Life Insurance in Peru, Key Trends and Opportunities to 2018

Date: 2015-09

“Peruvian life insurance registered a compound annual growth rate (CAGR) of 19.5% during the review period (2009โ€“2013). The segmentโ€™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 segmentโ€™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 (2013โ€“2018), reforms in insurance contract law, expansion of the middle-class population and steady growth in microinsurance products are expected to drive the segment.”

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