Chilean market News

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 …

Chubb Forms 15-Year Distribution Agreement with Chile’s Largest Bank

Chubb Ltd. is boosting its presence and digital capabilities in Latin America by way of a 15-year distribution agreement with Banco de Chile, the largest bank based in Chile. “This partnership will meaningfully increase Chubb’s already significant presence in Chile …

UnitedHealth to Acquire Banmedica in Chile for $2.8B

UnitedHealth Group Inc said on Friday [Dec. 22] it signed a definitive agreement to buy Chilean healthcare company Banmedica SA for $2.8 billion, expanding the health insurer’s footprint in South America. Banmedica operates health insurance, clinics and other services. UnitedHealth …

QBE Chile Completes Management Buyout; Rebrands as ‘Unnio’

QBE Chile Seguros Generales S.A. has completed a management buyout by purchasing the company in May 2017 from QBE Latin America Insurance Holdings. Financial details of the transaction were not disclosed. Following the completion of the deal, QBE Chile rebranded …

Chile-Based Broker Lilienfeld Names Rossi as CEO, Succeeding Lilienfeld

Lilienfeld Corredores de Seguros has named Claudio Rossi as its next chief executive officer. He succeeds Renato Lilienfeld, who has been CEO since 1986. Lilienfeld will continue as chairman, working closely with Rossi to continue positioning the company as a …

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 …

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 …