New Report Available: Non-Life Insurance in Peru, Key Trends and Opportunities to 2018

From: Fast Market Research, Inc.
Published: Thu Jan 29 2015

The non-life insurance segment accounted for a 43.8% share of the Peruvian insurance industry's gross written premium in 2013. The segment'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 government'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 individuals' 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%.

Report Highlights

* The non-life segment accounted for 43.8% of the insurance industry's gross written premium in 2013.
* Growth in construction activity and rising sales of motor vehicles contributed to the growth of non-life insurance during the review period.
* Peru's geographical location made it prone to various natural disasters such as earthquakes, floods, volcanic eruptions and landslides, causing the country large economical damage
* Property insurance was the largest segment, having accounted for 45.0% of the segment's gross written premium share in 2013.
* The new Insurance Contract Law enacted in 2012 provides clear protection for the insured by forbidding the use of abusive practices and clauses by insurance companies.
* According to a study conducted by Camara Peruana de la Construccion (Peruvian Construction Chamber), the residential sector created a sales record over 17 years, with 21,990 residential units sold in 2012.
* The growth in Peru's middle class population supported the growth of automobile sales. With the economic growth, the volume of car sales is expected to support non-life insurance growth.

Full Report Details at

Report Scope

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

* It provides historical values of the Peruvian non-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 Peru's non-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 non-life insurance products in Peru.
* It profiles the top non-life insurance companies in Peru and outlines the key regulations affecting them.

Reasons to Get this Report

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