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Chile Insurance Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 54 pages

Includes 3 FREE quarterly updates

BMI View: Despite the global difficulties facing Chile's economy, the country's insurance market continuesto be one of the most dynamic in Latin America. High income levels and life expectancies, combined with awell-structured pensions framework have helped support the development of the life insurance sector, whichcontinues to grow through product development and new innovations. Life insurance premiums are growingrapidly from a low base. The life and non-life markets are mature and contain several leading multinationalfirms as well as indigenous providers, meaning opportunities for new entrants will be more limited thanthey are in other markets in the region. Nevertheless, the growth of these sectors may open up opportunitiesfor partnerships and mergers with smaller local players.

Key Updates and Forecasts

- In January 2016, US insurer Liberty Mutual Insurance announced the completion of the acquisition ofChile's Penta Security, the fourth largest non-life insurance provider in the country. This sees Libertybecome the largest provider of property and casualty insurance in Chile.

- We forecast Chile's life insurance market to grow 9.0% y-o-y in USD over 2015-2020, to USD9.9bn.

- The non-life market will grow slightly faster, with premiums growing by 10.3% y-o-y, to USD5.7bn.

Table Of Contents

Chile Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Chile 2013-2020) 5
SWOT 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Chile 2013-2020) 11
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (Chile 2013-2020) 15
Non-Life Sub-Sector Forecast 15
Table: Non-Life Insurance Premiums by Product Line (Chile 2013-2020) 25
Insurance Risk/Reward Index 27
Latin America Insurance Risk/Reward Index 27
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q216 28
Market Overview 29
Life Market Overview 29
The Product Offering 29
The Competitive Landscape 29
Table: Life Insurance Market (USDmn) 2007-2013 31
Non Life Market Overview 32
The Product Offering 32
The Competitive Landscape 33
Table: Non-Life Insurance Market (USDmn) 2007-2013 35
Company Profile 37
Chilena Consolidada 37
Grupo Security 39
MAPFRE 41
Metlife 43
RSA 46
Methodology 48
Industry Forecast Methodology 48
Risk/Reward Index Methodology 51
Table: Indicators 53
Table: Weighting of Indicators 54

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