October 12, 2022 - The Financial Market Commission (CMF) released today its Financial Report of the Insurance Market as of the second quarter of 2022.
Over the first half of the year, insurance companies posted sales for USD 5,579 million, a real increase of 22 percent versus the first half of 2021. Meanwhile, profits reached USD 841 million for an increase of 11.8 percent in that span.
The investment portfolios of both life and general insurance companies were mainly composed of domestic fixed-income instruments - 55 and 77.7 percent, respectively.
At the end of June 2022, life insurance market sales increased 26.4 percent compared to the first half of 2021, amounting to USD 3,448 million. General insurance market sales rose by 15.6 percent versus the first two quarters of last year for a total of USD 2,131 million.
Regarding results, the life insurance market recorded USD 763.6 million in profits, an increase of 17.3 percent versus the first half of last year due to better contribution margins and despite lower investment results. General insurance companies, however, saw their profits decline by 23.4 percent to USD 77.5 million because of lower contribution margins and higher claim costs.
