[November 21, 2014]

Research and Markets: Non-Life Insurance in Chile, Key Trends and Opportunities to 2018

Research and Markets (http://www.researchandmarkets.com/research/jrtxd5/nonlife) has announced the addition of the "Non-Life Insurance in Chile, Key Trends and Opportunities to 2018" report to their offering.

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. Furtermore, 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.

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.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Chilean Insurance Industry Attractiveness

4 Non-Life Insurance Outlook

5 Analysis by Distribution Channel

6 Porter's Five Forces Analysis - Chilean Non-Life Insurance

7 Reinsurance Growth Dynamics and Challenges

8 Governance, Risk and Compliance

9 Competitive Landscape and Strategic Insights

10 Business Environment and Country Risk

11 Appendix

Companies Mentioned

• RSA (News - Alert)
• Penta Security
• BCI
• Mapfre
• Liberty
• Aseguradora Magallanes
• BNP
• Ace
• Chilena Consolidada
• AIG

For more information visit http://www.researchandmarkets.com/research/jrtxd5/nonlife

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