Life Insurance Sector Dominate Peru Insurance Industry: Ken Research
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
For more coverage click on the link below:
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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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