Vivir Seguros closes 2024 with S/ 95 million in profits and expansion plans.

The insurance company Vivir Seguros has closed the year 2024 with an impressive balance, reporting profits of S/ 95 million. This positive result is the outcome of sustained efforts over time, which have allowed the insurer to consolidate its value proposition in the competitive Peruvian market, where it has been operating for over eleven years. The management of General Manager José Ernesto Bazo has been key to achieving this milestone, emphasizing that the last year was "very positive" and that the company's growth translated into more than a tenfold increase in its revenues. One of the factors driving this remarkable growth has been the rebound in sales of life annuities, a product that offers clients a savings alternative through which they receive a fixed and periodic payment until death. This type of insurance has captured the interest of Peruvians, achieving a market share of 11%. According to Bazo, this trend has been favored by a greater understanding of the importance of long-term savings among the population. In addition to life annuities, Vivir Seguros has actively participated in the bidding for the Survival and Disability Insurance of the AFPs, which is expected to generate revenues exceeding S/ 500 million for this year. This strategy not only diversifies its product portfolio but also reinforces its position as a relevant player in the sector. The combination of these factors has created an optimistic climate within the company, which aims to remain at the top of the industry. On the other hand, the insurer has not only focused on central Lima but has also directed efforts towards expanding its operations in the provinces. In Arequipa, for example, they have opened new offices, and this region has become a key driver for sales, reaching approximately S/ 180 million in revenues. This regional focus aligns with Vivir Seguros' strategy to provide quality services and products to a broader audience, which often feels neglected. As part of its commitment to offering solutions that meet the needs of the population, the company is in the process of launching new products. Among them are a funeral insurance and a critical illness protection plan. Bazo emphasized the importance of designing accessible and understandable products that can provide peace of mind and security to clients and their families in critical moments. Vivir Seguros' initiative aligns with the new strategy of the Ministry of Economy and Finance (MEF), which aims to secure public goods. This measure seeks to guarantee the protection of fundamental assets for the country's development, which could create a more favorable environment for the growth of the insurance sector. Collaboration between the public and private sectors is essential to build a framework that promotes inclusion and access to insurance, especially in vulnerable areas. The insurance market environment in Peru appears to be at a turning point, where the changing needs of the population demand an agile and effective response. Companies like Vivir Seguros are taking note of this phenomenon and are willing to innovate to meet these demands. The creation of tailored products that respond to specific situations, such as death or serious illnesses, are steps in the right direction. Experts suggest that the insurance sector could grow by 9% in 2024, driven by the demand for products that provide security and protection. However, projections for 2025 depend on several factors, including the insurers' ability to adapt to customer expectations and the regulations implemented to strengthen the sector. In conclusion, Vivir Seguros stands out as a model to follow in the Peruvian insurance industry, with a clear vision and effective execution that has allowed it to achieve significant financial success. As they prepare to face 2025, the new products in their portfolio promise not only to expand their market presence but also to contribute to the well-being of the population seeking effective and accessible insurance solutions. The future of Vivir Seguros looks bright, and their commitment to innovation will be key to their ongoing growth.