Profits double for life insurance sector in 2006

Premiums rose just 6% but profits rocketed, according to regulatory data • MetLife plans to expand operations in Chile

The Chilean Securities and Insurance Department (SVS) released its 2006 financial report on the insurance market. Life insurers had a profit of 250bn pesos (US$466mn), 92.41% more than in 2005. This increase causes an improvement in return indicators, showing increases in the return on policyholder surplus and on investments. Return on policyholder surplus went up from 10% in 2005 to 19.34% in 2006.