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Polar Shakeup Follows Credit Shenanigans

Jun 10, 2011

Chile’s La Polar has reshuffled its leadership and says it expects to raise loan-loss provisions by up to CLP200bn ($429m) due to unauthorized practices in the management of its credit portfolio. Chile’s Sernac consumer protection authority had initiated legal proceedings last week against La Polar,...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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