Chile's seven open Isapres recorded nominal profits of $14.142 million in 2025, their best result since 2020. However, the Superintendencia de Salud warns that the operational result remains negative at -$12.445 million, though it improved 93% from 2024.
Chile's open private health insurers posted nominal profits of $14.142 million in 2025, the best performance in five years, compared to losses of $100.691 million in 2024. This balance reflects the first full year after the implementation of the short Isapres law.
The Superintendencia de Salud explained that the operational result, measuring core business sustainability, was negative at -$12.445 million. "In other words, the system spent more on daily operations than it collected in contributions," the regulator stated. Still, this loss is 93% smaller than in 2024 and the best since 2020.
The non-operational result, with $25.517 million from financial income like guarantee interest, offset operational losses. Revenues grew 11.6% due to base price increases, while medical leave costs dropped 13.6%, from $811 billion to $701 billion. The claims ratio fell to 91.2% from 95.3%.
By Isapre, Consalud shifted from losses to $19.991 million profit, Colmena to $15.539 million, and Nueva Masvida to $9.998 million. Banmédica, Cruz Blanca, Vida Tres, and Esencial reduced losses but ended negative. The Superintendencia stressed ongoing structural issues, with historical costs exceeding revenues.