In the Philippines, insurance brokers generated 75.38 billion PHP (1.48 billion USD) in premiums in 2019, an increase of 11.08% compared to 2018.
Health insurance accounts for 29.6% of total premiums, that is 22.38 billion PHP (440.49 million USD). The fire and life activities come next as they respectively recorded a turnover of 17.7 billion PHP (348.37 million USD) and 11.53 billion PHP (226.94 million USD).
With a turnover of 10.96 billion PHP (215.72 million USD), the intermediate ranking makes Aon Insurance and Reinsurance Brokers Philippines the market’s biggest brokerage company.
In 2019, Filipino brokers contributed by up to 25% of total insurance premiums compared to 23.4% in 2018.
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