Chilena Consolidada becomes the second insurance company to trigger dispute settlement mechanism with Chile in just five weeks

Chilena Consolidada Seguros de Vida S.A. (hereinafter “Chilena Consolidada”) has become the second company in the life insurance sector to formally initiate a dispute resolution procedure, as a result of the recently enacted Act No. 21.330, which has allegedly created great uncertainty in the insurance market, and more specifically, among the companies that provide life annuity services.