Non-Life Insurance in Peru
Summary
Non-Life Insurance 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
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The Peruvian non-life insurance market recorded written premiums of $2.6 billion in 2023, representing a compound annual growth rate (CAGR) of 5.3% between 2018 and 2023.
- The property segment accounted for the market's largest proportion in 2023, with total written premiums of $1.0 billion, equivalent to 38.5% of the market's overall value.
- The Peruvian non-life insurance market is experiencing significant growth, driven by rising awareness of the importance of insurance in safeguarding assets and mitigating financial risks. Additionally, natural catastrophes, such as floods and wildfires, continue to occur with significant impact, driving the demand for non-life insurance as they cause substantial damages and affect numerous individuals, highlighting the critical role of insurance in providing financial protection and supporting recovery efforts. According to the EM-DAT (Emergency Events Database) by the Centre for Research on the Epidemiology of Disasters (CRED), natural catastrophes in Peru affected 695,794 people and resulted in total damages of $990.0 million in 2023.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Peru
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Peru
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Peru non-life insurance market with five year forecasts
- What was the size of the Peru non-life insurance market by value in 2023?
- What will be the size of the Peru non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Peru non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Peru's non-life insurance 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 strengths and strategies of the leading players?
- 7.4. What are the challenges in the market?
- 8 Company Profiles
- 8.1. RIMAC Seguros y Reaseguros S.A.
- 8.2. Pacifico Compania de Seguros y Reaseguros SA
- 8.3. La Positiva Seguros y Reaseguros S.A.A.
- 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 non-life insurance market value: $ billion, 2018-23
- Table 2: Peru non-life insurance market category segmentation: % share, by value, 2018-23
- Table 3: Peru non-life insurance market category segmentation: $ billion, 2018-23
- Table 4: Peru non-life insurance market geography segmentation: $ billion, 2023
- Table 5: Peru non-life insurance market value forecast: $ billion, 2023-28
- Table 6: Peru non-life insurance market share: % share, by value, 2023
- Table 7: RIMAC Seguros y Reaseguros S.A.: Key Facts
- Table 8: RIMAC Seguros y Reaseguros S.A.: Annual Financial Ratios
- Table 9: RIMAC Seguros y Reaseguros S.A.: Key Employees
- Table 10: Pacifico Compania de Seguros y Reaseguros SA: Key Facts
- Table 11: Pacifico Compania de Seguros y Reaseguros SA: Annual Financial Ratios
- Table 12: La Positiva Seguros y Reaseguros S.A.A.: Key Facts
- Table 13: La Positiva Seguros y Reaseguros S.A.A.: Annual Financial Ratios
- Table 14: La Positiva Seguros y Reaseguros S.A.A.: Key Employees
- Table 15: Mapfre SA: Key Facts
- Table 16: Mapfre SA: Annual Financial Ratios
- Table 17: Mapfre SA: Key Employees
- Table 18: Mapfre SA: Key Employees Continued
- Table 19: Peru Size of Population (million), 2019-23
- Table 20: Peru Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 21: Peru GDP (Current Prices, $ Billion), 2019-23
- Table 22: Peru Inflation, 2019-23
- Table 23: Peru Consumer Price Index (Absolute), 2019-23
- Table 24: Peru Exchange Rate, 2018-23
- List of Figures
- Figure 1: Peru non-life insurance market value: $ billion, 2018-23
- Figure 2: Peru non-life insurance market category segmentation: $ billion, 2018-23
- Figure 3: Peru non-life insurance market geography segmentation: % share, by value, 2023
- Figure 4: Peru non-life insurance market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the non-life insurance market in Peru, 2023
- Figure 6: Drivers of buyer power in the non-life insurance market in Peru, 2023
- Figure 7: Drivers of supplier power in the non-life insurance market in Peru, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Peru, 2023
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Peru, 2023
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Peru, 2023
- Figure 11: Peru non-life insurance market share: % share, by value, 2023
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