VGBL plans were responsible for most of the company's income.
At a convention of Afores in Mexico City, business and government leaders say the nation must find a way to increase the level of contributions paid by workers to guarantee desired pension benefits.
An alternative that proposes transforming the current solidarity pensions into social security to be funded by employees, employers and the state has won backing from Chilean lawmakers in the governing coalition.
Global reinsurers will increase the proportion in their portfolio of 'BBB' rated bonds as a way to improve declining returns on investments, according to rating agency S&P.
The change in our outlook reflects an at least a one-in-three possibility of a downgrade over the next 24 months if either the government's debt or interest burden deteriorates beyond current expectations, said S&P in a press release.
Chris McDowellhe will succeed Michael Harden, who is returning to the Asia Pacific region as president of Willis Re Asia Pacific, said Willis Tower Watson in a press release.
Capital Economics expects the country's recovery will be slow, but its GDP growth forecast for 2017 is still slightly above consensus at 1.5%.
Year-on-year GDP growth, however, is now put at 2.5% from the initial estimate of 2.4%.
The EU, in addition to being a market of 500mn people, represents an opportunity for Ecuador to benefit from technology transfer, higher investments, and to remain competitive with its neighbors Peru and Colombia.