Market Research Reports - Ken Research Chile Non- Life Insurance Market Research

Chile Non- Life Insurance Market Research Report to 2021: Ken Research
The report titled “Non-Life Insurance in Chile, Key Trends and Opportunities to 2021”provides
a comprehensive analysis of non-life insurance market in Chile. This report covers non-life
insurance investments, types of non-life insurance, market for non-life insurance, growth in
reinsurance, leading distribution channel for non-life insurance, and future growth of non-
insurances market in health and accident sector.
Industry Overview: The non-life insurance investments in Chile are government securities,
corporate bonds, investment funds, cash in bank or hand, other investments and total
investment income. The evolution in the non-life insurance industry dynamics has made
insurers to focus on cost-control measures, to enhance professional standards for insurance
advisers and brokers, to regulate commissions earned and fees paid by financial professionals
which are all likely to have a positive effect over the coming years. The major distributors in the
non-life insurance market are direct marketing and bank assurance. The non-life insurance
market mainly comprises of property insurance, fire and allied perils insurance, engineering
insurance, motor insurance includes motor hull insurance, motor third party insurance and
general third party insurance and marine, aviation and transit insurance consists marine
insurance, marine hull insurance, marine third party insurance and aviation insurance and
transit insurance. The non-life insurance market is primarily split into motor insurance, health
insurance, travel insurance, home insurance and marine insurance.
Non-life insurance market in Chile has witnessed a steady growth with the increase in the level
of reinsurance. It was observed that the influence of reinsurance and other financial variables in
non-life insurance has impacted the growth of consumers across insurance business.
Reinsurance is an important strategic function in insurance market which impacts the
competitive insurance market. Leverage is another important factor affecting the product-
market share at the aggregate business level of the insurance firm.
Chile’s non-life insurance sector's outlook is stable despite persistence of the country's limited
economic performance in the recent years which an indication of maturity and operational
flexibility of the non-life insurance industry. The slow performance of the Chilean economy and
its effect on the private investment and private consumption has affected the growth in the
non-life insurance products in Chile.
The country’s solid reinsurance structure is a pillar to the soundness and stability of non-
insurance industry, justifying severity risks or catastrophic events. The penetration of the non-
life insurance is at a minimum and Chile non-life insurance market is the fifth-largest in the
South American region. The property insurance is the largest category, in terms of gross written