From 2013 to 2023, the life insurance reserves as a proportion of household financial assets in Chile have shown mild fluctuations. The series began with a decrease, dropping from 10.51 in 2013 to 10.16 in 2014. This was followed by a moderate upward trend, reaching 11.21 by 2018. Subsequent years saw slight corrections, with a value shifting between 10.74 and 10.96, before culminating at 10.99 in 2023. The last five years returned a negative Compound Annual Growth Rate (CAGR) of -0.39%, indicating overall stagnation in this period.
Looking ahead, forecasts from 2024 to 2028 predict a steady albeit modest increase in the life insurance reserves to total household financial assets ratio, rising from 11.02 in 2024 to 11.12 by 2028. The 5-year forecasted CAGR is estimated to be 0.18%, suggesting a gradual and stable growth.
Future trends to watch for include economic shifts that could influence household saving behaviors, regulatory changes in the insurance industry, and broader economic indicators like GDP growth and inflation that affect disposable income and investment preferences.
