SINGAPORE, May 15 (Bernama) -- AM Best has maintained its market segment outlook on the Philippine non-life insurance market at stable, citing factors that include robust growth prospects, driven by economic development and rising insurance demand, along with stabilised reinsurance capacity.
In its Best’s Market Segment Report, “Market Segment Outlook: Philippines Non-Life Insurance,” AM Best states that price corrections in the property insurance segment and prudent risk selection will support premium rate adequacy going forward. In addition, insurers’ investment income is expected to be bolstered by a robust interest rate environment.
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