Albany, NY -- (SBWIRE) -- 11/20/2014 -- Synopsis

The report provides in-depth market analysis, information and insights into the Chilean non-life insurance segment, including:

The Chilean non-life insurance segment’s growth prospects by non-life insurance category

Key trends and drivers for the non-life insurance segment

The various distribution channels in the Chilean non-life insurance segment

The detailed competitive landscape in the non-life insurance segment in Chile

Detailed regulatory policies of the Chilean insurance industry

Analysis of various consumer segments in Chilean non-life insurance

Key developments in the Chilean non-life insurance segment

New products launched by Chilean non-life insurers

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Executive summary

Chilean GDP at constant prices posted a compound annual growth rate (CAGR) of 4.0% during 2008–2012. Insurance is one of the fastest-growing industries in Latin America, and the non-life segment’s gross written premium recorded a review-period (2009–2013) CAGR of 9.0%, and is relatively mature with the 10 leading companies collectively accounting for 85.5% of the segment’s gross written premium in 2013. Upcoming reforms in different economic sectors helped the segment’s growth during the review period, a trend that is projected to continue over the forecast period (2013–2018).

Regulatory reforms, such as the adoption of a new accounting framework based on International Financial Reporting Standards (IFRS) in 2012 and an upcoming Solvency II-style capital framework due 2015 are expected to support the non-life segment’s development over the forecast period. Furthermore, economic growth, an increase in automobile sales, rising infrastructure developments and improving regulatory frameworks are expected to drive the segment to post a forecast-period CAGR of 7.8% to reach CLP2.7 trillion (US$5.3 billion) in 2018.

Scope:

This report provides a comprehensive analysis of the non-life insurance segment in Chile:

It provides historical values for Chile’s non-life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

It offers a detailed analysis of the key categories in Chile’s non-life insurance segment, along with market forecasts until 2018.

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 non-life insurance products in Chile.

It profiles the top non-life insurance companies in Chile and outlines the key regulations affecting them.

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Reasons to buy

Make strategic business decisions using in-depth historic and forecast market data related to the Chilean non-life insurance segment and each category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Chilean non-life insurance segment.

Assess the competitive dynamics in the non-life insurance segment.

Identify the growth opportunities and market dynamics in key product categories.

Gain insights into key regulations governing the Chilean insurance industry and their impact on companies and the industry's future.

Key highlights

Insurance is one of the fastest-growing industries in Latin America, and the non-life segment’s gross written premium recorded a review-period (2009–2013) CAGR of 9.0%.

Regulatory reforms, such as the adoption of a new accounting framework based on International Financial Reporting Standards (IFRS) in 2012 and an upcoming Solvency II-style capital framework due 2015 are expected to support the non-life segment’s development over the forecast period.

Civil liability insurance in Chile gained popularity with the introduction of new insurance law implemented on December 1, 2013.

The measures undertaken in the 2014 reforms by the new President primarily focused on addressing infrastructure issues.

At the beginning of 2014, Chile had 22 FTAs, giving Chilean business access to trade with 60 countries, and Chile signed an FTA with the US in January 2014.

Chile lies on the “Ring of Fire” in the Pacific Ocean, one of the worlds’ most seismically active regions. Floods and high-magnitude earthquakes pose a serious threat to the insurers operating in Chile.

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