The Legal 500

Boutique firm Acuña & Cia has the expertise and resources to handle the increasing demands of clients in an ever-more complex Chilean insurance market. Founding partner Alejandro Acuña is widely recognised as a leading practitioner in the sector. He heads a team of six experienced professionals, which draws upon its association with the English insurance firm Kennedys for referrals and mutual assistance in major business mandates worldwide. The firm acts primarily for large international insurance and reinsurance companies and brokers. It represented Zurich Chile, Seguros Generales Penta Security and Mapfre Seguros Generales in a complex $135m arbitration process against major electricity company Colbún. It is also counsel in the claim adjustment process between the Higueras hydroelectric plant, Chilena Consolidada Seguros Generales and Chartis over $120m damages claim. Nicolás Canales is also recommended.

Marcos Ríos and Pablo Iacobelli co-head the growing practice at Carey, which leverages its global corporate know-how in its insurance work and is recognised as a go-to firm for insurance-related transactions. While Iacobelli built his expertise advising insurance companies on the M&A side of the business, Ríos acquired his by representing the insured on damage negotiations. The firm’s list of clients is predominantly made up of large international insurers such as MetLife, Zurich, Euler Hermes and United Health Group, but also features some companies on the insured side, particularly on directors and officers liability cases and regulatory issues, including GlaxoSmithKline and Foster Wheeler. On the M&A side, the team advised MetLife Chile Seguros on its merger with La Interamericana Seguros de Vida, and acted for Zurich Financial Services on its acquisition of 51% of the insurance operations of Santander in Uruguay, Mexico, Brazil, Argentina and Chile. It also acted for ING on the Chilean leg of the sale of its Latin American life insurance and pension businesses to the Colombian holding company Grupo Sura. On the insured side, the team advised financial institution Coopeuch in connection with its D&O insurance policy.

The Estudio Carvallo continues to attract quality instructions despite the departure, in 2011, of Emilio Sahurie to set up his own firm. The ten-lawyer-strong practice is led by Manuel Carvallo and is adept at the full range of insurance matters, including litigation and arbitration proceedings, maritime and transportation law and class actions. Carvallo is currently representing Chilena Consolidada on a $3.5m arbitration against an importer concerning a rejected insurance claim, and recently assisted QBE with the setting up of a subsidiary in Santiago. The firm has also been instructed by several companies to prepare legal reports on insurance coverage following particularly extensive losses.

The full-service firm Barros & Errázuriz, whose service is ‘excellent in every respect – response times, level of knowledge and legal expertise', counts insurance as one of its core areas. The team advises on operations related to insurance as an industry, including the incorporation of insurance companies, acts in adjustment claims or arbitration proceedings on the side of the insured, and also assists foreign reinsurers with aspects of local insurance law and regulations. The firm assisted Consorcio Internacional de Aseguradoras de Crédito with the incorporation of the credit insurance company CESCE Chile Aseguradora, and a number of clients with the adjustment of insurance policies and claims against insurance companies. Highlights included representing Sociedad Protectora de la Infancia and Invertec Foods. The recommended José Tomás Errázuriz, Carlos Ducci and Emilio Vásquez are ‘all particularly good'.

Molina Ríos Abogados has a well-staffed insurance practice, which is led by Carlos Molina, an expert in the sector. It is experienced in policy drafting, general insurance and regulatory advice as well as insurance-related litigation. It represented the operating company of the Santiago-Los Vilos highway in arbitration proceeding concerning a damages claim against Compañía de Seguros Chilena Consolidada following the 2010 earthquake. Another representative mandate included acting for construction company Mendes Junior-Movitec in an arbitration against ING over the construction of the Caren reservoir.

Boutique firm SegurosLex merged with Amunategui y Cia in 2010, creating a specialised seven-lawyer practice that is based in Santiago and maintains an association with international law firm DAC Beachcroft LLP. The team, which includes Sergio Arellano, Hugo Botto and Miguel Luis Amunátegui, provides advice to leading insurance and reinsurance companies on contentious and non-contentious matters in a wide range of sectors including mining, construction and engineering, on which the firm has specific knowledge. Advice includes casualty insurance and general liability, management, underwriting and loss adjustment, as well as purchase transactions.

Claro y Cia's renowned corporate capabilities extend to the insurance sector, where it advises large financial entities and insurance companies on mergers and acquisition transactions as well as corporate restructurings related to their insurance business. It recently assisted Santander with the sale of 51% of its life and non-life insurance business in South America, including Chile, to Zurich Financial Services; and acted for Nalac Group, a local private holding of insurance companies, on the incorporation of a life insurance company.

Grasty Quintana Majlis & Cia.'s Alejandro Quintana is ‘a well-respected and impressive Chilean attorney'. His team is particularly esteemed for its marine insurance capabilities and its expertise includes handling claims, negotiations, recovery litigation and arbitration. It also handles non-marine insurance, such as contractual liability and tort. Highlights included advising Reifschneider on claim management and recovery litigation against a Chilean maritime carrier in relation to various cargo losses; and representing BBVA in an arbitration proceeding in connection with the adjustment of property claims arising from the 2010 earthquake. ‘Excellent' associate Paula Carvajal is ‘a pleasure to work with' and ‘consistently exhibits a willingness to go the extra-mile'.

Jaime Ríos leads the practice at Prieto y Cia, which advises insurance companies on arbitration proceedings and regulatory issues, as well as on the acquisition of insurance businesses. It assisted RSA Seguros Generales in two arbitral processes and Cía de Seguros de Vida Cámara with the merger of part of its business with the Medical Service of the Chilean Construction Chamber. It was also instructed by Assurant Chile Compañía de Seguros Generales on its approval process before the Chilean regulatory authority.