The Chilean unit of French commercial insurer Coface expects profits to grow 30 per cent this year, company executive Louis des Cars said at a press conference this week.
Des Cars explained that this year earnings should come in at between pesos150m (US$235,000) and pesos200m (US$300,000). That figure could be even higher depending on the performance of the company's investment portfolio, he said.
This year, the Coface unit expects to sell US$6m in premiums with a risk coverage of US$700m, des Cars said.
Coface's client base is divided between small- and medium-sized businesses (70 per cent) and large enterprises (30 per cent). The insurer maintains a business relationship with bank groups Banco BCI, Banco de Chile and Santander Chile, he added.
Insurance represents 90 per cent of the Coface Chile’s revenues, while the remaining 10 per cent comes from consultancy and commercial information.
