Insurance companies and municipal savings banks gear up for the pension business in Peru

The pension reform to be enacted by the Executive allows new players to enter the sector in a bid to promote competition and reduce fees.

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Pension reform to be presented at the end of October

The Government will face a tough scenario in Congress, since it lacks a majority and the opposition has established the idea that rejection of the new constitution removed the social floor from the pension reform.

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AFPs and insurers expecting changes to Peru’s 95.5% law

Giovanna Prialé, president of the AFP Association, said allowing workers to withdraw 95.5% of their savings at retirement has disrupted the objectives of the pension system.

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BTG Pactual hires Jaime Maluk for new annuity unit

Jaime Maluk (photo), a well-known executive in the Chilean financial sector and former CEO of the local brokerage firms Euroamérica and Cruz del Sur, will lead BTG into the Chilean insurance market.

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