...Continued Premium Growth: The Peruvian insurance industry showed a sustained level of growth, decoupled from the sluggish economic growth. The annual nominal premium growth for 2015 was 15%, with a similar growth rate forecast for 2016, divergent from the Peruvian economic growth forecast of below 3% for 2016. Premiums growth has being mainly driven by annuities, followed by property and vehicles. Potential changes in annuities/pensions regulation could negatively affect the estimated premium growth for the short and medium term, as well as the insurance-pension products sophistication and even the Peruvian financial capital market, in Fitch Rating's opinion. Profitability Driven by Investments: The industry's net income continues to depend on the financial performance of its investments. As of November 2015 investment income ascended to PEN1.873 million, 11% (annualized) higher than 2014, maintaining its upward trend. Solid financial income is reflected in the industry's consolidated operational...
