Assets and Liabilities for insurance and reinsurance contracts (Tables)

12 Months Ended

Dec. 31, 2025

Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Abstract]

Summary of caption is comprised

(a)

This caption is comprised of the following:


		2025												2024
		Assets				Liabilities				Net				Assets				Liabilities				Net
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)

Reinsurance contracts held (*)			(17,078	)			4,482				(12,596	)			(18,602	)			1,968				(16,634	)

Insurance contracts issued
Liability for remaining coverage (**)			(40,104	)			12,744,701				12,704,597				—				12,335,922				12,335,922
Liability for incurred claims			—				314,071				314,071				—				186,430				186,430
Total insurance contracts issued (b) and (c)			(40,104	)			13,058,772				13,018,668				—				12,522,352				12,522,352
Total insurance contracts issued and reinsurance contracts held			(57,182	)			13,063,254				13,006,072				(18,602	)			12,524,320				12,505,718

(*) Correspond to the ceded part of the reinsurance contracts mainly life insurance contracts.

(**) In October 2024, the Private Pension System carried out the Eighth Public Auction of the member portfolio for the Pension Insurance for Survivors and Disability. Interseguro was awarded a seventh of the portfolio. As of December 31, 2025, the debit balance corresponds to the estimation of premiums receivable from November and December. During 2026, this balance was fully collected.

Summary of movement of issued insurance contract liabilities

(b) The movement of issued insurance contract liabilities is presented below:


		2025
		Liabilities for remaining coverage								Liabilities for incurred claims in contracts measured by the general model (BBA) and variable fee approach (VFA)								Liabilities for incurred claims in contracts measured by the Premium Allocation Approach (PAA)
		Excluding loss component				Loss component				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Total
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Balance as of January 1, 2025			11,593,754				742,168				148,101				4,271				33,276				782				12,522,352
Insurance revenue			(1,124,366	)			—				—				—				—				—				(1,124,366	)
Contracts under fair value, BBA and VFA approach			(627,800	)			—				—				—				—				—				(627,800	)
Contracts under PAA approach			(496,566	)			—				—				—				—				—				(496,566	)
Insurance service expenses			171,463				(79,044	)			444,236				(2,127	)			319,554				5,097				859,179
Incurred claims and other expenses			—				—				971,901				107				208,745				5,097				1,185,850
Amortization of insurance acquisition cash flows			171,463				—				—				—				—				—				171,463
Losses on onerous contracts and reversals of those losses			—				(79,044	)			—				—				—				—				(79,044	)
Changes to liabilities for incurred claims			—				—				(527,665	)			(2,234	)			110,809				—				(419,090	)
Insurance service result			(952,903	)			(79,044	)			444,236				(2,127	)			319,554				5,097				(265,187	)
Insurance financial expenses			1,373,048				76,119				—				—				—				—				1,449,167
Insurance financial result			637,678				76,119				—				—				—				—				713,797
Interest rate effect (*), see Note 3.4(d.1)			735,370				—				—				—				—				—				735,370
Effect of movements in exchange rates			(474,146	)			(22,241	)			(2,344	)			(183	)			(796	)			(14	)			(499,724	)
Total changes in the statement of income and other comprehensive income			(54,001	)			(25,166	)			441,892				(2,310	)			318,758				5,083				684,256
Net cash flow and investment component			487,946				—				(459,979	)			—				(175,803	)			—				(147,836	)
Premiums received			1,323,126				—				—				—				—				—				1,323,126
Claims and other expenses paid			—				—				(1,038,800	)			—				(175,803	)			—				(1,214,603	)
Insurance acquisition cash flows			(256,359	)			—				—				—				—				—				(256,359	)
Investment component			(578,821	)			—				578,821				—				—				—				—
Balance as of December 31, 2025 (**)			12,027,699				717,002				130,014				1,961				176,231				5,865				13,058,772

(*) Comprises the variation in market interest rates. In 2025, the rates for pension business in US Dollars presented a decrease from 6.412 percent in 2024 to 5.596 percent in 2025; whereas rates for pension business in Soles presented a decrease from 6.922 percent in 2024 to 6.318 percent in 2025; and rates for pension business in Soles VAC presented a decrease, from 3.599 percent in 2024 to 3.352 percent in 2025.

(**) Balance does not include movement of the asset for S/40,104,000, see Note 14(a).


		2024
		Liabilities for remaining coverage								Liabilities for incurred claims in contracts measured by the general model (BBA) and variable fee approach (VFA)								Liabilities for incurred claims in contracts measured by the Premium Allocation Approach (PAA)
		Excluding loss component				Loss component				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Total
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Balance as of January 1, 2024			11,301,149				699,071				155,649				5,257				43,237				1,278				12,205,641
Insurance revenue			(768,758	)			—				—				—				—				—				(768,758	)
Contracts under fair value, BBA and VFA approach			(545,835	)			—				—				—				—				—				(545,835	)
Contracts under PAA approach			(222,923	)			—				—				—				—				—				(222,923	)
Insurance service expenses			136,433				(57,777	)			454,446				(990	)			101,245				(497	)			632,860
Incurred claims and other expenses			—				—				979,959				106				47,549				(497	)			1,027,117
Amortization of insurance acquisition cash flows			136,433				—				—				—				—				—				136,433
Losses on onerous contracts and reversals of those losses			—				(57,777	)			—				—				—				—				(57,777	)
Changes to liabilities for incurred claims			—				—				(525,513	)			(1,096	)			53,696				—				(472,913	)
Insurance service result			(632,325	)			(57,777	)			454,446				(990	)			101,245				(497	)			(135,898	)
Insurance financial expenses			622,313				97,206				—				—				—				—				719,519
Insurance financial result			562,759				97,206				—				—				—				—				659,965
Interest rate effect (*), see note 3.4(d.1)			59,554				—				—				—				—				—				59,554
Effect of movements in exchange rates			67,432				3,668				292				4				146				1				71,543
Total changes in the statement of income and other comprehensive income			57,420				43,097				454,738				(986	)			101,391				(496	)			655,164
Net cash flow and investment component			235,185				—				(462,286	)			—				(111,352	)			—				(338,453	)
Premiums received			1,029,082				—				—				—				—				—				1,029,082
Claims and other expenses paid			—				—				(1,039,615	)			—				(111,352	)			—				(1,150,967	)
Insurance acquisition cash flows			(216,568	)			—				—				—				—				—				(216,568	)
Investment component			(577,329	)			—				577,329				—				—				—				—
Balance as of December 31, 2024			11,593,754				742,168				148,101				4,271				33,276				782				12,522,352

(*) Comprises the variation in market interest rate. In 2024, the rates for pension business in US Dollars presented an increase from 6.409 percent in 2023 to 6.412 percent in 2024; whereas rates for pension business in Soles presented a decrease from 6.962 percent in 2023 to 6.922 percent in 2024; and rates for pension business in Soles VAC presented a decrease, from 3.722 percent in 2023 to 3.599 percent in 2024.

Summary of issued insurance contracts' net asset or liability

(c) Following is the movement of the issued insurance contracts’ net asset or liability, showing the present value estimates of future cash flows, risk adjustment and the contractual service margin (CSM) for portfolios included in the life insurance unit:


		2025																2024
		Estimates of the present value of future cash flows				Risk Adjustment				Contractual Service Margin (d)				Total				Estimates of the present value of future cash flows				Risk Adjustment				Contractual Service Margin (d)				Total
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Balance as of January 1			11,305,123				277,284				870,851				12,453,258				11,072,275				302,764				742,870				12,117,909
Changes that relate to current services
Contractual service margin recognized for services provided			—				—				(132,263	)			(132,263	)			—				—				(94,596	)			(94,596	)
Risk adjustment recognized for the risk expired			—				(20,797	)			—				(20,797	)			—				(12,257	)			—				(12,257	)
Experience adjustments			(62,243	)			—				—				(62,243	)			(30,427	)			—				—				(30,427	)
Changes that relate to future services
Contracts initially recognized in the period			(325,501	)			18,385				341,071				33,955				(260,895	)			13,417				269,737				22,259
Changes in estimates that adjust the contractual service margin			55,515				(2,003	)			(53,512	)			—				101,713				(6,470	)			(95,243	)			—
Changes in estimates that do not adjust the contractual service margin			(36,850	)			(8,407	)			—				(45,257	)			23,807				(36,502	)			—				(12,695	)
Changes that relate to past services
Adjustments to liabilities for incurred claims			(15,548	)			(2,322	)			—				(17,870	)			(6,806	)			—				—				(6,806	)
Insurance service result			(384,627	)			(15,144	)			155,296				(244,475	)			(172,608	)			(41,812	)			79,898				(134,522	)
Insurance financial expenses			1,356,275				26,873				66,019				1,449,167				658,081				15,090				46,348				719,519
Insurance financial result			620,905				26,873				66,019				713,797				598,527				15,090				46,348				659,965
Interest rate effect, see Note 3.4(d.1)			735,370				—				—				735,370				59,554				—				—				59,554

Effect of movements in Exchange rates			(477,123	)			(9,115	)			(12,226	)			(498,464	)			68,286				1,242				1,735				71,263
Total changes in the statement of income and other comprehensive income			494,525				2,614				209,089				706,228				553,759				(25,480	)			127,981				656,260
Cash flows			(320,715	)			—				—				(320,715	)			(320,911	)			—				—				(320,911	)
Premiums received			825,245				—				—				825,245				812,221				—				—				812,221
Claims and other expenses paid			(1,038,800	)			—				—				(1,038,800	)			(1,039,615	)			—				—				(1,039,615	)
Insurance acquisition cash flows			(107,160	)			—				—				(107,160	)			(93,517	)			—				—				(93,517	)
Balance as of December 31 (*)			11,478,933				279,898				1,079,940				12,838,771				11,305,123				277,284				870,851				12,453,258

(*) Balance does not include PPA movement of LRC and LIC amounting to S/179,897,000 (liabilities for S/220,001,000 and assets for S/40,104,000) and S/69,094,000 as of December 31, 2025 and 2024, respectively.

Summary of CSM movement for insurance contract portfolios

(d) Following is the CSM movement for insurance contract portfolios for the periods 2025 and 2024:


		2025				2024
		Total Contracts using the fair value approach				Total Contracts using the fair value approach
		S/(000)				S/(000)
Contractual Service Margin as of January 1			870,851				742,870
Changes that relate to current services
Contractual service margin recognized for services provided			(132,263	)			(94,596	)
Changes that relate to future services
Contracts initially recognized in the period			341,071				269,737
Changes in estimates that adjust the contractual service margin			(53,512	)			(95,243	)
Insurance service result			155,296				79,898
Insurance financial expenses			66,019				46,348
Effect of movements in exchange difference			(12,226	)			1,735
Total changes in the statement of income			209,089				127,981
Other movements			—				—
Balance as of December 31			1,079,940				870,851

Summary of new insurance contracts issued

(e) The following table details the components of the new insurance contracts issued and included in the life insurance unit:


		2025												2024
		Contracts issued												Contracts issued
		Non-onerous				Onerous				Total				Non-onerous				Onerous				Total
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Life insurance contract liabilities
Estimate of present value of future cash outflows, excluding insurance acquisition cash flows			747,034				231,589				978,623				652,557				218,540				871,097
Estimates of insurance acquisition cash flows			81,917				16,719				98,636				75,164				17,338				92,502
Estimate of present value of future cash outflows			828,951				248,308				1,077,259				727,721				235,878				963,599
Estimates of present value of future cash inflows			(1,185,466	)			(217,294	)			(1,402,760	)			(1,008,629	)			(215,865	)			(1,224,494	)
Risk adjustment			15,444				2,941				18,385				11,171				2,246				13,417
Contractual service margin			341,071				—				341,071				269,737				—				269,737
Losses on onerous contracts at initial recognition			—				33,955				33,955				—				22,259				22,259

Summary of CSM is expected to be in profit or loss

(f) Following is the disclosure of when the CSM is expected to be in profit or loss in future years:


		2025
		Less than a year				From 1 to 2 years				From 2 to 3 years				From 3 to 4 years				From 4 to 5 years				More than 5 years				Total
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Insurance contracts issued -
Pensions			(2,750	)			713				3,822				5,936				7,322				334,959				350,002
Life			32,149				29,727				28,627				28,227				28,437				419,014				566,181
General insurance			45,484				33,955				24,251				16,028				9,555				34,484				163,757
			74,883				64,395				56,700				50,191				45,314				788,457				1,079,940


		2024
		Less than a year				From 1 to 2 years				From 2 to 3 years				From 3 to 4 years				From 4 to 5 years				More than 5 years				Total
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Insurance contracts issued -
Pensions			(11,923	)			(10,803	)			(9,509	)			(8,481	)			(7,654	)			350,817				302,447
Life			(3,773	)			(3,615	)			(2,780	)			(877	)			1,665				448,532				439,152
General insurance			30,864				23,683				16,570				11,035				6,961				40,139				129,252
			15,168				9,265				4,281				1,677				972				839,488				870,851

Summary of reconciliation of the amount included in net unrealized income for insurance premium reserves

(g) Reconciliation of the amount included in net unrealized income for insurance premium reserves. On transition to IFRS 17, the Group applied the fair value approach for certain groups of contracts with term-life cover and surrender options. The movement in the fair value reserve for related financial assets measured at fair value through other comprehensive income is disclosed below:


		2025				2024
		S/(000)				S/(000)
Cumulative other comprehensive income, opening balance			682,727				744,116
Losses recognized in other comprehensive income in the period			(735,370	)			(59,554	)
Rate effect of “Renta Particular” contract (*)			(1,850	)			1,065
Others			725				(2,900	)
Cumulative other comprehensive income, closing balance			(53,768	)			682,727

(*) Comprises the variation in market interest rate of contracts with investment component recorded in the caption “other accounts payable, provisions and other liabilities”, see Note 10(a).