOK VALUES BORROWER BROKER BROKERS BUSINESS INVESTMENTS CAPITAL MARKETS CAPITAL REQUIREMENT CAPITALIZATION CASH FLOWS CATASTROPHES CATASTROPHIC RISKS CLIENT BASE COMMERCIAL BANKING COMMISSIONS COMMON STOCKS COMPENSATION CONSUMER PROTECTION CONVENTIONAL INSURANCE COOPERATIVE BANKS COUNTRY TO COUNTRY COVERAGE CREDIBILITY CREDIT PROVIDERS CROP INSURANCE DEBENTURES DEPOSITS DISCOUNT RATE DISPOSABLE INCOME EARNED PREMIUM EQUIPMENT EQUITIES EXPENSE RATIOS EXPOSURE EXPOSURES FACULTATIVE REINSURANCE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STRESSES FINANCIAL SUPPORT FIRE INSURANCE FIXED INTEREST FOREIGN EQUITY FOREIGN INSURER FOREIGN INSURERS FOREIGN OWNERSHIP GENERAL INSURANCE GOVERNMENT REGULATIONS GOVERNMENT SECURITIES GRACE PERIOD GUARANTEE FUND HARMONIZATION HEALTH CARE HEALTH INSURANCE HOLDING INCOME INCOME LEVELS INCOMES INDEMNITY INFORMAL INSURANCE INFORMAL PROVIDERS INSPECTIONS INSTITUTIONAL INVESTOR INSTRUMENT INSURANCE INSURANCE ACTIVITIES INSURANCE BROKER INSURANCE BROKERS INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE CORPORATION INSURANCE INDUSTRY INSURANCE LAW INSURANCE LICENSES INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE RATES INSURANCE SUPERVISORS INSURANCE SYSTEM INSURANCES INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL STANDARDS INVESTMENT MARKETS INVESTMENT OPPORTUNITIES INVESTMENT OPTIONS INVESTMENT PORTFOLIO INVESTMENT PROCESSES INVESTMENT PRODUCTS INVESTMENT RATES IPO ISSUANCE JURISDICTION LAWS LEGAL PROTECTIONS LIABILITY LIABILITY INSURANCE LIBERALIZATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIFE INSURANCE PREMIUM LIFE INSURANCE PRODUCT LIFE INSURANCE PRODUCTS LIFE INSURANCES LIFE INSURERS LIQUIDITY LOCAL CURRENCY LOCAL MARKET MARKET EXPANSION MARKET PARTICIPANTS MARKET PORTFOLIO MARKET SECURITIES MARKET SHARES MARKET SIZE MARKET VALUE MARKET VOLATILITY MICRO FINANCE MICRO FINANCE INSTITUTIONS MICRO INSURANCE MICRO-INSURANCE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTIONS MICROINSURANCE MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MORTGAGE MOTOR INSURANCE MUTUAL FUNDS MUTUAL INSURANCE COMPANIES NON LIFE INSURANCE NON-LIFE INSURANCE PAR VALUE PAYMENT SYSTEM PAYMENT SYSTEMS PENSION POLICYHOLDERS PORTFOLIO PORTFOLIOS PRICE COMPETITION PRICE VOLATILITY PRICE WARS PRIVATE INSURANCE PRIVATE MARKET PRIVATE SECTOR DEVELOPMENT PROGRAMS PROPERTY INSURANCE PROVISIONING RULES PRUDENTIAL SUPERVISION RATE OF GROWTH RATES OF RETURN REAL ESTATE REAL ESTATE MORTGAGES RECOVERABLES REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REQUIREMENT REGULATORY REQUIREMENTS REGULATORY RESTRICTIONS REGULATORY SYSTEM REINSURANCE REINSURANCE COMPANIES REINSURANCE PREMIUMS REINSURANCE TRANSACTIONS REINSURERS REMITTANCE REMITTANCES REPUTATION RESERVE RESERVES RETURN RETURNS RISK FACTORS RISK POOLING RISK SHARING RURAL BANKS SAVINGS SECURITIES SEPARATE ASSET SETTLEMENT SHAREHOLDER SHAREHOLDERS SOCIAL SECURITY SOLVENCY STOCKS SUPERVISORY REGIME SURETY TAX TAX REGIME TECHNICAL ASSISTANCE TRACK RECORD TRANSACTION TREATIES TREATY TRUSTEES TURNOVER UNDERINSURANCE UNDERWRITING VALUATION VALUATION STANDARDS WORKERS COMPENSATION World Bank International Monetary Fund Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review |
| geographic_facet |
East Asia and Pacific Philippines |
| description |
This note summarizes the conclusions of
the review of the insurance sector in the Philippines as
part of the Financial Sector Assessment Program (FSAP). The
main objectives of the assessment are to review the
performance and structure of the insurance sector in the
Philippines with respect to: a) the potential exposure of
the sector to vulnerabilities, either generated from the
sector or in response to other circumstances outside the
sector that could either be magnified or dampened by the
sector; b) the potential for the sector to grow and develop,
in its own context and also to contribute to the overall
long term growth and development of the economy and the
well-being of the Philippines people; and c) the
relationship between the oversight and regulatory
arrangements for the sector against international norms and
best practices. In summary, the key conclusions of this
analysis are: i) the financial performance of the sector has
been particularly stable although the outlook is less
sanguine; ii) financial vulnerabilities are present but the
challenges would appear to be manageable with careful and
vigilant oversight and some targeted policy measures; and
iii) opportunities for growth in the sector are wide ranging. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review |
| title_short |
Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review |
| title_full |
Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review |
| title_fullStr |
Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review |
| title_full_unstemmed |
Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review |
| title_sort |
financial sector assessment program update : philippines - the insurance sector, a market and risk based review |
| publisher |
World Bank, Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2010/04/18019614/philippines-insurance-sector-market-risk-based-review-technical-note http://hdl.handle.net/10986/16058 |
| _version_ |
1764431485793730560 |
| spelling |
okr-10986-160582021-04-23T14:03:23Z Financial Sector Assessment Program Update : Philippines - The Insurance Sector, A Market and Risk Based Review World Bank International Monetary Fund ACCESS TO INSURANCE ACCOUNTING ACCOUNTING STANDARDS ACTS OF GOD AGENTS ASSET HOLDING ASSET MANAGEMENT ASSET PRICE ASSETS ASSURANCE BANK DEPOSITS BANKING LAW BANKING SECTOR BANKING SECTORS BANKING SERVICES BODILY INJURY BONDS BOOK VALUE BOOK VALUES BORROWER BROKER BROKERS BUSINESS INVESTMENTS CAPITAL MARKETS CAPITAL REQUIREMENT CAPITALIZATION CASH FLOWS CATASTROPHES CATASTROPHIC RISKS CLIENT BASE COMMERCIAL BANKING COMMISSIONS COMMON STOCKS COMPENSATION CONSUMER PROTECTION CONVENTIONAL INSURANCE COOPERATIVE BANKS COUNTRY TO COUNTRY COVERAGE CREDIBILITY CREDIT PROVIDERS CROP INSURANCE DEBENTURES DEPOSITS DISCOUNT RATE DISPOSABLE INCOME EARNED PREMIUM EQUIPMENT EQUITIES EXPENSE RATIOS EXPOSURE EXPOSURES FACULTATIVE REINSURANCE FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL PERFORMANCE FINANCIAL PRODUCTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STRESSES FINANCIAL SUPPORT FIRE INSURANCE FIXED INTEREST FOREIGN EQUITY FOREIGN INSURER FOREIGN INSURERS FOREIGN OWNERSHIP GENERAL INSURANCE GOVERNMENT REGULATIONS GOVERNMENT SECURITIES GRACE PERIOD GUARANTEE FUND HARMONIZATION HEALTH CARE HEALTH INSURANCE HOLDING INCOME INCOME LEVELS INCOMES INDEMNITY INFORMAL INSURANCE INFORMAL PROVIDERS INSPECTIONS INSTITUTIONAL INVESTOR INSTRUMENT INSURANCE INSURANCE ACTIVITIES INSURANCE BROKER INSURANCE BROKERS INSURANCE CLAIMS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE CORPORATION INSURANCE INDUSTRY INSURANCE LAW INSURANCE LICENSES INSURANCE MARKET INSURANCE MARKETS INSURANCE PENETRATION INSURANCE POLICIES INSURANCE PRODUCTS INSURANCE RATES INSURANCE SUPERVISORS INSURANCE SYSTEM INSURANCES INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS INTERNATIONAL BANK INTERNATIONAL STANDARDS INVESTMENT MARKETS INVESTMENT OPPORTUNITIES INVESTMENT OPTIONS INVESTMENT PORTFOLIO INVESTMENT PROCESSES INVESTMENT PRODUCTS INVESTMENT RATES IPO ISSUANCE JURISDICTION LAWS LEGAL PROTECTIONS LIABILITY LIABILITY INSURANCE LIBERALIZATION LIFE INSURANCE LIFE INSURANCE COMPANIES LIFE INSURANCE PREMIUM LIFE INSURANCE PRODUCT LIFE INSURANCE PRODUCTS LIFE INSURANCES LIFE INSURERS LIQUIDITY LOCAL CURRENCY LOCAL MARKET MARKET EXPANSION MARKET PARTICIPANTS MARKET PORTFOLIO MARKET SECURITIES MARKET SHARES MARKET SIZE MARKET VALUE MARKET VOLATILITY MICRO FINANCE MICRO FINANCE INSTITUTIONS MICRO INSURANCE MICRO-INSURANCE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTIONS MICROINSURANCE MINIMUM CAPITAL REQUIREMENTS MONETARY FUND MORTGAGE MOTOR INSURANCE MUTUAL FUNDS MUTUAL INSURANCE COMPANIES NON LIFE INSURANCE NON-LIFE INSURANCE PAR VALUE PAYMENT SYSTEM PAYMENT SYSTEMS PENSION POLICYHOLDERS PORTFOLIO PORTFOLIOS PRICE COMPETITION PRICE VOLATILITY PRICE WARS PRIVATE INSURANCE PRIVATE MARKET PRIVATE SECTOR DEVELOPMENT PROGRAMS PROPERTY INSURANCE PROVISIONING RULES PRUDENTIAL SUPERVISION RATE OF GROWTH RATES OF RETURN REAL ESTATE REAL ESTATE MORTGAGES RECOVERABLES REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY REQUIREMENT REGULATORY REQUIREMENTS REGULATORY RESTRICTIONS REGULATORY SYSTEM REINSURANCE REINSURANCE COMPANIES REINSURANCE PREMIUMS REINSURANCE TRANSACTIONS REINSURERS REMITTANCE REMITTANCES REPUTATION RESERVE RESERVES RETURN RETURNS RISK FACTORS RISK POOLING RISK SHARING RURAL BANKS SAVINGS SECURITIES SEPARATE ASSET SETTLEMENT SHAREHOLDER SHAREHOLDERS SOCIAL SECURITY SOLVENCY STOCKS SUPERVISORY REGIME SURETY TAX TAX REGIME TECHNICAL ASSISTANCE TRACK RECORD TRANSACTION TREATIES TREATY TRUSTEES TURNOVER UNDERINSURANCE UNDERWRITING VALUATION VALUATION STANDARDS WORKERS COMPENSATION This note summarizes the conclusions of the review of the insurance sector in the Philippines as part of the Financial Sector Assessment Program (FSAP). The main objectives of the assessment are to review the performance and structure of the insurance sector in the Philippines with respect to: a) the potential exposure of the sector to vulnerabilities, either generated from the sector or in response to other circumstances outside the sector that could either be magnified or dampened by the sector; b) the potential for the sector to grow and develop, in its own context and also to contribute to the overall long term growth and development of the economy and the well-being of the Philippines people; and c) the relationship between the oversight and regulatory arrangements for the sector against international norms and best practices. In summary, the key conclusions of this analysis are: i) the financial performance of the sector has been particularly stable although the outlook is less sanguine; ii) financial vulnerabilities are present but the challenges would appear to be manageable with careful and vigilant oversight and some targeted policy measures; and iii) opportunities for growth in the sector are wide ranging. 2013-10-03T16:40:29Z 2013-10-03T16:40:29Z 2010-04 http://documents.worldbank.org/curated/en/2010/04/18019614/philippines-insurance-sector-market-risk-based-review-technical-note http://hdl.handle.net/10986/16058 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work East Asia and Pacific Philippines |