Chilean insurers see sharp drop in their first half earnings

Despite an increase of 5.2 % in premium revenue, which reached the equivalent of US$1,265mn for the first six months of this year, and stable claim levels (down 1% at US$1,203mn), earnings in Chile’s insurance sector dropped sharply during the first semester. Total earnings for the market were down by 95.5% to just US$3.34mn, equivalent to a return on equity of only 0.01%.