Aggregated News From Investment Management Regulators

CMF releases Financial Report of the Insurance Market as of the third quarter of 2020

Report/Flag

Please complete the required fields.



  • Between January and September 2020, insurance companies recorded sales for USD 7,343 million, a real decrease of 16.9 percent compared to the same period in 2019.
  • Profits reached USD 550 million, which represents a real increase of 31.5 percent compared to the third quarter last year.

The Financial Market Commission (CMF) released today the Financial Report of the Insurance Market as of the third quarter of 2020. The insurance market recorded sales for USD 7,343 million between January and September 2020, a real decrease of 16.9 percent compared to the same period last year. Meanwhile, profits reached USD 550 million, a real increase of 31.5 percent compared to the third quarter of 2019.

Regarding the investment portfolios of both life and general insurance companies, they were mainly based on domestic fixed-income instruments, at 56.5 and 71.8 percent respectively.

At the closure of the third quarter of 2020, life insurance market sales decreased in real terms by 26.1 percent versus the same period in 2019, with amounts of USD 4,522 million. However, general insurance market sales increased by 4 percent during that same timeframe, totaling USD 2,821 million.

In terms of results, the life insurance market recorded USD 413 million in profits, a real increase of 28.6 percent compared to the Q1-Q3 period last year. General insurance companies posted profits of USD 137 million, representing a real increase of 40.8 percent versus the same span in 2019. An increase in the contribution margin, due to a lower variation in technical reserves and a lower cost of claims, is behind the growth for both types of companies.

This news item was originally published by the Commission for the Financial Market (CMF CL). For more information, please see the Source Link.

Regulator Information

Recent Articles

Sanctions Notice – Myanmar — GFSC

Please be advised that the following individuals and entities: Win Kyaw Kyaw Aung Zaw Min Tun Asia Sun Trading Company Limited Cargo Link Company Limited have been designated under the Myanmar (San

Sanctions Notice – ISIL (DA’ESH) and AL-QAIDA — GFSC

Please be advised that Islamic State in Iraq and the Levant in South-East Asia has been designated under the ISIL (Da’esh) and Al-Qaida (Sanctions) (EU Exit) Regulations 2019 (the UK regulati

SFDR data collection exercise for investment fund managers (IFMs) on regulatory requirements in relation to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial...

1. Context This Communiqué follows up on the CSSF communiqué published on 27 July 2022 announcing the intention of the CSSF to launch a data collection exercise...

EARNEASYMONEY

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

CVM accepts proposal for a term of commitment with the CEO of Clear Sale SA

This post was translated by Regulatory.News for informational purposes only; the content below is not an official translation from the regulator. See the content...

Get the latest from Regulatory.News in your inbox!

×