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March 26, 2015 4:15 PM ET

Insurance

Company Overview of Compañía de Seguros CorpVida S.A.

Company Overview

Compañía de Seguros CorpVida S.A. offers life insurance solutions. The company also provides annuity and mortgageservices. The company was formerly known as Compañía de Seguros Vida Corp S.A. and changed its name to Compañía de Seguros CorpVida S.A. in October 2007. The company was incorporated in 1989 and is based in Santiago, Chile. Compañía de Seguros CorpVida S.A. operates as a subsidiary of CorpBanca.

Rosario Norte 660

Piso 21

Las Condes

Santiago,  

Chile

Founded in 1989

Phone:

56 2 660 3000

Fax:

56 2 660 3189

Key Executives for Compañía de Seguros CorpVida S.A.

Chief Executive Officer
Compensation as of Fiscal Year 2014.

Compañía de Seguros CorpVida S.A. Key Developments

Corpvida S.A. Announces Earnings Results for the Third Quarter and Nine Months of 2014

Corpvida S.A. announced earnings results for the third quarter and nine months of 2014. For the quarter, premium income was USD 100,340,000 against USD 112,986,000 a year ago. Result of investments was USD 57,448,000 against USD 40,247,000 a year ago. Operating income was USD 16,089,000 against operating loss of USD 7,326,000 a year ago. Profit before tax was USD 13,268,000 against loss before tax of USD 9,086,000 a year ago. Profit was USD 12,152,000 against loss of USD 6,155,000 a year ago. For the nine months, premium income was USD 334,340,000 against USD 351,479,000 a year ago. Result of investments was USD 138,763,000 against USD 100,894,000 a year ago. Operating income was USD 5,868,000 against operating loss of USD 19,094,000 a year ago. Profit before tax was USD 1,891,000 against loss before tax of USD 20,067,000 a year ago. Profit to was USD 2,386,000 against loss of USD 16,519,000 a year ago.

CorpBanca Reportedly Seeks To Sell Chile Insurance Units

CorpBanca (SNSE:CORPBANCA) is seeking to sell off or find a partner for Compañía de Seguros CorpVida S.A. and CorpBanca Corredores de Seguros S.A, Diario Financiero said in a report. CorpBanca owner Álvaro Saieh has reportedly been speaking with potential buyers and partners for the past month, with negotiations "advancing," the report said, citing unnamed insurance executives. An estimated date of sale or partnership announcement was not revealed. Luksic Group was mentioned as a possible buyer.

Similar Private Companies By Industry

Company Name Region
Cooper Gay Chile S.A. Americas
FAF International Seguros Generales S.A. Americas
BCI Seguros de Vida S.A. Americas
BancoEstado Corredora de Seguros S.A. Americas
MetLife Chile Reaseguros de Vida S.A. Americas

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 29, 2014
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