Chile News

Chile’s Health Insurers Pushed to Brink of Collapse as Courts Prevent Rate Hikes

Chile’s private health insurers have a peculiar problem. Every time they try to raise their premiums, thousands of their clients take them to court to stop the increase — and win. Their inability to raise fees is denting earnings, pushing …

Aon Benfield Chile Taps Soto Quintus as CEO, Molina as Treaty Head

Aon Benfield has appointed Martin Soto Quintus as chief executive officer of Aon Benfield Chile. Reporting to Alejandro Galizia, CEO of Aon Benfield Latin America, Soto Quintus is responsible for the development and implementation of the firm’s growth strategy in …

Liberty Mutual Completes Chile M&A; Cámbara Named CEO of Chile Operations

Liberty Mutual Insurance named Fernando Cámbara Lodigiani as CEO of its Chile operations following its acquisition of approximately 99.6 percent of Compañía de Seguros Generales Penta Security S.A. (Penta Security). Together with its existing company, Liberty Compañía de Seguros Generales …

Update: Quake off Chile Slams Waves into Coastal Towns; Death Toll Rises

Strong aftershocks rippled through Chile on Thursday after a magnitude 8.3 earthquake that killed at least eight people and slammed powerful waves into coastal towns, forcing more than a million people from their homes. The government ordered evacuations from coastal …

Liberty International to Expand Chilean Business with Purchase of Penta Security

Liberty International Holdings Inc., member of the Liberty Mutual Insurance Group, announced the expansion of its presence in Chile by agreeing to acquire an additional insurance company, Compañia de Seguros  Generales Penta Security S.A., the fourth largest non-life insurer in …

A.J. Gallagher Builds Retail Presence in Chile With Majority Stake in QRM

Arthur J. Gallagher, the international broking division of Arthur J. Gallagher & Co. outside of the United States, has expanded its retail presence in Chile by purchasing a majority shareholding in independent broker Quality Risk Management Corredores de Seguros S.A. …

Recent Quakes Push Interest, Sales of Policies in California

Some people don’t need Earth Day to be reminded they live on a planet powered by the forces of nature. The recent string earthquakes on the Pacific belt may have hit home with California homeowners, who were already a bit …

Tsunami Advisory In Effect for Hawaii from Chile Quake

U.S. officials say they’ve found no imminent threat of a tsunami along the coasts of Hawaii, Alaska, California, Oregon or Washington after a major earthquake near Chile. Paul Whitmore, the director of the National Weather Service’s West Coast and Alaska …

Four Latin American Nations Agree to Remove All Trade Tariffs

Mexico, Colombia, Peru and Chile said on Monday they had wrapped up negotiations to remove all trade tariffs between them, cementing a bloc that the four hope will encourage free trade between Latin America and the rest of the world. …

Euler Hermes and MAPFRE Form ‘Solunion’; a New Credit Insurance Venture

Euler Hermes and MAPFRE jointly announced the launch of “Solunion”- the brand name of their new credit insurance joint venture in Spain and four Latin American countries. Each partner owns 50 percent of the company, which is set to launch …