Life Insurance in Peru, Key Trends and Opportunities to 2018

Life Insurance in Peru, Key Trends and Opportunities to 2018 is a new market research publication announced by Reportstack. Peruvian life insurance registered a compound annual growth rate (CAGR) of 19.5% during the review period (2009–2013). The segment’s growth was a result of strong economic growth and an improving business environment.

The pension and individual whole life categories accounted for 82.6% of the segment’s gross written premium in 2013, but life insurance penetration remained low at 0.8% in 2013. The five leading insurers accounted for 85.9% of the life insurance gross written premium in 2013. Over the forecast period (2013–2018), reforms in insurance contract law, expansion of the middle-class population and steady growth in microinsurance products are expected to drive the segment.

This report provides a comprehensive analysis of the life insurance segment in Peru:

• It provides historical values of the Peruvian life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

• It offers a detailed analysis of the key categories in the Peruvian life insurance segment, along with market forecasts until 2018.

• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.

• It analyses the various distribution channels for life insurance products in Peru.

• It profiles the top life insurance companies in Peru and outlines the key regulations affecting them.

Reasons to Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Peruvian life insurance segment and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Peruvian life insurance segment.

• Assess the competitive dynamics in the life insurance segment.

• Identify the growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Peruvian insurance industry and their impact on companies and the industry's future.

Key Highlights
• Life insurance is the largest segment in the Peruvian insurance industry, with 46.2% of the industry’s gross written premium in 2013.

• Pension insurance was the largest category, with 53.3% of the gross written premium and accounting for PEN2.3 billion (US$0.3 billion) in 2013, having recorded a review-period CAGR of 21.8%. 

• The introduction of a bidding process for pension insurance in 2013 is expected to reduce premiums and increases sales of pension funds over the forecast period.

• Economic growth, and rising employment levels and disposable incomes supported demand for life insurance during the review period.

• The increase in Peru’s working population expected to drive growth in the life segment over the forecast period.

Companies Mentioned

El Pacífico Vida Rímac Seguros Sura Interseguro La Positiva Vida Mapfre Perú Vida Protecta Cardif Ace Rigel
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