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Market Report, "Life Insurance in Peru, Key Trends and Opportunities to 2017", Published

Fast Market Research recommends "Life Insurance in Peru, Key Trends and Opportunities to 2017" from Timetric, now available

 
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Boston, MA -- (SBWIRE) -- 12/24/2013 -- In terms of gross written premium, the life insurance segment was the largest in the Peru insurance industry during the review period and accounted for 46.5% of the total insurance industry's written premiums in 2012. Peruvian consumers typically prefer simple, savings-oriented life insurance products with protection options. Pension and individual life products were the leading life insurance product categories during the review period. The segment's written premium grew at a CAGR of 19.0% during the review period. The economic growth, an increase in employment levels, and an increase in disposable income had a positive effect on demand for life insurance products. The segment is highly concentrated, with the top five life insurers accounting for 86.9% of the total gross written premium in 2012.

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Key Highlights

- In terms of gross written premium, the life insurance segment was the largest in the Peru insurance industry during the review period
- The life insurance segment recorded notable growth by increasing at a CAGR of 19.0% during the review period
- The segment's growth was driven by an increase in employment levels and a rise in disposable income
- The Peruvian government has encouraged the middle- and lower-income population to buy life cover by promoting microinsurance products
- Direct marketing is the one of the popular and dominant distribution channels for life products in Peru, and accounted for 57.3% of new business written premium in 2012
- The segment is highly concentrated, with the top five life insurers accounting for 86.9% of the total gross written premium in 2012

Scope

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

- It provides historical values for the Peruvian life insurance segment for the report's 2008-2012 review period and forecast figures for the 2013-2017 forecast period
- It offers a detailed analysis of the key sub-segments in the Peruvian life insurance segment, along with market forecasts until 2017
- 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 life insurance products in Peru
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Peru for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Peru and its growth prospects
- It profiles the top life insurance companies in Peru and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast market data related to the Peruvian life insurance segment and each category within it

Companies Mentioned in this Report: El Pacifico Vida, Rimac Seguros, Seguros Sura, La Positiva Vida, Interseguro, Mapfre Peru Vida, Protecta SA Cia de Seguros, Ace Seguros SA, Cardif del Peru SA

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