Life Insurance & Pension in Peru
Summary
Life Insurance & Pension in Peru industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The Peruvian life insurance & pension market recorded gross written premiums of $2.9 billion in 2023, representing a compound annual growth rate (CAGR) of 8.5% between 2018 and 2023.
- The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $2 billion, equivalent to 70.1% of the market's overall value.
- The significant drop in GDP growth has created more uncertainty for consumers about their financial security. For instance, according to the Banco Central de Reserva del Peru (BCRP), the real GDP annual growth of Peru stood at negative 0.6% in 2023, as compared to 2.7% in 2022. This negative economic outlook has discouraged consumers from spending more on financial protection and retirement planning.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Peru
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Peru
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Peru life insurance & pension market with five year forecasts
- What was the size of the Peru life insurance & pension market by value in 2023?
- What will be the size of the Peru life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the Peru life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up Peru's life insurance & pension market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. Seguros del Pacifico SA
- 8.2. RIMAC Seguros y Reaseguros S.A.
- 8.3. Interseguro Compania de Seguros SA
- 8.4. Mapfre SA
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Peru life insurance & pension market value: $ billion, 2018-23
- Table 2: Peru life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: Peru life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: Peru life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: Peru life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: Peru life insurance & pension market share: % share, by value, 2023
- Table 7: Seguros del Pacifico SA: Key Facts
- Table 8: RIMAC Seguros y Reaseguros S.A.: Key Facts
- Table 9: RIMAC Seguros y Reaseguros S.A.: Annual Financial Ratios
- Table 10: RIMAC Seguros y Reaseguros S.A.: Key Employees
- Table 11: Interseguro Compania de Seguros SA: Key Facts
- Table 12: Interseguro Compania de Seguros SA: Annual Financial Ratios
- Table 13: Interseguro Compania de Seguros SA: Key Employees
- Table 14: Mapfre SA: Key Facts
- Table 15: Mapfre SA: Annual Financial Ratios
- Table 16: Mapfre SA: Key Employees
- Table 17: Mapfre SA: Key Employees Continued
- Table 18: Peru Size of Population (million), 2019-23
- Table 19: Peru Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 20: Peru GDP (Current Prices, $ Billion), 2019-23
- Table 21: Peru Inflation, 2019-23
- Table 22: Peru Consumer Price Index (Absolute), 2019-23
- Table 23: Peru Exchange Rate, 2018-23
- List of Figures
- Figure 1: Peru life insurance & pension market value: $ billion, 2018-23
- Figure 2: Peru life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: Peru life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: Peru life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in Peru, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in Peru, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in Peru, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Peru, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Peru, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Peru, 2023
- Figure 11: Peru life insurance & pension market share: % share, by value, 2023
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