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NET PREMIUMS EARNED (Tables)
 12 Months Ended
Dec. 31, 2022
NET PREMIUMS EARNED [Abstract]  
Insurance Premiums Earned

a)
This item consists of the following:

   
Gross written
premiums
    
Technical reserve
adjustment
    
Total gross
written premiums
(*)
    
Premiums ceded
to reinsurers and
co-insurers, net (**)
    
Results of
financial assets
designated at fair
value through
profit and loss,
Note 8
    
Total net
premiums
earned
  
   
S/(000)

 
S/(000)

 
S/(000)

 
S/(000)

 
S/(000)

 
S/(000)

2022
                                                
Life insurance
    
2,614,643
      
(598,027
)
    
2,016,616
      
(252,940
)
    
(175,873
)
    
1,587,803
  
Health insurance
    
668,902
      
(30,885
)
    
638,017
      
(14,263
)
    
-
      
623,754
  
General insurance
    
1,199,655
      
(6,144
)
    
1,193,511
      
(531,773
)
    
-
      
661,738
  
Total
    
4,483,200
      
(635,056
)
    
3,848,144
      
(798,976
)
    
(175,873
)
    
2,873,295
  
                                                 
2021
                                                
Life insurance
    
2,508,154
      
(890,216
)
    
1,617,938
      
(214,636
)
    
54,663
      
1,457,965
  
Health insurance
    
630,790
      
(30,457
)
    
600,333
      
(15,078
)
    
-
      
585,255
  
General insurance
    
1,140,478
      
(3,176
)
    
1,137,302
      
(508,992
)
    
-
      
628,310
  
Total
    
4,279,422
      
(923,849
)
    
3,355,573
      
(738,706
)
    
54,663
      
2,671,530
  
                                                 
2020
                                                
Life insurance
    
2,036,713
      
(754,480
)
    
1,282,233
      
(115,347
)
    
115,627
      
1,282,513
  
Health insurance
    
584,068
      
(22,366
)
    
561,702
      
(12,309
)
    
-
      
549,393
  
General insurance
    
1,021,136
      
(4,614
)
    
1,016,522
      
(420,368
)
    
-
      
596,154
  
Total
    
3,641,917
      
(781,460
)
    
2,860,457
      
(548,024
)
    
115,627
      
2,428,060
  


(*)
This item includes earned premiums, reinsurance premiums accepted, and coinsurance premiums accepted and received.

  (**)
“Premiums ceded to reinsurers and coinsurers, net” include:

   
2022
    
2021
    
2020
  
   
S/(000)

 
S/(000)

 
S/(000)

                         
Premiums ceded for automatic contracts (mainly excess of loss), Note 9(b)
    
(392,123
)
    
(355,356
)
    
(244,112
)
Premiums ceded for facultative contracts, Note 9(b)
    
(399,482
)
    
(392,346
)
    
(327,098
)
Annual variation of reserve risk in progress of premiums ceded, Note 9(b)
    
(7,371
)
    
8,996
      
23,186
  
     
(798,976
)
    
(738,706
)
    
(548,024
)
Gross Written Premiums by Insurance Type

b)
Gross written premiums by insurance type are described below:

   
2022
    
2021
    
2020
  
   
S/(000)

%
    
S/(000)

%
    
S/(000)

%
  
                                           
Life insurance (i)
    
2,016,616
      
52.40
      
1,617,938
      
48.22
      
1,282,233
      
44.83
  
Health insurance (ii)
    
638,017
      
16.58
      
600,333
      
17.89
      
561,702
      
19.64
  
General insurance (iii)
    
1,193,511
      
31.02
      
1,137,302
      
33.89
      
1,016,522
      
35.53
  
Total
    
3,848,144
      
100.00
      
3,355,573
      
100.00
      
2,860,457
      
100.00
  


(i)
The breakdown of life insurance gross written premiums is as follows:

   
2022
    
2021
    
2020
  
   
S/(000)

%
    
S/(000)

%
    
S/(000)

%
  
                                           
Disability and survival (*)
    
778,661
      
38.61
      
645,194
      
39.88
      
458,653
      
35.77
  
Credit life
    
660,696
      
32.76
      
593,370
      
36.67
      
582,064
      
45.39
  
Individual life (**)
    
323,881
      
16.06
      
119,220
      
7.37
      
46,391
      
3.62
  
Group life
    
165,651
      
8.21
      
150,777
      
9.32
      
129,315
      
10.09
  
Annuities
    
87,727
      
4.36
      
109,377
      
6.76
      
65,810
      
5.13
  
Total
    
2,016,616
      
100.00
      
1,617,938
      
100.00
      
1,282,233
      
100.00
  


(*)
This item includes Complementary Work Risk Insurance (“SCTR” from its Spanish acronym).

  (**)
Individual life insurance premiums include Investment Link insurance contracts.


(ii)
Health insurance gross written premiums after adjustments include medical assistance which amounts to S/ 552.8 million as of December 31, 2022 (S/ 519.8 million and S/ 483.1 million as of December 31, 2021 and 2020, respectively) and represents 86.65 percent of this line of business as of December 31, 2022 ( 86.59 and 86.01 percent as of December 31, 2021 and 2020,respectively).

  (iii)
General insurance gross written premiums consist of the following:

   
2022
    
2021
    
2020
  
   
S/(000)

%
    
S/(000)

%
    
S/(000)

%
  
                                           
Automobile
    
335,401
      
28.10
      
334,939
      
29.45
      
339,306
      
33.38
  
Fire and allied lines
    
324,351
      
27.18
      
311,048
      
27.35
      
271,380
      
26.70
  
Theft and robbery
    
132,138
      
11.07
      
110,815
      
9.74
      
88,751
      
8.73
  
Third party liability
    
124,983
      
10.47
      
109,907
      
9.66
      
62,080
      
6.11
  
Transport
    
74,237
      
6.22
      
58,300
      
5.13
      
42,758
      
4.21
  
Technical lines (*)
    
68,611
      
5.75
      
63,792
      
5.61
      
59,370
      
5.84
  
Marine Hull
    
35,104
      
2.94
      
29,414
      
2.59
      
23,091
      
2.27
  
SOAT (Mandatory automobile line)
    
25,334
      
2.12
      
25,662
      
2.26
      
32,934
      
3.24
  
Aviation
    
16,551
      
1.39
      
38,275
      
3.37
      
37,366
      
3.68
  
Others
    
56,801
      
4.76
      
55,150
      
4.84
      
59,486
      
5.84
  
Total
    
1,193,511
      
100.00
      
1,137,302
      
100.00
      
1,016,522
      
100.00
  


(*)
Technical lines include Contractor’s All Risk (CAR), Machinery breakdown, All Risk (EAR), Electronic equipment (EE), All Risk Contractor’s Equipment (ARCE).