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Philippines' general insurance market to surpass $2 billion in 2022


A report by U.K.-based data analytics and consulting firm GlobalData PLC said that the Philippines' general insurance market is expected to reach 112.1 billion Philippine pesos ($2.2 billion) in 2022 from PGP 76.6 billion in 2017, Asia Insurance Review reports. Susceptibility to natural calamities combined with the government's push towards infrastructural investments and related insurance coverage is expected to drive the market.

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