Philippines: More mergers and acquisitions expected in nonlife sector

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Higher capital requirements in the Philippines could lead to more mergers and acquisitions in the nonlife sector in the near and medium term, the Philippine Daily Inquirer reported.

Philippine Insurers and Reinsurers Association president Emmanuel Que said smaller players may find it difficult to meet the increasing capital requirements, adding that some may prefer mergers, while a few may surrender their permits.

The number of nonlife insurers in the Philippines has fallen to 69 from 100 a few years back.

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