Articles & Analysis | Room to grow: Greater distribution and new products spur expansion from The Report: Peru 2012
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...
Articles & Analysis | Promoting benefits: Efforts are currently under way to increase penetration from The Report: Peru 2012
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%)....