ResearchMoz.us include new market research report " Life and Non-Life Insurance Market in Chile to 2018: Industry Size, Shares, Growth, Analysis, Trends And Forecast" to its huge collection of research reports.
Life Insurance in Chile:-
Life insurance was the largest segment in the Chilean insurance industry in 2013, and contributed 58.1% of its total gross written premium. The country’s strong private pension system and tax benefits associated with general annuity products were the segment’s primary contributors of growth. Chile’s demographics include a large working-age population, rising employment opportunities and falling inflation, which supported the life segment’s growth during the review period (2009–2013).
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Significant growth opportunities are projected for the segment over the forecast period (2013–2018) as its large growth potential has yet to be fully explored by insurers. The penetration of life insurance in Chile is lower than in OECD countries such as France, Germany and the UK, offering potential for life insurers to gain market share by developing and providing innovative, cost-effective products over the forecast period. Other factors projected to influence the segment’s growth include middle-class population growth, rising demand for pension and insurance products, and the introduction of reforms in education, pension, employment etc. by the Chilean government in 2014.
Non-Life Insurance in Chile:-
Chilean GDP at constant prices posted a compound annual growth rate (CAGR) of 4.0% during 2008–2012. Insurance is one of the fastest-growing industries in Latin America, and the non-life segment’s gross written premium recorded a review-period (2009–2013) CAGR of 9.0%, and is relatively mature with the 10 leading companies collectively accounting for 85.5% of the segment’s gross written premium in 2013. Upcoming reforms in different economic sectors helped the segment’s growth during the review period, a trend that is projected to continue over the forecast period (2013–2018).
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Regulatory reforms, such as the adoption of a new accounting framework based on International Financial Reporting Standards (IFRS) in 2012 and an upcoming Solvency II-style capital framework due 2015 are expected to support the non-life segment’s development over the forecast period. Furthermore, economic growth, an increase in automobile sales, rising infrastructure developments and improving regulatory frameworks are expected to drive the segment to post a forecast-period CAGR of 7.8% to reach CLP2.7 trillion (US$5.3 billion) in 2018.
Scope:-
This report provides a comprehensive analysis of the life & non-life insurance segment in Chile:
- It provides historical values for Chile’s life & non-life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key categories in Chile’s life & non-life insurance segment, along with market forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life & non-life insurance products in Chile.
- It profiles the top life & non-life insurance companies in Chile and outlines the key regulations affecting them.
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Reasons to buy:-
- Make strategic business decisions using in-depth historic and forecast market data related to the Chilean life & non-life insurance segment and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Chilean life & non-life insurance segment.
- Assess the competitive dynamics in the life & non-life insurance segment.
- Identify the 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.
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