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Chile: Claims ratio in surety sector surged in 2013, says insurer

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Spanish credit insurer Compania Espanola de Seguros de Credito a la Exportacion S.A. has said the claims ratio in the Chilean surety sector jumped to 140% in 2013, compared to 52.8% in 2012, reports BNamericas.

CESCE's technical manager Marcelo Martínez told news firm Pulso that this can be attributed to an increase in the number of claims.

Mr. Martínez said an increase of 121% in the value of the claims to 2.2 million Unidad de Fomentos (around $96 million) also contributed to the jump, BNamericas reported.

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