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Synopsis
Timetric’s 'Non-Life Insurance in Peru, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Peruvian non-life insurance segment, and a comparison of the Peruvian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Peruvian economy and demographics, explains the various types of natural hazard and their impact on the Peruvian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Peru, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Peruvian non-life insurance segment, including:

- The Peruvian non-life insurance segment’s detailed outlook by product category

- A comprehensive overview of the Peruvian economy and demographics

- A comparison of the Peruvian insurance industry with its regional counterparts

- Detailed analysis of natural hazards and their impact on the Peruvian insurance industry

- Details of the competitive landscape in the life insurance segment in Peru

- Details of regulatory policy applicable to the Peruvian insurance industry

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

- It provides historical values for the Peruvian non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Peruvian non-life insurance segment, and market forecasts to 2019.

- It profiles the top non-life insurance companies in Peru, and outlines the key regulations affecting them.

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

- Understand the demand-side dynamics, key market trends and growth opportunities in the Peruvian non-life insurance segment.

- Assess the competitive dynamics in the non-life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Peruvian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- Peru’s non-life insurance segment posted a review-period CAGR of 11.1%.

- The segment’s growth was primarily driven by the property and motor insurance categories.

- In the motor category, vehicle crime rates and the compulsory nature of motor third-party liability supported premium growth.

- The growth of construction activities under public private partnerships (PPPs) and a strong demand for agricultural insurance products fuelled growth in the property category.

- As Peru prepares for the 2019 Pan American Games in Lima, the high risk potential of cyber attacks creates attractive business opportunities for insurers.

Table Of Contents

Non-Life Insurance in Peru, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies and brokers
6.1.2 Direct marketing
6.1.3 Alternative distribution channels and e-commerce
6.1.4 Bancassurance
7 Natural Hazards
7.1 Earthquakes
7.2 Drought and Extreme Temperatures
7.3 Floods, Landslides and Avalanches
7.4 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in Peruvian Non-life Segment
8.2.1 Rimac Seguros y Reaseguros - company overview
8.2.2 El Pacífico Peruano Suiza Compañía de Seguros y Reaseguros - company overview
8.2.3 Mapfre Peru Compania de Seguros y Reaseguros SA - company overview
8.2.4 La Positiva Seguros y Reaseguros - company overview
8.2.5 Ace Seguros SA - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Third-party liability insurance for vehicles carrying dangerous goods
9.4.2 Motor third-party liability insurance
9.4.3 Insurance for risky work
9.4.4 Group life insurance for all employees with more than four years service
9.4.5 Aviation liability
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Superintendent of Bank and Insurance (SBS)
9.5.3 Peruvian Association of Insurance (LA Asociación Peruana de Empresas de Seguros - Apeseg)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a domestic company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Peruvian Non-Life Insurance - Key Facts, 2014
Table 2: Peruvian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Peruvian Government Credit Ratings
Table 4: Peruvian Non-Life Insurance - Gross Written Premium (PEN Billion and US$ Billion), 2010-2014
Table 5: Peruvian Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Peruvian Non-Life Insurance - Gross Written Premium (PEN Billion and US$ Billion), 2014-2019
Table 7: Peruvian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Peruvian Non-Life Insurance - Premium per Capita (PEN and US$), 2010-2014
Table 9: Peruvian Non-Life Insurance - Premium per Capita (PEN and US$), 2014-2019
Table 10: Peruvian Non-Life Insurance - Number of Policies Sold (Million), 2010-2014
Table 11: Peruvian Non-Life Insurance - Number of Policies Sold (Million), 2014-2019
Table 12: Peruvian Non-Life Insurance - Paid Claims (PEN Billion and US$ Million), 2010-2014
Table 13: Peruvian Non-Life Insurance - Paid Claims (PEN Billion and US$ Million), 2014-2019
Table 14: Peruvian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 15: Peruvian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 16: Peruvian Non-Life Insurance - Total Assets (PEN Billion and US$ Billion), 2010-2014
Table 17: Peruvian Non-Life Insurance - Total Assets (PEN Billion and US$ Billion), 2014-2019
Table 18: Peruvian Non-Life Insurance - Total Investment Income (PEN Million and US$ Million), 2010-2014
Table 19: Peruvian Non-Life Insurance - Total Investment Income (PEN Million and US$ Million), 2014-2019
Table 20: Peruvian Non-Life Insurance - Investment Portfolio (PEN Billion), 2010-2014
Table 21: Peruvian Non-Life Insurance - Investment Portfolio (PEN Billion), 2014-2019
Table 22: Peruvian Non-Life Insurance - Gross Written Premium by Category (PEN Million), 2010-2014
Table 23: Peruvian Non-Life Insurance - Gross Written Premium by Category (PEN Million), 2014-2019
Table 24: Peruvian Property Insurance - Gross Written Premium by Sub-Category (PEN Million), 2010-2014
Table 25: Peruvian Property Insurance - Gross Written Premium by Sub-Category (PEN Million), 2014-2019
Table 26: Peruvian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 27: Peruvian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 28: Peruvian Property Insurance - Paid Claims (PEN Billion and US$ Billion), 2010-2014
Table 29: Peruvian Property Insurance - Paid Claims (PEN Billion and US$ Billion), 2014-2019
Table 30: Peruvian Property Insurance - Loss Ratio (%), 2010-2014
Table 31: Peruvian Property Insurance - Loss Ratio (%), 2014-2019
Table 32: Peruvian Motor Insurance - Gross Written Premium by Sub-Category (PEN Billion), 2010-2014
Table 33: Peruvian Motor Insurance - Gross Written Premium by Sub-Category (PEN Billion), 2014-2019
Table 34: Peruvian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 35: Peruvian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 36: Peruvian Motor Insurance - Paid Claims (PEN Billion and US$ Million), 2010-2014
Table 37: Peruvian Motor Insurance - Paid Claims (PEN Billion and US$ Million), 2014-2019
Table 38: Peruvian Motor Insurance - Loss Ratio (%), 2010-2014
Table 39: Peruvian Motor Insurance - Loss Ratio (%), 2014-2019
Table 40: Peruvian Liability Insurance - Gross Written Premium (PEN Million), 2010-2014
Table 41: Peruvian Liability Insurance - Gross Written Premium (PEN Million), 2014-2019
Table 42: Peruvian Liability Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 43: Peruvian Liability Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 44: Peruvian Liability Insurance - Paid Claims (PEN Million and US$ Million), 2010-2014
Table 45: Peruvian Liability Insurance - Paid Claims (PEN Million and US$ Million), 2014-2019
Table 46: Peruvian Liability Insurance - Loss Ratio (%), 2010-2014
Table 47: Peruvian Liability Insurance - Loss Ratio (%), 2014-2019
Table 48: Peruvian Marine, Aviation and Transit Insurance - Gross Written Premium (PEN Million), 2010-2014
Table 49: Peruvian Marine, Aviation and Transit Insurance - Gross Written Premium (PEN Million), 2014-2019
Table 50: Peruvian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 51: Peruvian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 52: Peruvian Marine, Aviation and Transit Insurance - Paid Claims (PEN Million and US$ Million), 2010-2014
Table 53: Peruvian Marine, Aviation and Transit Insurance - Paid Claims (PEN Million and US$ Million), 2014-2019
Table 54: Peruvian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 55: Peruvian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 56: Peruvian Non-Life Insurance - Segment Shares (%), 2014
Table 57: Rímac Seguros y Reaseguros - Key Facts
Table 58: Rímac Seguros y Reaseguros - Key Financials (PEN Million), 2010-2014
Table 59: El Pacífico Peruano Suiza Compañía de Seguros y Reaseguros - Key Facts
Table 60: El Pacífico Peruano Suiza Compañía de Seguros y Reaseguros - Key Financials (PEN Million), 2010-2014
Table 61: Mapfre Peru Compania de Seguros y Reaseguros SA - Key Facts
Table 62: Mapfre Peru Compania de Seguros y Reaseguros SA - Key Financials (PEN Million), 2010-2014
Table 63: La Positiva Seguros y Reaseguros - Key Facts
Table 64: La Positiva Seguros y Reaseguros - Key Financials (PEN Million), 2010-2014
Table 65: Ace Seguros SA - Key Facts
Table 66: Ace Seguros SA - Key Financials (PEN Million), 2010-2014
Table 67: Peru - Insurance Regulatory Framework Key Features
Table 68: Peru - Life Insurance Regulatory Framework
Table 69: Peru - Property Insurance Regulatory Framework
Table 70: Peru - Motor Insurance Regulatory Framework
Table 71: Peru - Liability Insurance Regulatory Framework
Table 72: Peru - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 73: Peru - Corporate Tax Rates for the Financial Year 2015
Table 74: Peruvian Insurance Industry - Policies and Premium, 2010-2014
Table 75: Peruvian Insurance Industry - Policies and Premium, 2014-2019
Table 76: Peruvian Non-Life Insurance - Policies and Premium, 2010-2014
Table 77: Peruvian Non-Life Insurance - Policies and Premium, 2014-2019
Table 78: Peruvian Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 79: Peruvian Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 80: Peruvian Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 81: Peruvian Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 82: Peruvian Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 83: Peruvian Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 84: Peruvian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 85: Peruvian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 86: Peruvian Non-Life Insurance - Gross Written Premium by Sub-Category (PEN Million), 2010-2014
Table 87: Peruvian Non-Life Insurance - Gross Written Premium by Sub-Category (PEN Million), 2014-2019
Table 88: Peruvian Non-Life Insurance - Direct Written Premium by Sub-Category (PEN Million), 2010-2014
Table 89: Peruvian Non-Life Insurance - Direct Written Premium by Sub-Category (PEN Million), 2014-2019
Table 90: Peruvian Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 91: Peruvian Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 92: Peruvian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2010-2014
Table 93: Peruvian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2014-2019
Table 94: Insurance Industry Definitions

List of Figures
Figure 1: Peruvian Real GDP (PEN Billion), 2010-2019
Figure 2: PEN-US$ Exchange Rate, 2010-2019
Figure 3: Peruvian Consumer Price Inflation, 2010-2019
Figure 4: Peruvian Current Account Balance as Percentage of GDP (%), 2010-2019
Figure 5: Peruvian Unemployment Rate, 2010-2019
Figure 6: Peruvian Population by Age Group, 1990-2025
Figure 7: Peruvian Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Peruvian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Peruvian Non-Life Insurance - Gross Written Premium (PEN Billion), 2010-2019
Figure 10: Peruvian Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Peruvian Non-Life Insurance - Premium per Capita (PEN), 2010-2019
Figure 12: Peruvian Non-Life Insurance - Number of Policies Sold (Million), 2010-2019
Figure 13: Peruvian Non-Life Insurance - Paid Claims (PEN Million), 2010-2019
Figure 14: Peruvian Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 15: Peruvian Non-Life Insurance - Total Assets (PEN Billion), 2010-2019
Figure 16: Peruvian Non-Life Insurance - Total Investment Income (PEN Million), 2010-2019
Figure 17: Peruvian Non-Life Insurance - Investment Portfolio (PEN Billion), 2010-2019
Figure 18: Peruvian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 19: Peruvian Non-Life Insurance - Gross Written Premium by Category (PEN Billion and US$ Billion), 2010-2019
Figure 20: Peruvian Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 21: Peruvian Export - Import of Goods (EUR Billion), 2010-2014
Figure 22: Peruvian Property Insurance - Construction Value Output by Category (PEN Billion), 2010-2014
Figure 23: Peruvian Property Insurance - Gross Written Premium by Sub-Category (PEN Billion), 2010-2019
Figure 24: Peruvian Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 25: Peruvian Property Insurance - Number of Policies Sold by Sub-Category (Million), 2010-2019
Figure 26: Peruvian Property Insurance - Paid Claims (PEN Billion), 2010-2019
Figure 27: Peruvian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (PEN Billion and %), 2010-2019
Figure 28: Peruvian Motor Insurance - Gross Written Premium by Sub-Category (PEN Billion), 2010-2019
Figure 29: Peruvian Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 30: Peruvian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2010-2019
Figure 31: Peruvian Motor Insurance - Paid Claims (PEN Million), 2010-2019
Figure 32: Peruvian Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (PEN Billion and %), 2010-2019
Figure 33: Peruvian Liability Insurance - Gross Written Premium (PEN Million), 2010-2019
Figure 34: Peruvian Liability Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 35: Peruvian Liability Insurance - Paid Claims (PEN Million), 2010-2019
Figure 36: Peruvian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (PEN Million and %), 2010-2019
Figure 37: Peru - Total Imports and Exports Product Dynamics (Percentage of Total), 2014
Figure 38: Peruvian Marine, Aviation and Transit Insurance - Gross Written Premium (PEN Million), 2010-2019
Figure 39: Peruvian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 40: Peruvian Marine, Aviation and Transit Insurance - Paid Claims (PEN Million), 2010-2019
Figure 41: Peruvian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (PEN Million and %), 2010-2019
Figure 42: Peru - Frequency of Natural Disasters by Type, 1990-2014
Figure 43: Peru - Total Deaths and Damages by Types of Natural Disasters, 1990-2014
Figure 44: Peruvian Non-Life Insurance - Segment Shares (%), 2014
Figure 45: Peru - Insurance Supervision and Control at Various Levels
Figure 46: Peru - Insurance Regulatory Frameworks for Company Registration and Operation

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