Chilean market News

Chile Completes $630M Earthquake Insurance Deal With World Bank

Chile has agreed to an earthquake insurance program with the World Bank protecting it from $630 million worth of damage from strong earthquakes, in an effort to shore up risks to public debt from possible natural disasters. The insurance will …

Chile Finalizes Major Earthquake Insurance With World Bank

Chile is finalizing a deal with the World Bank for insurance against high-intensity earthquakes that would impact the country’s fiscal policy and public debt, the Finance Ministry said on Thursday. “The insurance would allow Chile to receive pre-established compensation payments, …

Chilean State Sues Mining Companies, Alleging Environmental Damage

Chile is suing mines operated by BHP, Antofagasta and Albemarle over alleged environmental damage caused by their operations in the northern Salar de Atacama salt flats, a court said late on Thursday. The State Defense Council (CDE) launched its legal …

Chile Insurtech Startup Betterfly Plans Overseas Expansion After $125M Funding Round

Chilean insurance-tech startup Betterfly plans to expand overseas after its latest funding round swelled its valuation to $1 billion. The company is preparing to begin operations in seven new markets in 2022 — Mexico, Colombia, Argentina, Peru, Ecuador, Panama and …

Chubb and Chile Insurtech Betterfly Form Partnership for LatAm Offering

Chubb Ltd. is joining with insurance-tech startup Betterfly for offerings in Mexico, Colombia, Ecuador, Chile and Argentina as the companies seek to tap into under-served Latin American markets. The partnership will focus on reaching 100 million people by 2025 and …

H.W. Kaufman Group Acquires Chile-Based Prospect Brokers

U.S.-based specialty insurance corporation H.W. Kaufman Group announced its expansion into South America through the acquisition of Prospect Brokers Chile, based in Santiago, Chile. Financial details of the deal were not disclosed. As a result of the acquisition, Prospect Brokers …

UK Broker Price Forbes Acquires 100% Stake of Chile Business

Price Forbes, a London-based insurance broker, announced it has increased its shareholding in Price Forbes Chile to 100% as part of its commitment to invest in growing its presence in Latin America. Price Forbes has grown substantially in Chile since …

BHP to Spend Up to $93M for Environmental Repairs, Reparations in Chile

SANTIAGO – Mining group BHP will spend up to $93 million in environmental repairs and reparations after a Chilean court brokered an agreement in a lawsuit from the state over water use and related damage to a sensitive salt flat …

Chile’s Environment Regulator Files Charges Against Codelco for Mining Waste Pollution

Chile’s environmental regulator on Thursday said it had filed charges against state mining company Codelco over a 2016 tailings spill and river and estuary contamination at its Andina mine in a mountainous region near the capital Santiago. The Environmental Superintendent …

BMS Signs Long-Term Partnership Agreement with Chilean Broker Insurex Re

BMS Group, the London-based specialist re/insurance broker, announce it has signed a preferred partner agreement with the independent Chilean reinsurance broker and existing trading partner Insurex Re, a company owned by Insurex Group. A long-term business plan has been agreed …