As of September 2025, Peru’s insurance market continues to show a well-defined competitive structure and a stable growth path, reflecting both the diversification of product lines and a high degree of market concentration. The total volume of net written premiums reached PEN 17,443 million, including all business segments such as life, non-life, and mandatory insurance.
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Within the market composition, life insurance remains the dominant segment, accounting for 47% of total premiums with PEN 8,149 million, driven by sustained demand for savings and protection products. The general insurance segment follows with PEN 5,248 million, representing 30% of the total, supported mainly by motor, property, and corporate insurance lines. The accidents and health segment contributed PEN 1,948 million, or 11%, reflecting consistent growth in medical expense and personal accident policies. Meanwhile, pension-related insurance totaled PEN 2,098 million, representing 12% of the total market.
From a reinsurance perspective, the structure of risk transfer remains stable. Accepted reinsurance premiums amounted to PEN 148 million, or 1% of the total, while ceded premiums reached PEN 3,379 million, equivalent to 19%. As a result, retained premiums represented 81%, or PEN 14,212 million, indicating a solid capacity for risk absorption within the domestic market.
The market continues to be highly concentrated, with 17 insurance companies operating in the country. The top ten insurers collectively account for 95.8% of total net written premiums, underscoring limited room for smaller competitors and the dominance of large players with diversified portfolios.
Rímac Seguros leads the market with a 27.8% share, maintaining a strong presence across both life and non-life segments. Pacífico Seguros follows closely with 22.3%, reinforcing its position as a leading composite insurer. MAPFRE Perú ranks third with 13.4%, supported by its international backing and broad product base. Interseguro, focused mainly on life and pension products, holds 9.4% of the market, while La Positiva Vida and La Positiva Seguros collectively contribute 12.3% (6.5% and 5.8%, respectively), confirming the group’s strong local positioning.
The remaining share is distributed among Protecta (3.9%), Vivir Seguros (3.3%), Cardif (2.2%), and Crecer Seguros (1.3%), each maintaining a defined niche within the market.
Overall, Peru’s insurance industry exhibits strong concentration, balanced risk retention, and stable multi-line growth, with life insurance continuing to lead sector expansion. The structure highlights a competitive yet consolidated market, where strategic innovation and digital transformation will play a decisive role in defining future market share movements.