Executive summary

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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

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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.

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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

Table of contents

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Chilean Insurance Industry Attractiveness
3.1 Insurance Industry Segment Size, 2007–2016
3.2 Reinsurance Growth Dynamics and Challenges
3.2.1 Reinsurance segment size, 2007–2016
3.2.2 Reinsurance segment size by type of insurance, 2007–2016
4 Key Industry Trends and Drivers
4.1 Fundamental Business Drivers
4.2 Life Insurance Segment Drivers
4.3 Non-Life Insurance Segment Drivers
4.4 Personal Accident and Health Insurance Segment Drivers
4.5 Recent Segment Developments
5 Competitive Landscape and Strategic Insights
5.1 Overview
5.2 Leading Companies in the Chilean Reinsurance Segment
5.3 Caja Reaseguradora de Chile SA – Company Overview
5.3.1 Caja Reaseguradora de Chile SA – Key facts
5.4 MetLife Chile Reaseguros – Company Overview
5.4.1 MetLife Chile Reaseguros – key facts
5.5 Munich Re America – Company Overview
5.5.1 Munich Re America – Key facts
6 Business Environment and Country Risk
6.1 Business Confidence
6.1.1 Segment capitalization trend – Santiago Stock Exchange (SSE), Chile
6.2 Economic Performance
6.2.1 GDP at constant prices (US dollar)
6.2.2 GDP per capita at constant prices (US dollar)
6.2.3 GDP at current prices (US dollar)
6.2.4 GDP per capita at current prices (US dollar)
6.2.5 GDP by key segments
6.2.6 Agricultural net output at current prices (CLP)
6.2.7 Agricultural net output at current prices (US dollar)
6.2.8 Agricultural net output at current prices as a percentage of GDP
6.2.9 Manufacturing net output at current prices (CLP)
6.2.10 Manufacturing net output at current prices (US dollar)
6.2.11 Manufacturing net output at current prices as a percentage of GDP
6.2.12 Mining, manufacturing and utilities net output at current prices (CLP)
6.2.13 Mining, manufacturing and utilities at current prices (US dollar)
6.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP
6.2.15 Construction net output at current prices (CLP)
6.2.16 Construction net output at current prices, (US dollar)
6.2.17 Construction net output at current prices as a percentage of GDP
6.2.18 Inflation rate
6.2.19 Current account balance as a percentage of GDP
6.2.20 Exports as a percentage of GDP
6.2.21 Imports as a percentage of GDP
6.2.22 Exports growth
6.2.23 Imports growth
6.2.24 Annual average exchange rate US$–CLP
6.2.25 End-of-period exchange rate US$–CLP
6.3 Infrastructure Quality and Availability
6.3.1 Total airports and sea ports
6.3.2 Railways and roadways
6.3.3 Vehicle production volume
6.3.4 Automotive component exports trend
6.3.5 Automotive component imports trend
6.3.6 Passenger car penetration
6.3.7 Healthcare expenditure
6.3.8 Healthcare expenditure as a percentage of GDP
6.3.9 Healthcare expenditure per capita
6.3.10 Total internet subscribers
6.4 Labor Force
6.4.1 Labor force
6.4.2 Unemployment rate
6.5 Demographics
6.5.1 Annual disposable income
6.5.2 Annual per capita disposable income
6.5.3 Total population
6.5.4 Urban and rural population
6.5.5 Females as a percentage of the total population
6.5.6 Males as a percentage of the total population
6.5.7 Mean age of the population
6.5.8 Median age of population
6.5.9 Population density
6.5.10 Age distribution of the total population
6.5.11 Age distribution of the male population
6.5.12 Age distribution of the female population
6.5.13 Number of households
6.6 Political and Social Risk
6.6.1 Political stability
6.6.2 Terrorism index
6.6.3 Transparency index
7 Appendix
7.1 Methodology
7.2 Contact Us
7.3 About Timetric
7.4 Disclaimer

List of tables

Table 1: Insurance Industry Definitions
Table 2: Chilean Insurance Overall Written Premium by Segment (CLP Billion), 2007–2011
Table 3: Chilean Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: Chilean Insurance Overall Written Premium by Segment (CLP Billion), 2011–2016
Table 5: Chilean Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: Chilean Insurance Segmentation (% Share), 2007–2016
Table 7: Chilean Reinsurance Segment by Category (CLP Billion), 2007–2011
Table 8: Chilean Reinsurance Segment by Category (US$ Billion), 2007–2011
Table 9: Chilean Reinsurance Segment by Category (CLP Billion), 2011–2016
Table 10: Chilean Reinsurance Segment by Category (US$ Billion), 2011–2016
Table 11: Premium Ceded to Reinsurance by Type of Insurance (CLP Billion), 2007–2011
Table 12: Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2007–2011
Table 13: Premium Ceded to Reinsurance by Type of Insurance (CLP Billion), 2011–2016
Table 14: Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2011–2016
Table 15: Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 16: Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 17: Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Table 18: Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Table 19: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 20: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 21: Leading Reinsurance companies in the Chilean Reinsurance Segment
Table 22: Caja Reaseguradora de Chile SA, Key Facts
Table 23: MetLife Chile Reaseguros, Key Facts
Table 24: Munich Re America, Key Facts

List of figures

Figure 1: Chilean Insurance Overall Written Premium by Segment (CLP Billion), 2007–2016
Figure 2: Chilean Insurance Dynamics by Segment, 2007–2016
Figure 3: Premium Ceded to Reinsurance by Category (CLP Billion), 2007–2016
Figure 4: Premium Ceded to Reinsurance by Category (% Share), 2011 and 2016
Figure 5: Reinsurance Segment Dynamics by Category, 2007–2016
Figure 6: Premium Ceded to Reinsurance by Type of Insurance (CLP Billion), 2007–2016
Figure 7: Reinsurance Segment Dynamics by Type of Insurance, 2007–2016
Figure 8: Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 9: Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 10: Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Figure 11: Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Figure 12: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 13: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 14: Santiago Stock Exchange (SSE) Segment Capitalization (US$ Billion), 2007–2011
Figure 15: Chilean GDP at Constant Prices (US$ Billion), 2007–2011
Figure 16: Chilean GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 17: Chilean GDP at Current Prices (US$ Billion), 2007–2011
Figure 18: Chile GDP Per Capita at Current Prices (US$), 2007–2011
Figure 19: Chile GDP by Key Segments (%) 2009 and 2011
Figure 20: Chilean Agricultural Net Output at Current Prices (CLP Billion), 2007–2011
Figure 21: Chile Agricultural Net Output at Current Prices (US$ Billion), 2007–2011
Figure 22: Chilean Agricultural Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 23: Chilean Manufacturing Net Output at Current Prices (CLP Billion), 2007–2011
Figure 24: Chilean Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 25: Chilean Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 26: Chilean Mining, Manufacturing and Utilities Net Output at Current Prices (CLP Billion), 2007–2011
Figure 27: Chile Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2011
Figure 28: Chilean Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 29: Chilean Construction Net Output at Current Prices (CLP Billion), 2007–2011
Figure 30: Chilean Construction Net Output at Current Prices (US$ Billion), 2007–2011
Figure 31: Chile Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 32: Chilean Inflation Rate (%), 2007–2011
Figure 33: Chilean Current Account Balance as a Percentage of GDP(%), 2007–2011
Figure 34: Chilean Exports as a Percentage of GDP (%), 2007–2011
Figure 35: Chilean Imports as a Percentage of GDP (%), 2007–2011
Figure 36: Chilean Exports Growth (%), 2007–2011
Figure 37: Chilean Imports Growth (%), 2007–2011
Figure 38: Chilean Annual Average Exchange Rate US$–CLP, 2007–2011
Figure 39: Chilean End-of-Period Exchange Rate US$–CLP, 2007–2011
Figure 40: Chilean Airports and Sea Ports (Number), 2011
Figure 41: Chilean Railways and Roadways (Kilometers), 2011
Figure 42: Chilean Vehicle Production, 2007–2011
Figure 43: Chilean Automotive Component Exports (US$ Million), 2007–2011
Figure 44: Chilean Automotive Component Imports (US$ Million), 2007–2011
Figure 45: Chilean Passenger Car Penetration (Per Thousand People), 2007–2011
Figure 46: Chilean Healthcare Expenditure (US$ Billion), 2007–2011
Figure 47: Chilean Healthcare Expenditure as a Percentage of GDP (%), 2007–2011
Figure 48: Chilean Per Capita Healthcare Expenditure (US$), 2007–2011
Figure 49: Chilean Internet Subscriptions (Million), 2007–2011
Figure 50: Chilean Size of Labor Force in 15–59 Age Group (Million), 2007–2011
Figure 51: Chilean Unemployment Rate (%), 2007–2011
Figure 52: Chilean Annual Disposable Income (US$ Billion), 2007–2011
Figure 53: Chilean Annual Per Capita Disposable Income (US$), 2007–2011
Figure 54: Chilean Total Population (Million), 2007–2011
Figure 55: Chilean Urban and Rural Population (%), 2007–2011
Figure 56: Chilean Females as a Percentage of the Total Population (%), 2007–2011
Figure 57: Chilean Males as a Percentage of the Total Population (%), 2007–2011
Figure 58: Mean Age of Chilean Population, 2007–2011
Figure 59: Median Age of Chilean Population, 2007–2011
Figure 60: Chilean Population Density (per Square Kilometer), 2007–2011
Figure 61: Chilean Population Distribution by Age (%), 2007–2011
Figure 62: Chilean Male Population Distribution by Age (%), 2007–2011
Figure 63: Chilean Female Population Distribution by Age (%), 2007–2011
Figure 64: Chilean Households, Number of (Million), 2007–2011
Figure 65: Global Terrorism Heat Map, 2011
Figure 66: Chilean Transparency Index, 2007–2011