Fitch Publishes Chilean Nonlife Insurance Dashboard 2015
OREANDA-NEWS. Fitch Ratings has released the special report, 'Chilean Nonlife Insurance Dashboard 2015,' which summarizes the performance of the Chilean non-life insurance industry based on results at the end of fiscal 2015.
The report reflects the favorable growth trends demonstrated by the industry during 2015 compared with year-end 2014, which could be attributed to a more dynamic second half. In terms of gross written premium (GWP), the industry reached annual growth of 10.6%, highlighted by growth in the vehicles and property lines, business segments which jointly represent slightly more than 60% of the total industry's GWP. Fitch notes the positive trends in net losses and combined ratios, indices that still have ample room to improve and return to their historical ranges.
Fitch expects that positive performance trends exhibited during the year will remain during 2016, when tariff adjustments made in 2015 should have a positive impact on the industry's indicators and net results, driving them to within expected ranges for the business.