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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Chilean non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Chile's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Chilean non-life (P&C) market as well as trends by line of business. Axco analysts also report on Chile's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Chile's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Chile, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Chile, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Chile with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The measures implemented by the Chilean government to contain the spread of COVID-19, together with the weakening world economic growth, have impacted the local economy. A contraction of 8.5% of the country's GDP during 2020 was expected to recover during 2021 with a GDP growth of 4.4%. The economy in 2019 had shown growth of only 1%, adversely affected by massive civil unrest and countrywide protests, known locally as the Social Outbreak (Estallido Social). These, arising from general dissatisfaction with the Pinera administration but sparked primarily by increases in metro prices on 6 October ....
This is a brief extract of information; more updated information may be available in the latest published report
