The Chile Financial Market Commission published its Financial Report of the Insurance Market as of the fourth quarter of 2024, reporting full-year insurance sales of USD 14,276.8 million, a real increase of 2.4 percent versus 2023, and industry profits of USD 1,064.1 million, up 0.4 percent in real terms. Life insurance sales rose 4.1 percent to USD 9,139 million, with pension insurance representing 65.5 percent of life sales and life annuities accounting for 46 percent of total premiums. General insurance sales declined 0.6 percent to USD 5,137.8 million, led by earthquake and tsunami (26.3 percent) and motor vehicles (26.2 percent) premium shares. Profits were USD 882.6 million for life insurers (down 0.7 percent), reflecting factors including higher variations in technical reserves and increased life annuity sales partly offset by lower claim costs and better investment products, while general insurers earned USD 241.5 million (up 4.3 percent) on higher contribution margin and lower claim costs. Investment portfolios remained concentrated in domestic fixed income instruments, representing 53.3 percent of life insurers’ portfolios and 75.5 percent for general insurers.

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