As of November 2025, the Peruvian insurance market shows a solid profitability profile supported by both underwriting performance and investment income, according to the report Insurance Companies in Latin America – Rankings & Benchmarks. The study covers the financial statements of 17 relevant insurance companies operating in Peru, within a broader recurring analysis of insurers across 18 Latin American countries, presenting net results in both local currency and US dollars.
Out of the 17 insurers analyzed, 16 reported positive net results during the period, representing 94% of the companies covered. This high proportion of profitable entities reflects a broadly favorable operating environment and disciplined risk management across most market participants.
The sector recorded a total net result of USD 710 million. In local currency terms, this corresponds to a net profit of PEN 2,350 million, underscoring the scale of value generation achieved by the Peruvian insurance industry by the close of November 2025.
In terms of individual performance, Pacífico Seguros led the profitability ranking with a net result of USD 174.3 million. It was followed by Interseguro, which posted USD 125.2 million, and Rímac, with USD 118.5 million. La Positiva Vida achieved USD 75.3 million, while Mapfre Perú reported USD 56.8 million. La Positiva generated USD 50.8 million, Vivir Seguros reached USD 35.3 million, and BNP Paribas Cardif recorded USD 16.8 million. Cesce Perú posted USD 14.6 million, Protecta USD 11.8 million, and Insur USD 9.8 million, completing the group of insurers with the highest net results in the period analyzed.
As a performance reference, the net income benchmark for the Peruvian insurance market stood at USD 39.4 million per company as of November 2025. This benchmark highlights the degree of profitability concentration within the sector, where a limited group of leading insurers significantly outperformed the market average, while the majority of players still managed to remain above break-even levels.
From a balance sheet perspective, total sector assets amounted to PEN 88,273 million, while liabilities reached PEN 74,722 million. Equity stood at PEN 13,651 million, providing a solid capital base to support underwriting activity and investment operations.
Net written insurance premiums reached PEN 21,753 million, complemented by net accepted reinsurance premiums of PEN 164 million. After accounting for the adjustment of technical reserves related to insurance and accepted reinsurance premiums, amounting to minus PEN 4,436 million, total net premiums for the year stood at PEN 17,481 million. On the reinsurance side, net ceded premiums totaled minus PEN 4,181 million, with an additional adjustment of technical reserves of minus PEN 219 million, resulting in total net ceded premiums of minus PEN 4,400 million.
After these adjustments, net earned premiums amounted to PEN 13,082 million. Net incurred claims reached minus PEN 6,917 million, which led to a gross technical result of PEN 6,153 million. Net commissions and other retributions reduced this figure by PEN 3,559 million, while other net income and expenses further subtracted PEN 1,582 million. As a result, the technical result closed at PEN 1,012 million.
Investment performance played a decisive role in overall profitability. The result from investments reached PEN 3,930 million, significantly reinforcing operating income. After considering net administration expenses of minus PEN 2,371 million, the operating result totaled PEN 2,571 million. This same figure represents the result before income tax, as no additional adjustments were reported at this level.
Income tax amounted to minus PEN 221 million, leading to a final net profit for the sector of PEN 2,350 million, fully consistent with the net result reported in local currency terms.
Overall, the Peruvian insurance market at the close of November 2025 demonstrates a combination of high profitability penetration among competitors, solid premium generation, controlled claims, and strong investment returns. The competitive landscape remains concentrated among a group of leading insurers, while the sector as a whole continues to show financial resilience and sustainable earnings capacity within the regional context of Latin American insurance markets.