May 16, 2022 - The Financial Market Commission (CMF) released today its Financial Report of the Insurance Market as of the fourth quarter of fiscal year 2021.
Insurance companies recorded USD 10.3 billion in sales last year, a real increase of 3.7 percent compared to 2020. Meanwhile, profits reached USD 1.33 billion for an increase of 46.9 percent in the same span.
The investment portfolios of both life and general insurance companies were mainly composed of domestic fixed-income instruments - 54.4 and 76.1 percent, respectively.
At the end of fiscal year 2021, life insurance market sales declined by 0.3 percent compared to 2020, amounting to USD 5,931 million. General insurance market sales, however, grew 9.6 percent in that during 2021 for a total of USD 4,369 million.
Regarding results, the life insurance market posted annual profits of USD 1,152.8 million, 58.3 percent more than fiscal year 2020, due to better investment results and improved equity market performance both at home and abroad. General insurance companies posted USD 177.1 million in profits, a variation of 0.1 percent.
