Non-Life Insurance in Peru, Key Trends and Opportunities to 2018

Date: 2015-09

The non-life insurance segment accounted for a 43.8% share of the Peruvian insurance industryโ€™s gross written premium in 2013. The segmentโ€™s gross written premium increased at a review-period CAGR of 11.4%. The growth of this segment was majorly due to an increase in property and vehicle sales and the governmentโ€™s investments on infrastructure. This led to an increase in the number of policies sold from 2.7 million in 2009 to 6.8 million in 2013, at a review-period CAGR of 26.0%. Furthermore, economic growth and individualsโ€™ purchasing power, a large distribution network and scope from low penetration rate is expected to support the growth of the non-life segment over the forecast period. The Peruvian non-life segment is expected to grow at a forecast-period CAGR of 10.2%.

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