• Between January and March 2020, insurance companies recorded sales of USD 2,472 million, a decrease in real terms of 10.2 percent compared to the same period in 2019.
• Profits reached USD 20 million; a drop of 85.5 percent compared to the first quarter of last year.

June 25, 2020 - The Financial Market Commission (CMF) released today the Financial Report of the Insurance Market as of the 2020 first quarter.

The insurance market recorded sales of USD 2,472 million between January and March 2020. This represents a decrease in real terms of 10.2 percent compared to the same period in 2019. Profits reached USD 20 million; a drop of 8.5 percent compared to the first quarter of last year.

The investment portfolios of both life and general insurance companies consisted mainly of domestic fixed-income instruments, at 55.9 and 71.4 percent respectively.

At the end of the 2020 first quarter, sales in the life insurance market decreased in real terms by 13 percent compared to the same period in 2019, totaling USD 1,663 million. Life insurance market sales also fell by 3.8 percent in that span to USD 809 million.

Regarding results, the life insurance market recorded profits of USD 459 million, a decrease in real terms of 99.6 percent versus the January-March period in 2019. A fall in investment results explains this drop. Meanwhile, general insurance companies informed profits of USD 19.1 million, an actual increase of 23.7 percent in the same span. Results outside the contribution margin explain this rise.

The Financial Report of the Insurance Market as of the fourth quarter of 2019 is available on the CMF website.