Chile’s insurers’ earnings surge by 87% to $489mn in 2006

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The Chilean insurance market, considered the most sophisticated in Latin America, and where the per capita expenditure on premiums is the highest, ended 2006 with a substantial increase in earnings, which rose by nearly 87% to US$489mn. This was despite the rather modest improvement in premium revenue, which went up barely 6% to $4.7bn, though the good performance of Chilean and international stock markets helped boost investment revenue. In accordance to Chilean accounting practice, all percentage variations are expressed in real terms. Inflation last year was 2.6%.