Ken Research has announced publication titled, “Life Insurance in Peru, Key Trends and Opportunities to 2020” which provides in-depth market analysis, information and insights into the Peruvian life insurance segment and a detailed outlook by product category for the Peruvian life insurance segment, and a comparison of the Peruvian insurance industry with its regional counterparts.
This report provides a comprehensive analysis of the life insurance segment in Peru and well assesses the competitive dynamics in the life insurance segment identifying the growth opportunities and market dynamics especially in key product range.
It details the key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period and forecast period that offer a significant analysis of the key categories in the Peruvian life insurance segment, and market forecasts to 2020. It helps in comprehending the demand-side dynamics, by profiling the top life insurance companies in Peru and outlining the key regulations affecting them, key market trends, and growth opportunities in the Peruvian life insurance segment.
The life insurance segment was the largest in Peru insurance industry. Peruvian consumers favored simple, savings-oriented life insurance products with more protection choices and as a result the pension and individual life products were leading life insurance product categories particularly during 2012.
Direct marketing was one of the superior distribution channels for life products in Peru. In August 2014, the SBS made a compulsion for all independent workers under the age of 40 to contribute to the private pension system for making the need of life insurance and related policies felt.
Life insurance became the largest segment in Peruvian insurance that accounted for 47.9% of the industry’s gross written premium and Insurance penetration in the life segment was 0.9% in 2015.
The Peruvian life segment was stabilized, with the 10 leading companies accounting for 99.0% of the segment’s direct written premium in 2015. The opportunities for year 2020 can be predicted well, although their accuracy at the real time cannot be predicted, but for sure opportunities are guaranteed since the insurance policy related regulations are changing and improving and this segment of insurance carries a significant proportion of the insurance sector.
Key Factors Considered in the Report
Global Life insurance industry
Non-life insurance industry
Peru life insurance market research
Life insurance sector trends Peru
Peru life insurance regulations
Life insurance companies Peru
Peru Insurance Gross Written premium
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Ankur Gupta, Head Marketing & Communications