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Boston, MA -- (SBWire) -- 10/25/2013 --The Chilean personal accident and health insurance segment recorded a growth in gross written premium during the review period (2008-2012). Such growth was driven by the country's implementation of compulsory personal accident insurance and an increase in the volume of outbound tourists. The segment's gross written premium increased from CLP226.5 billion (US$433.5 million) in 2008 to CLP400.1 billion (US$822.5 million) in 2012, at a CAGR of 15.3% and are expected to increase to CLP623.5 billion (US$1.2 billion) in 2017, at a CAGR of 9.3% over the forecast period (2012-2017). The number of personal accident and health insurance policies sold is anticipated to increase from 1.4 million in 2012 to 1.8 million in 2017, at a forecast-period CAGR of 5.2%. However, the segment accounted for the lowest share of written premiums in the industry in 2012. This was primarily due to the country's public healthcare system that covers a sizeable proportion of the population and limits the scope for private health insurance companies to expand their business.

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Key Highlights

- The personal accident and health segment is in the early stages of development and accounted for just 7.1% of the industry's written premium in 2012.
- The segment's gross written premium increased to CLP400.1 billion (US$822.5 million) in 2012, growing at a CAGR of 15.3% during the review period.
- Health insurance was the largest category and accounted for 66.4% of the segment's written premiums in 2012, whereas the personal accident insurance category accounted for the second-largest share, with 33.4% of the segment's written premium value.
- The Chilean personal accident and health segment is concentrated and the ten leading companies accounted for 75.0% of the total written premiums in 2012.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Chile:

- It provides historical values for Chile's personal accident and health insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Chile's personal accident and health insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for personal accident and health insurance products in Chile
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Chile for the personal accident and health insurance segment
- It provides a detailed analysis of the reinsurance segment in Chile and its growth prospects

Companies Mentioned in this Report: Metlife, EuroAmerica, BICE Vida, BCI Seguros Vida, Security Prevision, Cruz del Sur, Zurich Santander, Sura, Chilena Consolidada, BanChile

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