Life insurance premium volume to GDP (%) in Philippines
Philippines: Life insurance premium volume to GDP (%) was 1.4% in 2020. ▲ Rising
Life insurance premium volume to GDP in Philippines, 1990–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
The most recent figure for life insurance premium volume to gdp in Philippines is 1.4%, measured in 2020.
The figure is up 15.3% on the previous year and up 83.6% over ten years.
Over the whole period, life insurance premium volume to gdp in Philippines peaked at 1.4% in 2013 and was at its lowest, 0.4%, in 1990.
Philippines ranks 54th of 162 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Life insurance premium volume to GDP (%) in Philippines, year by year
| Year | % | Change |
|---|---|---|
| 1990 | 0.4% | — |
| 1991 | 0.4% | +2.3% |
| 1992 | 0.5% | +10.8% |
| 1993 | 0.5% | +10.2% |
| 1994 | 0.5% | +3.6% |
| 1995 | 0.6% | +6.3% |
| 1996 | 0.6% | +2.4% |
| 1997 | 0.6% | +5.3% |
| 1998 | 0.6% | +1.0% |
| 1999 | 0.6% | +5.1% |
| 2000 | 0.7% | +9.0% |
| 2001 | 0.7% | +2.6% |
| 2002 | 0.8% | +11.4% |
| 2003 | 0.8% | +2.2% |
| 2004 | 0.8% | -3.1% |
| 2005 | 0.8% | -4.6% |
| 2006 | 0.8% | +10.8% |
| 2007 | 1.0% | +21.8% |
| 2008 | 0.7% | -31.4% |
| 2009 | 0.7% | -3.5% |
| 2010 | 0.8% | +10.3% |
| 2011 | 0.8% | +8.3% |
| 2012 | 1.1% | +29.1% |
| 2013 | 1.4% | +31.4% |
| 2014 | 1.2% | -15.8% |
| 2015 | 1.3% | +13.2% |
| 2016 | 1.2% | -11.3% |
| 2017 | 1.2% | +1.0% |
| 2018 | 1.3% | +6.1% |
| 2019 | 1.2% | -4.2% |
| 2020 | 1.4% | +15.3% |
Philippines compared with similar countries
- Philippines's 1.4% is above the median for upper middle income countries, which is 0.5%, 2.9× the median. (46 countries reporting)
- Philippines's 1.4% is below the median for East Asia & Pacific, which is 1.4%, 99% of the median. (20 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.5% | 0.4% | 0.6% | 10 |
| 2000s | 0.8% | 0.7% | 1.0% | 10 |
| 2010s | 1.1% | 0.8% | 1.4% | 10 |
| 2020s | 1.4% | 1.4% | 1.4% | 1 |
Countries ranked near Philippines
More financial sector data for Philippines
- Reserve position in the IMF, US dollar, annual growth rate 7.66 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 6.23 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 2.52 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 4.55 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 7.66 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 6.23 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 2.52 % change on previous year (2025)
Frequently asked questions
- What is life insurance premium volume to gdp in Philippines?
- Life insurance premium volume to gdp in Philippines was 1.4% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in Philippines?
- The highest recorded value was 1.4% in 2013.
- What is the lowest life insurance premium volume to gdp recorded in Philippines?
- The lowest recorded value was 0.4% in 1990.
- How does Philippines rank for life insurance premium volume to gdp?
- Philippines ranks 54th out of 162 countries with data for 2020.
- Is life insurance premium volume to gdp rising or falling in Philippines?
- Over the last ten years it is up 83.6%. The long-run trend across the full record is rising.
- Where does this Philippines data come from?
- The figures come from Sigma Reports, Swiss Re, published as part of Life insurance premium volume to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Premium data is taken from various issues of Sigma reports (Swiss Re). Data on GDP in US dollars is from the electronic version of the World Development Indicators.