Net written premiums market share growth ranking
The Peruvian insurance market has experienced notable growth in the fourth quarter of 2023, with net premiums totaling NS$ 20.265 billion, marking an 8% nominal annual increase. This growth has been uneven across different business types, with Accident and Health coverages growing by 3% annually, while the average Non-Life branches advanced by 10%. Conversely, pensions and annuities saw a 6% decline, but the overall Life and Personal branches surged by an impressive 15.6%.
In terms of market share growth, Rimac Seguros y Reaseguros, AVLA Perú, InSur Perú, Liberty Mutual Insurance, and Quálitas Compañía de Seguros Perú emerged as leaders. Specifically, in the Accident and Health segment, La Positiva Seguros, Protecta Insurance Company, and Crecer Seguros - compañía de seguros led the growth. For Life and Pensions, Mapfre Peru, Rimac Seguros y Reaseguros, and Pacífico Seguros were at the forefront. Lastly, in the Non-Life category, Rimac Seguros y Reaseguros, AVLA Perú, and InSur Perú showed significant market share increases.
