Life Insurance in Peru, Key Trends and Opportunities to 2019

Date: 2015-12

“• Life insurance is the largest segment in the Peruvian insurance industry, accounting for 48.0% of the industry’s gross written premium in 2014.

• The pension and individual whole life categories accounted for 84.1% of the life gross written premium in 2014.

• Peruvian law requires employers to pay life insurance premiums for employees who have worked with the same employer for more than four years.

• Pension funds form the largest category in the Peruvian life segment, which is expected to drive growth in pension insurance over the forecast period.

• As a result, the life gross written premium is expected to record a forecast-period CAGR of 17.6% to reach PEN11.2 billion (US$3.5 billion) in 2019.”

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