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International

Philippines: Insurance sector likely to post lower premium volume in 2014

December 22, 2014 Reprints

Emmanuel F. Dooc, Insurance Commissioner of the Philippines, has said that it would be an "uphill climb" for the insurance sector in 2014 to match the 2013 total insurance premium volume worth 204 billion Philippine pesos ($4.56 billion), Inquirer.net reported.

Total premium volume fell 15.3% year on year to PHP 132.9 billion ($2.97 billion) for the January to September period in 2014.

But net premiums written for the nonlife sector increased 11.1% year on year to PHP 23.6 billion ($528.6 million) during the period.

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Philippines: Insurance sector likely to post lower premium volume in 2014

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