Despite the global financial crisis in 2008, Peru’s insurance sector has been steadily expanding over the past five years, averaging 15% annual growth in premiums. While life insurance sales fell by 4.3% globally in 2009, as of December that year life insurance premiums in Peru were up 9.73% year-on-year (y-o-y), placing the country fourth on Swiss...
Water problems made the headlines in Peru in early 2012 when local protests halted progress on a major mining project in the northern city of Cajamarca. More than 2000 locals gathered to voice their concern that the new mine, owned primarily by the US-based Newmont Mining, would pollute the water supply and negatively affect a local aquifer. While...
While petroleum is narrowly viewed as a source of energy, its benefits in terms of enhancing the productivity of the manufacturing sector as a whole have yet to be thoroughly explored in Peru. The country is now on the verge of developing what could be a petrochemicals industry of vital importance and has an array of projects lined up for the coming...
The exploitation of copper and gold resources has been a key element in Peru’s mineral and indeed broader economic development over the past decade. Together, copper and gold accounted for 76% of all mineral exports in 2011, bringing in revenues of $10.7bn and $10.1bn, respectively, according to the Ministry of Energy and Mines (Ministerio de...
In February 2012, Alfredo Jochamowitz, the president of the Peruvian Association of Insurance Companies (APESEG), estimated that the insurance penetration rate in the country was about 1.6%, measured as the percentage of premiums to GDP. This figure lags behind regional leaders like Chile (4.5%) and the total average for Latin America (2.5%)....
The rationale behind recent legislation to promote investment in green electricity-generating facilities lies not just with its eco-friendly nature, but also in the ability of these resources to operate independently of the national power grid in remote towns and villages in the mountains and jungles. Indeed, roughly 33% of the rural electrification...
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