Reinsurance in Chile, Key Trends and Opportunities to 2016

Synopsis

The report provides in depth market analysis, information and insights into the Chilean reinsurance market, including:

• The Chilean reinsurance market’s growth prospects by reinsurance categories
• The Chilean reinsurance market’s growth prospects by reinsurance ceded from direct insurance segments
• The competitive landscape in the Chilean reinsurance insurance market

Summary

Reinsurance plays a key role in the Chilean insurance industry, especially in terms of catastrophe exposures, as generally domestic insurers do not have the capital to mitigate these risks. Chile is the most seismically active country in the world with the highest frequency of earthquakes, which therefore increases the business potential for reinsurance companies. In February 2010, a large earthquake affected the central and southern regions of the country, which, in business terms, was considered one of the largest insurance losses ever registered outside of Europe and the US.

Scope

This report provides a comprehensive analysis of the reinsurance market in Chile:
• It provides historical values for the Chilean reinsurance market for the review period (2007–2011) and forecast period (2012–2016)
• It offers a detailed analysis of the key sub-segments in the Chilean reinsurance market, along with market forecasts until 2016
• It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in Chile and its growth prospects
• It profiles the top reinsurance companies in Chile

Reasons To Buy

• Make strategic business decisions using in depth historic and forecast market data related to the Chilean reinsurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Chilean reinsurance market
• Assess the competitive dynamics in the reinsurance market
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Chilean insurance market and its impact on companies and the market's future

Key Highlights

• The growth of Chile’s life, non-life, and personal accident and health insurance segments is expected to drive the reinsurance industry over the forecast period.
• The Chilean reinsurance industry is dominated by international reinsurance companies. This is because Chile opened up its reinsurance segment to foreign companies in 1980. Chile is the most seismically active country in the world and consequently registers the highest frequency of earthquakes, enlarging the business potential for reinsurance companies.
• Chile was affected by a major earthquake in February 2010, resulting in incurred losses for insurance companies. The incurred loss from the earthquake was estimated to be US$8.5 billion; however, 95% of the losses were covered by reinsurance companies.
• As of December 2010 there were 117 foreign reinsurers and one domestic reinsurer operating in Chile. The leading reinsurers include Munich Re, Swiss Re, Munich Re America, Caza Reseguradora, Metlife Chile Reseguros, and OHIO National Reseguros.