Rising Stars

Insurance in Peru

Kennedys

Truly experts in the field of insurance and reinsurance’, Kennedys offers clients ‘very good results in regulatory matters, coverage analysis, negotiation and litigation’. With Marco Rivera Noya at the helm, the practice continues to advise advises local and international insurers, reinsurers, brokers and adjusters on claims, disputes, policy wording and public law matters. Noya focuses on the commercial and regulatory aspects of the insurance sector and is well versed in international arbitration. Fernando Hurtado De Mendoza is another key practitioner, who has considerable experience in the maritime and aviation sectors and is chair of the Aviation and Aerospace Law Committee of the Inter-Pacific Bar Association. At associate level, key figures include practice director Kodiak Semsch, an experienced litigator; and senior associates Alonso Barreda ('an expert in coverage analysis') and Noriko Hasegawa ('a regulatory scholar'); with Barreda recommended for coverage analysis and arbitration, and Hasegawa focusing on regulatory and licensing matters.

Practice head(s):

Marco Rivera Noya

Testimonials

‘Kennedys lawyers are truly experts in the field of insurance and reinsurance‘.

‘Unlike other law firms in Peru, Kennedys is a niche firm whose lawyers have a long history with very good results in regulatory matters, coverage analysis, negotiation and insurance and reinsurance litigation‘.

‘Kennedys is a global group headquartered in London that has focused on all its lawyers having the latest technology for remote work and data protection, in this way they have always been able to maintain their customer service uninterrupted‘.

‘The fact that this firm has offices all over the world, makes it stand out from the others because it brings with it a lot of diversity and perspectives from different cultures and legislations that complement the in-depth understanding of the insurance business and the creativity for the best conflict solutions‘.

‘Diversity, creativity and specialisation focused on the different aspects of the insurance and reinsurance business‘.

‘Marco Rivera is an excellent leader, which is reflected in a top-of-the-line team that has accompanied him since he opened the practice‘.

‘Noriko Hasegawa is a regulatory scholar; always available and has the correct answer to solve any regulatory process‘.

‘Alonso Barreda, is an expert in coverage analysis; his reports are very clear and direct’.

Key clients

Rimac Seguros y Reaseguros

Pacifico Compañía de Seguros y Reaseguros

Liberty Seguros

Liberty Mutual

AXA XL

Munich RE

AmTrust Group

Swiss Re

Helvetia

CV Starr

Interseguro

QBE

BNP Paribas Cardif S.A. Compañia de Seguros y Reaseguros

Newline Group Latin America Division

Work highlights

  • Handling a complex litigation process (material damage and business interruption) for reinsurers and Pacífico in relation to a $60m lawsuit due to damage to two hydroelectric stations in January-March 2017.
  • Acted for Sedgwick International on the incorporation of a local entity and its licensing as an insurance loss adjuster before the local insurance superintendence (SBS).
  • Assisted Rimac Seguros y Reaseguros with coverage analysis regarding a claim filed by CORPAC, a state-owned company which provides air navigation and airport services in the country, due to business interruption losses arising as a consequence of the lockdown ordered by the government due to Covid-19.

Osterling Abogados

Osterling Abogados is ‘the leading firm in the Peruvian market’ with ‘a high degree of technical specialisation and a deep knowledge of the insurance market’. Strong on both contentious and non-contentious matters, the practice acts for leading insurers, foreign reinsurers and large international law firms on regulatory issues, licensing, and litigation and arbitration. It often handles claims involving contractual, professional or tort liability issues, and also caters to the corporate and transactional needs of clients. Enrique Ferrando  co-heads the team and brings considerable knowledge of the insurance regulatory framework and commercial issues to the practice. Fellow co-head and experienced litigator Gabriel Loli  is particularly experienced in claims arising in the construction and engineering sectors. Principal associates Ibeth Torres  and  Rabeth Pareja are also recommended, with Torres handling commercial and regulatory issues in the sector and Pareja specialising in the submission of liability insurance claims. Silvia Otárola   joined as senior associate from an in-house role at Liberty Seguros in Otober 2021.

Practice head(s):

Enrique Ferrando; Gabriel Loli

Testimonials

‘As a team they present organised and efficient work‘.

‘I believe that Osterling Abogados is the leading firm in the Peruvian market, without question. Not only because of the accumulated experience of its team, but also because of its high degree of technical specialisation and its deep knowledge of the insurance market‘.

‘They are a safe choice for handling complex matters, whether litigation, commercial or regulatory‘.

‘Its approach is strategic since it includes all the possible scenarios that might arise in each case‘.

‘As a whole, the team stands out for its technical and legal solvency and its knowledge of the market and the industry‘.

‘Enrique Ferrando’s knowledge of insurance law is exceptional, perhaps the best specialist in the Peruvian market; he is also a brilliant strategist‘.

‘Enrique Ferrando has extensive experience in resolving high-stakes disputes‘.

‘Gabriel Loli has consolidated over the years; he is highly technical, analytical, and provides accurate and timely answers on very complex issues‘.

Key clients

Rimac Seguros y Reaseguros

Mapfre Perú Compañía De Seguros Y Reaseguros

La Positiva Seguros

(BLP) Sompo International

Pacífico Seguros

Apeseg

Avla

Arthur J Gallagher Perú Corredores de Seguros

Marsh Rehder Corredores de Seguros

Coface

Allianz Global Corporate & Specialty Se

Axa Xl

Avla Insurance Group

Mitsui Sumitomo Insurance Company

Nationale Borg Reinsurance

Ohio National Peru

Work highlights

  • Advised APESEG (private sector association gathering leading insurance companies) to assess and make remarks on a draft regulation issued by the Peruvian insurance authority for information security management and cybersecurity.
  • Defended market leader Rimac Seguros y Reaseguros in an arbitration in which Luz del Sur claims failed to comply with a $30m indemnity payment resulting from a loss that occurred during the construction of an underground hydroelectric power plant in Cuzco, Peru.
  • Advised Sompo Seguros Mexico on all the corresponding procedures for its licensing and qualification as a reinsurance company before the Peruvian Banking, Insurance and Pension Funds Authority (SBS).

Miranda & Amado

The insurance and reinsurance practice at Miranda & Amado is very active in the domestic market and acts for Peru’s leading insurance companies on a range of matters, from structuring insurance products and regulatory issues, to disputes and corporate transactions. On the corporate and finance side, the firm takes a multidisciplinary approach, drawing on strengths of practitioners in other departments to provide a holistic approach to insurance mandates. Rafael Corzo   heads the team and complements his insurance practice with banking expertise, which makes him particularly strong on bancassurance matters. Counsel Eduardo Wiese  handles insurance-related regulatory and transactional matters, as well as insolvency proceedings. Associate Pablo Cassinelli  is another name to note for regulatory and contractual matters.

Practice head(s):

Rafael Corzo

Testimonials

‘The team provides excellent advice on matters of its competence, which is timely and efficient‘.

‘Coordination with the client is fluid and close‘.

‘The service is of a very high quality‘.

‘Legal opinions are precise, accurate and timely‘.

‘The firm’s lawyers stand out for their great competence and professional experience and for their professional ethics‘.

‘In my opinion, the team stands out for clearly explaining all the stages of the processes that must be carried out to resolve conflicts, which provides a lot of confidence because you are clear about the status of the matters entrusted to them‘.

‘Rafael Corzo has extensive knowledge on the subject of insurance and bonds, in my opinion there are not many lawyers who dominate this type of subject, additionally he makes sure to successfully conclude the matters that are requested of him, also, his response time is very good‘.

‘Depth in analysis and research to support their opinions‘.

Key clients

Rimac Seguros

Peruvian Association of InsuranceCompanies (APESEG)

Banco Ripley Perú

Fondo de Seguro de Depósito del Perú

Pacífico Compañía de Seguros y Reaseguros

AVLA Perú Compañía de Seguros

La Positiva Seguros y Reaseguros

Intercorp Financial Services and Interseguro Compañía de Seguros

Citizens Inc./ McDermott Will & Emery UK

Gas Natural de Lima y Callao

ICA Group

Work highlights

  • Providing monthly, regular and permanent advice regarding insurance and corporate regulations to Rimac Seguros and its affiliate companies; the team also works together with the client’s insurance department in relation to the coverage of major and relevant vehicle accidents due to their reputational and media impact.
  • Providing monthly, regular and permanent advice regarding insurance, tax and corporate regulations to AVLA Perú Compañía de Seguros, including advice regarding insurance, technical provisions in relation to the issuance of letters of credit, provisions in relation to the deterioration of premium payments, and advice on its relationship with the Banking, Insurance and Pension Funds Superintendency.
  • Acting for Banco Ripley Perú, providing regular monthly legal advice regarding insurance and tax matters, ranging from structuring insurance products and other regulatory matters, to the revision of bancassurance agreements entered into by Banco Ripley Perú with different insurance companies that operate in Peru.

Quiroga & Barton Abogados

Boutique firm Quiroga & Barton Abogados houses considerable expertise and experience in the insurance sector. With a focus on the broking market, the practice -co-led by Manuel Quiroga Suito and Víctor Custodio - handles regulatory and transactional matters, along with claims in the marine, energy, mining, construction and healthcare sectors. Quiroga handles insurance and reinsurance matters and is also recommended for maritime law; and Custodio is the name to note for civil liability insurance and construction risks. Key associate Edwin Ortiz, a former General Counsel at Aon, has extensive experience in insurance and reinsurance matters, as well as insurance intermediaries’ regulations; he is also noted for compliance and risk prevention, as well as civil procedural and administrative law.

Practice head(s):

Manuel Quiroga Suito; Victor Custodio

Key clients

Aon Perú Corredores de Seguros

Aon Perú Corredores de Reaseguros

Protección Agropecuaria Compañía de Seguros (PROAGRO)

Willis Towers Watson

UK Club P&I

Standard P&I

Charles Taylor

America Brokers (Nova Latam)

Arthur J Gallagher Peru Corredores de Seguros

Lockton Peru Corredores de Seguros

Lockton Peru Corredores de Reaseguros

JEF Corredores de Seguros

South Re Corredores de Reaseguros

Work highlights

  • Advised Standard P&I / Charles Taylor on the vessel “Mare Doricum” as P&I lawyers, in connection with the oil spill at Repsol’s La Pampilla terminal.
  • Advising Petroperu on several claims regarding malicious damages to the North-Peruvian oil pipeline.
  • Advising Petroperu in relation to a claim against a local insurer regarding a broken oil pipeline underneath the Pastaza river.

Estudio Echecopar member firm of Baker McKenzie International

The team at Estudio Echecopar member firm of Baker McKenzie International stands out for its ‘professionalism and constant interaction with the client’, from both an insurer and insured-side perspective. Practice head Rafael Picasso has great ‘technical strength' and works in conjunction with counsel Luis Ernesto Marin when advising on the establishment of new business models, as well as on administrative matters such as the obtaining of licences, permits and authorisations for insurance or reinsurance activities. The practice has found itself particularly active, of late, in the energy, mining and infrastructure sector, as well as ongoing and regular assistance to Zurich Insurance Company and various subsidiaries of Willis Towers Watson regarding their foreign operations in Peru.

Practice head(s):

Rafael Picasso

Testimonials

‘The Echecopar team stands out for its professionalism and constant interaction with the client. It is a group of very well-prepared lawyers, with a broad command of current legislation and jurisprudence, but what stands out the most is respectful, dialogic and direct attention to people. I am pleasantly impressed by the way they conduct cases, even though they are very complex processes.’

‘What has caught my attention the most is the firm’s people skills, ability to clear up doubts, answer questions, listen with respect to different points of view, as well as having the ability to find new ways to deal with different situations. I have worked directly with attorneys Rafael Picasso, Luis Ernesto Marin and Mikela Echeandía, and I have a high opinion of all three.’

‘It is a small team with solid knowledge of insurance practice. They seek to innovate in work mechanics, including technology issues and making it possible for customers to have information at hand. They seek to better reflect insurance regulation to other matters (such as financial transactions) making customers fe

el confident in the work they do.’

‘Luis Ernesto Marin has extensive and solid knowledge of the practice, he seeks to reflect it in a simple way to the new players in the market, giving confidence. It seeks to promote InsurTech and the application of new technologies to make insurance operations more efficient. Rafael Picasso has technical strength and extensive experience in advising various players in the insurance market.’

Key clients

Vivir Seguros Compañía de Seguros de Vida

Pacifico – Entidad Prestadora de Salud

Cogent International

Willis

Willis Torres Watson Consulting Perú

Willis Corredores de Seguros

Willis Corredores de Reaseguros

Zurich Insurance Company

Work highlights

  • Providing permanent legal advice to Vivir Seguros Compañia de Seguros de Vida (previously named “Compañia de Seguros de Vida Camara”), a Peruvian life insurance company which is a subsidiary of Chilean company Inversiones La Construccion, on regulatory issues related to its operations as an insurance company in Peru.
  • Preparing a legal report that develops analysis of whether the Health Provider Entities (Entidades Prestadoras de Salud – EPS) must comply with offering the coverage of the Essential Health Insurance Plan (Plan Esencial de Aseguramiento en Salud – PEAS) in their capacity as Private Health Insurance Fund Administration Institutions (IAFAS), or if there is an alternative provided for in Peruvian law that allows the EPS not to offer the provision of said coverage.
  • Advising on the process of obtaining authorisation from the SBS for the registration of Cogent International as a Foreign Reinsurance Broker Company, in the Registry of Insurance Intermediaries and Auxiliary, Foreign Reinsurance Companies and Cross-Border Insurance Activities under supervision of the SBS.

Estudio Olaechea

Estudio Olaechea caters to domestic and international clients, such as insurance brokers and agents, insurers and adjusters on advisory matters and disputes. It is well versed in the structuring and development of new insurance products, claims handling and regulatory compliance. Jesus Matos Castillo  heads the practice and has over 20 years’ experience in insurance and reinsurance matters, including the drafting and negotiation of insurance contracts, coverage disputes, and the representation before the insurance authority of Peru.

Practice head(s):

Jesus Matos Castillo

Key clients

Live Entertainment

Caterpillar Leasing Chile

Caterpillar International Services del Perú

Work highlights

  • Providing ongoing advice to Live Entertainment regarding the coverage and insurance policies required for its operations in Peru, such as all-risk and liability insurance policies.
  • Advising Caterpillar Leasing on insurance regulatory issues related to the financing of equipment sold in Peru.
  • Assisting Caterpillar International Services del Peru with insurance regulatory issues related to the equipment leased in Peru.

Rodrigo, Elías & Medrano – Abogados

Rodrigo, Elías & Medrano – Abogados focuses on offering counsel to reinsurers – typically foreign, but also domestic – regarding Peruvian risk and on any claims arising from related contracts. Restructuring and insolvency specialist Guillermo Puelles heads the practice, which is also developing a particular niche in aviation insurance; it has recently handled cases involving personal accidents and liability policies arising from air-related civilian tragedies. Other work involves assisting clients with the incorporation and commencement of new business activities in Peru. key associate support is provided by Sabrina Montoya.

Practice head(s):

Guillermo Puelles

Key clients

La Positiva Seguros y Reaseguros

Bupa

Rodríguez Angobaldo Abogados

Rigorous‘ litigation boutique Rodríguez Angobaldo Abogados specialises in contentious matters in the insurance and reinsurance markets, and is currently handling some 400 cases before the judiciary, as well as approximately 250 contentious administrative cases before INDECOPI; the practice group also has arbitral experience in the sector. Led by managing partner Fernando Rodríguez-Angobaldo  , the team is adept at handling the analysis of conditions and contractual clauses, policy evaluations, and damages claims following breaches of contract or missed payments. Recent and ongoing clients include leading Peruvian insurers Rímac Seguros y Reaseguros, La Positiva and Pacifico EPS; the latter of which is involved in Supreme Court proceedings following a decision by the National Superintendence of Health. Promoted to senior associate in January 2022, Marco Andrei Torres  is also noted.

Testimonials

‘The work carried out by the Rodríguez Angobaldo studio, from a professional and personal point of view, is excellent. They are very rigorous with the sponsorship of each case and give us the peace of mind that we need. They have a strong team, which knows the procedural aspects as well as the substantive ones. I have noticed that in their practice they manage process monitoring programs, which allows them to always be ahead of their counterparts. Really, we feel very comfortable with the firm’s work, and with its positioning and consolidation in recent years, as one of the most important firms in the Peruvian market.’

‘We appreciate the analysis and special dedication that is put into each case. We were recently informed that they had a successful outcome in a major company arbitration. The case was handled flawlessly; they neglected no element. I must highlight the special work of Fernando Rodríguez Angobaldo and Jaime Heredia Tamayo, and the contribution of Marco Torres Maldonado, senior associate. They have a really great team, always willing to give us the support we need.’

Key clients

Rímac Seguros y Reaseguros

La Positiva

Pacífico Eps

Liberty Seguro

Work highlights

  • Advising Rímac Seguros y Reaseguros on a case which has developed within the framework of a collective insurance contract between an Educational Center and Rímac.
  • Advising Rímac Seguros y Reaseguros on a P$327,976.81 damages suit  after a Peruvian company acquired an insurance policy to cover the construction of a new warehouse that subsequently collapsed during the construction process.
  • Advising Rímac Seguros y Reaseguros following a group of three contentious-administrative lawsuits filed against INDECOPI, where requests had been made to annul decisions that misinterpret the Insurance Contract Law of 2012, making them applicable to insurance contracts signed before said law became effective.