Fitch: Flood Losses in Northern Chile Unlikely to Impact Chilean Insurers' Ratings

April 14, 2015 7:44 PM

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(The following statement was released by the rating agency) SANTIAGO, April 14 (Fitch) Based on preliminary analysis, Fitch Ratings believes that insurance industry solvency will not be affected by the recent floods in northern Chile (second and third region).

The Chilean property/casualty insurance industry will adequately absorb the incurred claims and will result in a limited effect in 2015 fiscal year net income. The agency considers unlikely an impact on the insurers' solvency and ratings due to the limited effect in net loss ratios, which mainly wil...

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