Insurers to complete credit card survey Aug.

Bnamericas Published: Saturday, May 31, 2003
Around 11 Chilean insurance companies are expected to complete a credit card market study in August designed to determine the economic viability of an entry into the local plastic card market, local daily La Segunda reported. Securities and insurance regulator, the SVS, last year authorized insurers to issue credit cards. "The study is advancing as planned but every step has to be meticulous although we still expect to reach our conclusions by August," said Juan Luis Kostner, executive director of Gemines Management Consultancy, the firm charged with coordinating the survey. The survey has concentrated on the commercial and operational viability of the proposed entry into the local credit card segment, Kostner said, adding that the question of whether the insurers will enter the market independently or through local card administrator Transbank is yet to be resolved. Insurers are hesitant to form an alliance with Transbank, which is controlled by local banks, because they fear the card administrator could become a major competitor in the future. On the commercial side, credit card use in Chile is relatively low which in theory reflects a sufficient margin for market growth, he added. The 11 local insurers awaiting the study's results include: Consorcio, Cruz del Sur, Mapfre, Las Americas, Ohio, Principal, La Construccion, Magallanes and Continental.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects

Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.

  • Project: Juanicipio
  • Current stage: Blurred
  • Updated: 2 days ago
  • Project: El Tigre
  • Current stage: Blurred
  • Updated: 2 days ago

Other companies

Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.

  • Company: Inkia Energy SpA  (Inkia Energy Chile)
  • Inkia Energy Chile is the local subsidiary of Peruvian firm Inkia Energy Inc., which acquires, develops, and operates power generation and distribution projects. Inkia Energy Ch...
  • Company: Ritz Instrument Transformers GmbH  (RITZ)
  • RITZ is one of the world´s leading specialists for Instrument Transformers: Low and medium voltage insulated with epoxy resin, high voltage transformers insulated with oil/paper...
  • Company: BofA Securities, Inc.  (BofA Securities)
  • BofA Securities, Inc., formerly Bank of America Merrill Lynch, is the global banking and global markets business division of Bank of America Corp. It was incorporated in 2013 af...
  • Company: S&P Global Platts
  • Platts, subsidiary of S&P Global, is a company providing international market information relative to oil & gas, petrochemical, metals, agriculture, and maritime transport secto...
  • Company: Entel Perú S.A.  (Entel Perú)
  • Entel Perú S.A. provides mobile telephony solutions in Peru since its incorporation as Nextel del Perú S.A. in 1988. Based in Lima, Entel Perú operates as a subsidiary of the Ch...