Insurance providers weather Brexit, trade war uncertainties: AXA

ABS-CBN News

Posted at Nov 19 2018 10:42 AM

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MANILA -- Uncertainties over Brexit and the trade war between the US and China make the insurance business "challenging," said AXA Philippines CEO Raul Hora.

Still, premium income this year will likely come close to the P21.6 billion posted in 2017, with growth of 41 percent in the first 6 months of 2019, Hora told ANC's Market Edge.

"As the markets turn out to be more and more volatile I would expect insurance companies to go to more diversified products for their customers for their investment needs," Hora said.

Foreign investors still "prefer" the Philippines due to the strength of its economy and remittance flows, he said.