Although BMI is reasonably upbeat about the prospects for both of the major segments in 2013, we suggest that the outlook is considerably more exciting for the (substantially larger) life segment than for the Philippines’ non-life segment. It is clear that life density is growing rapidly, with the result that the life segment should be able to sustain double-digit growth (if from a base that is low by most metrics) for some years. The development of the segment is in part due to the generally positive economic environment. It is also due to the ongoing improvement in perceptions of risk …
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