Chile life insurance

Underwriting losses offset by steady growth in premium income

The results for Chilean insurance companies for the first half of 2001, published by the Superintendency of Securities and Insurance on 31 July, showed good progress in both premiums and earnings, a trend already visible during the first quarter of this year. Total insurance premiums increased by 9.3 % to US$1.28bn. The life sector accounted for 74% of this figure. Claims and benefits paid out amounted to US$831mn, up 24.8% on the same period last year. The increase in overall claims paid was entirely due to a rise in claims levels in the life sector. Non-life claims levels were down by 0.8 %.