The 2024 RankingsLatAm market research provides an in-depth analysis of the insurance sales channels in Peru, highlighting performance data from more than 1500 insurance agents and brokers between 2011 and 2023. This report also focuses on the comparative performance of brokers and insurance agents in the years 2023 and 2022, alongside market share growth and financial outcomes of leading brokers.
In 2023, brokers in Peru demonstrated a notable performance across several financial metrics. The total assets of brokers increased from 790 million Soles in 2022 to 841 million soles in 2023, reflecting a 6% growth. Capital investments saw an even more significant rise, with an 11% increase from 531 million Soles in 2022 to 592 million Soles in 2023. Labor costs for brokers also grew by 8%, from 375 million Soles in 2022 to 406 million Soles in 2023.
In 2023, brokers in Peru demonstrated a notable performance across several financial metrics. The total assets of brokers increased from 790 million Soles in 2022 to 841 million soles in 2023, reflecting a 6% growth. Capital investments saw an even more significant rise, with an 11% increase from 531 million Soles in 2022 to 592 million Soles in 2023. Labor costs for brokers also grew by 8%, from 375 million Soles in 2022 to 406 million Soles in 2023.
On the other hand, the overall billing for brokers reached 980 million soles in 2023, marking a 10% increase from the previous year's 894 million soles. Despite these increased expenses and investments, brokers successfully managed to reduce their liabilities, with total liabilities dropping by 4% from 259 million soles in 2022 to 249 million soles in 2023. This financial prudence contributed to a substantial 27% growth in net results, with brokers (+300 companies analyzed) achieving a net result of 135 million Soles in 2023 compared to 107 million Soles in the previous year.
Insurance agents (+750 agents) also recorded positive financial performance, with total billing increasing by 5% from 104 million soles in 2022 to 109 million soles in 2023. Although the growth rate for agents was slightly lower than that of brokers, the positive trajectory reflects a steady contribution to the insurance market.
Among brokers, Arthur J. Gallagher Peru Corredores led the market share growth ranking by gaining 1.2 percentage points, followed by Marsh Peru, which increased its market share by 0.9 percentage points. Sifuentes Olaechea Corredores and Consejeros y Corredores achieved market share gains of 0.5% and 0.4%, respectively, while Lockton Peru grew by 0.3%.
In terms of market share volume by billing, Marsh Peru maintained a dominant position with a 26.4% market share. It was followed by Howden Peru Corredores, Arthur J. Gallagher Peru, Corredores de Seguros Falabella and Consejeros y Corredores de Seguros. Collectively, these five brokers account for 47.2% of the total billing volume across more than 300 brokers in Peru.
Regarding net financial outcomes, Marsh Peru stood out as the top performer with a net result of 45.5 million soles. Corredores de Seguros Falabella followed with 14.6 million soles, and Howden Peru Corredores with 10.2 million soles. Consejeros y Corredores and Arthur J. Gallagher Peru also reported notable net results of 7.2 million and 6.1 million soles, respectively.
These data underscore the robust growth and financial health of the insurance brokerage sector in Peru, highlighting key players' contributions to the market's dynamic landscape in the last decade.
Insurance agents (+750 agents) also recorded positive financial performance, with total billing increasing by 5% from 104 million soles in 2022 to 109 million soles in 2023. Although the growth rate for agents was slightly lower than that of brokers, the positive trajectory reflects a steady contribution to the insurance market.
Among brokers, Arthur J. Gallagher Peru Corredores led the market share growth ranking by gaining 1.2 percentage points, followed by Marsh Peru, which increased its market share by 0.9 percentage points. Sifuentes Olaechea Corredores and Consejeros y Corredores achieved market share gains of 0.5% and 0.4%, respectively, while Lockton Peru grew by 0.3%.
In terms of market share volume by billing, Marsh Peru maintained a dominant position with a 26.4% market share. It was followed by Howden Peru Corredores, Arthur J. Gallagher Peru, Corredores de Seguros Falabella and Consejeros y Corredores de Seguros. Collectively, these five brokers account for 47.2% of the total billing volume across more than 300 brokers in Peru.
Regarding net financial outcomes, Marsh Peru stood out as the top performer with a net result of 45.5 million soles. Corredores de Seguros Falabella followed with 14.6 million soles, and Howden Peru Corredores with 10.2 million soles. Consejeros y Corredores and Arthur J. Gallagher Peru also reported notable net results of 7.2 million and 6.1 million soles, respectively.
These data underscore the robust growth and financial health of the insurance brokerage sector in Peru, highlighting key players' contributions to the market's dynamic landscape in the last decade.
