New Research on Life Insurance Market in Chile 2018 by Industry Experts

on Tuesday, 25 November 2014 include new market research report " Life Insurance Market in Chile 2018: Market Size, Shares, Growth, Analysis, Trends And Forecast" to its huge collection of research reports.

Significant growth is projected for the segment by 2018, as a result of rising demand for pension and insurance products, and the introduction of reforms in education, pension and employment by the Chilean government. This report will allow anyone with a stake in the market to make strategic business decisions using detailed, in-depth analysis, along with historic and forecast industry data related to the Chilean insurance industry and each segment within it.

Chile’s total population in 2012 stood at 17 million, with 61% aged 20–64 years. As the majority of the country’s population is still productive, a large number of potential buyers for life insurance products exist in the country. The average life expectancy also rose from 77 years in 2008 to 78 years in 2012, which is another key growth driver for the life segment. Reforms encouraged female employment in the country by providing training for women. The rising working population, growing life expectancy and increasing female participation provide favorable demographics for the growth of life products over the forecast period.

Chile is one of the fastest-growing nations in Latin America, although insurance penetration is relatively low in comparison to other developed nations. Chilean life insurance penetration was over 2% in 2013, while France, Germany and the UK recorded penetration rates of 5%, over 3% and under 9% respectively, suggesting that the Chilean life segment holds huge potential for expansion, with large scope for foreign insurers to expand. Brazil-based lending company Grupo BTG Pactual SA, for example, is in the process of expanding by providing insurance services in the country. Life insurers are also expanding their distribution networks to explore the underlying potential in the underpenetrated Chilean life segment.  

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Other industries covered by this Publisher are:

  • Insurance
  • Personal accident and health insurance.  
  • Non life insurance.
  • Travel insurance.
  • Reinsurance. 

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