Latest news with #SusanTan
Yahoo
15-05-2025
- Business
- Yahoo
Best's Market Segment Report: AM Best Maintains Outlook on Philippine Non-Life Insurance Segment at Stable
SINGAPORE, May 15, 2025--(BUSINESS WIRE)--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. However, AM Best notes offsetting factors such as increasingly volatile weather conditions that could challenge the non-life insurance segment and generate volatility in underwriting results. AM Best also considers regulatory and disclosure requirements as beneficial in the long term, but these may increase short-term operational costs. Uncertainties in global trade policies—particularly with the United States, the Philippines' largest export partner—could pose significant risks as well. Gross premiums written in the non-life segment increased by 10% in 2024 to reach PHP 140 billion (USD 2.4 billion), according to the country's insurance industry regulator, the Insurance Commission. "During the next 12 months, we expect Philippine's non-life insurance market to continue its growth, driven by the country's economic development and increasing insurance demand across various segments such as property, motor, and casualty," said Susan Tan, senior financial analyst, AM Best. "This is anticipated to drive up insurance penetration in the medium term." The availability of reinsurance capacity in the Philippine non-life insurance market is steadily increasing, particularly for gross excess of loss programmes, although reinsurers remain cautious and continue to maintain pricing and underwriting discipline, particularly in high-risk, catastrophe exposed areas. "The increased availability of reinsurance capacity is expected to ease the heightened catastrophe risk faced by non-life insurers," said Victoria Ohorodnyk, director, AM Best. "This favourable development should help reduce their growing risk retention while maintaining market share." To access the full copy of this special report, please visit Tan will deliver a presentation on this market segment outlook at the Philippine Insurance Summit 2025. The event takes place 20 May 2025, at Space at One Ayala in Makati City, Philippines. To learn more about the Philippine Insurance Summit 2025, please visit the event overview. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Susan Tan Financial Analyst +65 6303 5023 Victoria Ohorodnyk Director, Analytics +65 6303 5023 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Cynthia Ang Senior Industry Research Analyst +65 6303 5026 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-05-2025
- Business
- Business Wire
Best's Market Segment Report: AM Best Maintains Outlook on Philippine Non-Life Insurance Segment at Stable
SINGAPORE--(BUSINESS WIRE)-- 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. However, AM Best notes offsetting factors such as increasingly volatile weather conditions that could challenge the non-life insurance segment and generate volatility in underwriting results. AM Best also considers regulatory and disclosure requirements as beneficial in the long term, but these may increase short-term operational costs. Uncertainties in global trade policies—particularly with the United States, the Philippines' largest export partner—could pose significant risks as well. Gross premiums written in the non-life segment increased by 10% in 2024 to reach PHP 140 billion (USD 2.4 billion), according to the country's insurance industry regulator, the Insurance Commission. 'During the next 12 months, we expect Philippine's non-life insurance market to continue its growth, driven by the country's economic development and increasing insurance demand across various segments such as property, motor, and casualty,' said Susan Tan, senior financial analyst, AM Best. 'This is anticipated to drive up insurance penetration in the medium term.' The availability of reinsurance capacity in the Philippine non-life insurance market is steadily increasing, particularly for gross excess of loss programmes, although reinsurers remain cautious and continue to maintain pricing and underwriting discipline, particularly in high-risk, catastrophe exposed areas. 'The increased availability of reinsurance capacity is expected to ease the heightened catastrophe risk faced by non-life insurers,' said Victoria Ohorodnyk, director, AM Best. 'This favourable development should help reduce their growing risk retention while maintaining market share.' To access the full copy of this special report, please visit Tan will deliver a presentation on this market segment outlook at the Philippine Insurance Summit 2025. The event takes place 20 May 2025, at Space at One Ayala in Makati City, Philippines. To learn more about the Philippine Insurance Summit 2025, please visit the event overview.
Barnama
13-05-2025
- Business
- Barnama
AM Best to Participate at the 2025 Philippine Insurance Summit
SINGAPORE, May 13 (Bernama) -- AM Best's Susan Tan, senior financial analyst, will speak at the Philippine Insurance Summit to be held 20 May 2025, in Makati City, Philippines. Tan is a Singapore-based analyst for AM Best and oversees a portfolio of rated insurers that operate in the Asia Pacific region. At the event, she will discuss AM Best's latest outlook on the Philippine non-life insurance segment.
Yahoo
13-05-2025
- Business
- Yahoo
AM Best to Participate at the 2025 Philippine Insurance Summit
SINGAPORE, May 13, 2025--(BUSINESS WIRE)--AM Best's Susan Tan, senior financial analyst, will speak at the Philippine Insurance Summit to be held 20 May 2025, in Makati City, Philippines. Tan is a Singapore-based analyst for AM Best and oversees a portfolio of rated insurers that operate in the Asia Pacific region. At the event, she will discuss AM Best's latest outlook on the Philippine non-life insurance segment. Additionally, Rob Curtis, managing director and chief executive officer, Asia Pacific, and Johnathan Wong, market development analyst, Asia Pacific, will be in attendance and available for meetings. To arrange a meeting with either Curtis or Wong to learn more about AM Best, its role in the insurance industry and the resources it offers to insurance professionals, including Best's Credit Ratings, please email or The insurance summit is a collaboration between The Insurance Institute for Asia and the Pacific (IIAP) and the Philippine Insurers and Reinsurers Association (PIRA). With the theme "Shaping the Future of Insurance: A Collaborative Path to Sustainability," the daylong event will explore emerging trends, challenges and opportunities shaping the future of insurance. To view more details, please visit the event overview. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Cynthia Ang Senior Industry Research Analyst +65 6303 5026 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
13-05-2025
- Business
- Business Wire
AM Best to Participate at the 2025 Philippine Insurance Summit
SINGAPORE--(BUSINESS WIRE)-- AM Best 's Susan Tan, senior financial analyst, will speak at the Philippine Insurance Summit to be held 20 May 2025, in Makati City, Philippines. Tan is a Singapore-based analyst for AM Best and oversees a portfolio of rated insurers that operate in the Asia Pacific region. At the event, she will discuss AM Best's latest outlook on the Philippine non-life insurance segment. Additionally, Rob Curtis, managing director and chief executive officer, Asia Pacific, and Johnathan Wong, market development analyst, Asia Pacific, will be in attendance and available for meetings. To arrange a meeting with either Curtis or Wong to learn more about AM Best, its role in the insurance industry and the resources it offers to insurance professionals, including Best's Credit Ratings, please email or The insurance summit is a collaboration between The Insurance Institute for Asia and the Pacific (IIAP) and the Philippine Insurers and Reinsurers Association (PIRA). With the theme "Shaping the Future of Insurance: A Collaborative Path to Sustainability,' the daylong event will explore emerging trends, challenges and opportunities shaping the future of insurance. To view more details, please visit the event overview.
