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Published: Mar, 2017 | Pages:
117 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis
Timetric's 'Life Insurance in Chile, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Chilean life insurance segment, and a comparison of the Chilean insurance industry with its regional counterparts. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Chilean economy and demographics, and provides detailed information on the competitive landscape in the country. The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Summary
Timetric's 'Life Insurance in Chile, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Chilean life insurance segment, including: • An overview of the Chilean life insurance segment • The Chilean life insurance segment's growth prospects by category • A comprehensive overview of the Chilean economy and demographics • A comparison of the Chilean life insurance segment with its regional counterparts • The various distribution channels in the Chilean life insurance segment • Details of the competitive landscape in the life insurance segment in Chile • Details of regulatory policy applicable to the Chilean insurance industry
Scope
This report provides a comprehensive analysis of the life insurance segment in Chile: • It provides historical values for the Chilean life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period. • It offers a detailed analysis of the key categories in the Chilean life insurance segment, and market forecasts to 2020. • It provides a comparison of the Chilean life insurance segment with its regional counterparts • It analyzes the various distribution channels for life insurance products in Chile. • It profiles the top life insurance companies in Chile and outlines the key regulations affecting them.
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Chilean life insurance segment, and each category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in the Chilean life insurance segment. • Assess the competitive dynamics in the life insurance segment. • Identify 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
• Life insurance accounted for 60.2% of the Chilean insurance industry's gross written premium in 2015. • Rising life expectancy and expansion in the volume of the population aged 65 and above was a key driver of the life segment's review-period growth. • The life insurance segment was moderately consolidated, with the 10 leading companies accounting for 71.9% of the segment's total direct written premium in 2015. • Life insurance penetration is expected to increase from 2.6% in 2015 to 2.7% in 2020.
Table of Contents
1 Key Facts and Highlights 2 Executive Summary 3 Economy and Demographics 4 Segment Outlook 4.1 Regional Comparison 4.2 Segment Indicators 4.2.1 Gross written premium and penetration 4.2.2 Policies sold 4.2.3 Claims 4.2.4 Assets and investments 5 Outlook by Sub-Segment 5.1 Individual Life Insurance 5.1.1 Premium 5.1.2 Policies sold 5.1.3 Penetration 5.2 Group-Life Insurance 5.2.1 Premium 5.2.2 Policies sold 5.2.3 Penetration 6 Distribution Channel Outlook 7 Competitive Landscape 7.1 Company Profiles 7.1.1 Metlife Chile Seguros De Vida SA - company overview 7.1.2 Consorcio Nacional de Seguros SA - company overview 7.1.3 Seguros de Vida Sura SA - company overview 7.1.4 Bice Vida Compan�a de Seguros SA - company overview 7.1.5 Penta Vida Compan�a de Seguros de Vida SA - company overview 8 Governance, Risk and Compliance 8.1 Legislation Overview and Historical Evolution 8.2 Latest Changes in Regulation 8.3 Legislation and Market Practice by Type of Insurance 8.3.1 Life insurance 8.3.2 Property insurance 8.3.3 Motor insurance 8.3.4 Liability insurance 8.3.5 Marine, aviation and transit insurance 8.3.6 Personal accident and health insurance 8.4 Compulsory Insurance 8.4.1 Insurance for motor vehicles accidents 8.4.2 Pension insurance 8.4.3 Health insurance 8.4.4 Workmen's compensation insurance 8.4.5 Professional indemnity insurance for insurance and reinsurance brokers and loss adjusters 8.4.6 Liability for ships with respect to oil pollution 8.5 Supervision and Control 8.5.1 International Association of Insurance Supervisors 8.5.2 Association of Insurance Supervisors Latin America 8.5.3 Superintendent of Security Markets and Insurance Companies 8.5.4 Insurance Association of Chile 8.6 Non-Admitted Insurance Regulations 8.6.1 Overview 8.6.2 Intermediaries 8.6.3 Market practices 8.6.4 Fines and penalties 8.7 Company Registration and Operations 8.7.1 Type of insurance organization 8.7.2 Establishing a local company 8.7.3 Foreign ownership 8.7.4 Types of license 8.7.5 Capital requirements 8.7.6 Solvency margin 8.7.7 Reserve requirements 8.7.8 Investment regulations 8.7.9 Statutory return requirements 8.7.10 Fee structure 8.8 Taxation 8.8.1 Insurance premium or policy taxations 8.8.2 Withholding taxes on premium paid overseas. 8.8.3 Corporate tax 8.8.4 VAT 8.8.5 Captives 8.9 Legal System 8.9.1 Introduction 8.9.2 Access to court 8.9.3 Alternative dispute resolution 9 Databook 9.1 Policies and Premium 9.2 Claims and Expenses 9.3 Assets and Investments 9.4 Individual Life Insurance 9.5 Individual Life Insurance by Product 9.6 Group-Life Insurance 9.7 Group-Life Insurance by Product 9.8 Linked vs. Non-Linked Policies 10 Definitions and Methodology 10.1 Definitions 10.2 Methodology 11 About Timetric 11.1 Contact Timetric 11.2 About Timetric 11.3 Timetric's Services 11.4 Disclaimer
List of Tables
Table 1: Chilean Life Insurance - Key Facts, 2015 Table 2: Chilean Life Insurance - Segment Shares of the Top Insurers, 2015 Table 3: Chilean Government Credit Ratings Table 4: Chilean Life Insurance - Gross Written Premium (CLP Trillion and US$ Billion), 2011-2015 Table 5: Chilean Life Insurance - Penetration (%), 2011-2015 Table 6: Chilean Life Insurance - Gross Written Premium (CLP Trillion and US$ Billion), 2015-2020 Table 7: Chilean Life Insurance - Penetration (%), 2015-2020 Table 8: Chilean Life Insurance - New Business Direct Written Premium (CLP Billion and US$ Million), 2011-2015 Table 9: Chilean Life Insurance - New Business Direct Written Premium (CLP Billion and US$ Million), 2015-2020 Table 10: Chilean Life Insurance - Premium per Capita (CLP and US$), 2011-2015 Table 11: Chilean Life Insurance - Premium per Capita (CLP and US$), 2015-2020 Table 12: Chilean Life Insurance - Number of Policies Sold (Million), 2011-2015 Table 13: Chilean Life Insurance - Number of Policies Sold (Million), 2015-2020 Table 14: Chilean Life Insurance - Paid Claims (CLP Trillion and US$ Billion), 2011-2015 Table 15: Chilean Life Insurance - Paid Claims (CLP Trillion and US$ Billion), 2015-2020 Table 16: Chilean Life Insurance - Total Assets (CLP Trillion and US$ Billion), 2011-2015 Table 17: Chilean Life Insurance - Total Assets (CLP Trillion and US$ Billion), 2015-2020 Table 18: Chilean Life Insurance - Total Investment Income (CLP Billion and US$ Billion), 2011-2015 Table 19: Chilean Life Insurance - Total Investment Income (CLP Billion and US$ Billion), 2015-2020 Table 20: Chilean Life Insurance - Investment Portfolio (CLP Billion), 2011-2015 Table 21: Chilean Life Insurance - Investment Portfolio (CLP Billion), 2015-2020 Table 22: Chilean Life Insurance - Direct Written Premium by Sub-Segment (CLP Billion), 2011-2015 Table 23: Chilean Life Insurance - Direct Written Premium by Sub-Segment (CLP Billion), 2015-2020 Table 24: Chilean Individual Life Insurance - Direct Written Premium by Category (CLP Billion), 2011-2015 Table 25: Chilean Individual Life Insurance - Direct Written Premium by Category (CLP Billion), 2015-2020 Table 26: Chilean Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015 Table 27: Chilean Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020 Table 28: Chilean Group-Life Insurance - Direct Written Premium by Category (CLP Billion), 2011-2015 Table 29: Chilean Group- Life Insurance - Direct Written Premium by Category (CLP Billion), 2015-2020 Table 30: Chilean Group- Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015 Table 31: Chilean Group- Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020 Table 32: Chilean Life Segment - Market Shares of Leading Insurers (%), 2015 Table 33: Metlife Chile Seguros De Vida SA - Key Facts Table 34: Metlife Chile Seguros De Vida SA - Key Financials (US$ Billion), 2011-2015 Table 35: Consorcio Nacional de Seguros SA - Key Facts Table 36: Consorcio Nacional de Seguros SA - Key Financials (US$ Billion), 2011-2015 Table 37: Seguros de Vida Sura SA - Key Facts Table 38: Seguros de Vida Sura SA - Key Financials (US$ Billion), 2011-2015 Table 39: Bice Vida Compan�a de Seguros SA - Key Facts Table 40: Bice Vida Compan�a de Seguros SA - Key Financials (US$ Million), 2011-2015 Table 41: Penta Vida Compan�a de Seguros de Vida SA - Key Facts Table 42: Penta Vida Compan�a de Seguros de Vida SA - Key Financials (US$ Billion), 2011-2015 Table 43: Chile - Insurance Regulatory Framework Key Features Table 44: Chile - Life Insurance Regulatory Framework Table 45: Chile - Property Insurance Regulatory Framework Table 46: Chile - Motor Insurance Regulatory Framework Table 47: Chile - Liability Insurance Regulatory Framework Table 48: Chile - Factors Used for Solvency Margin Calculation Table 49: Chile - Corporate Tax Rates for the Financial Year 2016 Table 50: Chilean Life Insurance - Policies and Premium, 2011-2015 Table 51: Chilean Life Insurance - Policies and Premium, 2015-2020 Table 52: Chilean Life Insurance - Claims and Expenses, 2011-2015 Table 53: Chilean Life Insurance - Claims and Expenses, 2015-2020 Table 54: Chilean Life Insurance - Assets and Investments, 2011-2015 Table 55: Chilean Life Insurance - Assets and Investments, 2015-2020 Table 56: Chilean Life Insurance - Individual Life Insurance, 2011-2015 Table 57: Chilean Life Insurance - Individual Life Insurance, 2015-2020 Table 58: Chilean Life Insurance - Individual Life Insurance by Product, 2011-2015 Table 59: Chilean Life Insurance - Individual Life Insurance by Product, 2015-2020 Table 60: Chilean Life Insurance - Group-Life Insurance, 2011-2015 Table 61: Chilean Life Insurance - Group- Life Insurance, 2015-2020 Table 62: Chilean Life Insurance - Group- Life Insurance by Product, 2011-2015 Table 63: Chilean Life Insurance - Group- Life Insurance by Product, 2015-2020 Table 64: Chilean Life Insurance - Linked vs. Non-Linked Policies, 2011-2015 Table 65: Chilean Life Insurance - Linked vs. Non-Linked Policies, 2015-2020 Table 66: Insurance Industry Definitions
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