The life insurance sector has achieved impressive growth in recent years. According to the Superintendencia de Banca, Seguros y Administradoras de Fondos de Pensiones (SBS), life premiums rose 17.8% in 2014 to PEN4.93bn ($1.6bn), well ahead of the premium growth rate across all insurance products, of 11.9%. Both rates were a multiple of GDP...
What will be the impact on consumers in terms of premiums and product quality as Peru’s insurance market becomes less concentrated?
The insurance sector in Peru has experienced a decade of strong growth, benefitting from the fact that the country has been one of the fastest-growing economies in Latin America and has seen both a significant reduction in poverty levels and an expansion of the middle class. In the 10 years to 2013, premium income tripled, and according to the...
How will the reduction of reserve ratios in soles affect the de-dollarisation of the economy?
Responsible for regulating financial flows and channelling savings and investment, banking is the single most important component of the wider financial, insurance and pensions sector, which accounts for 3.8% of Peru’s GDP. The financial sector – which includes banks, finance houses and credit cooperatives – accounts for more than 85% of that...
What are the main challenges to increasing liquidity and trading volumes on the exchange?
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