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Estrictamente Privado y Confidencial

1Privado y Confidencial

Company PresentationMarch-15

ILC

ILC subscribed an MoU with Prudential Financial Inc.

Habitat initiated operations in Peru, after being awarded the 1st new affiliates auction for 2 years

2012June 1st

2013

ILC’s Highlights

ILC sold 51% of DesarrollosEducacionales

ILC acquired 67% of the shares of Corp Group Vida Chile S.A.

ILC placed the largest IPO in Chile (US$ 468 million)

June 18th

2013

Vida Cámara was awarded in the D&S insurance auction in Peru

Vida Cámarawas awarded in the D&S insurance auction in Chile

May 12th

2014November 18th 2013

August 19th

2014

ILC subscribed an MoU with the controlling shareholder of Banco Internacional

October 28th

2014

September 13th 2013

December 18-19th

2014

Habitat was awarded in the 2nd

new affiliates auction in Peru for 2 years.

Vida Cámara was awarded in the 2nd

D&S insurance auction in Peru

ILC

Ownership and stock price

18.3%

performance

difference as of

March 13th, 2015

Ownership structure (Dec-14)

Market Cap (MMUS$)

Stock price (Ch$)

Net Income 9M14 (US$* Th)

1,226

7,445

88,712

P/E 7.97

P/BV 1.54

March 13th 2015

-12.9%

5.4%

Evolution of the stock price

Dividend Pay Out 60%-80%

*Exchange rate of Ch$599.22 as of September 30th, 2014

-30%

-20%

-10%

00%

10%

20%

30%

40%

jul-

12

ago

-12

sep

-12

oct

-12

no

v-12

dic

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feb

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mar

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abr-

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may

-13

jun

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jul-

13

ago

-13

sep

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oct

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v-13

dic

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feb

-14

mar

-14

abr-

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may

-14

jun

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jul-

14

ago

-14

sep

-14

oct

-14

no

v-14

dic

-14

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15

feb

-15

ILC IPSA

CChC67.0%

Internationals16.8%

Stockbrokers11.5%

Others4.7%


4Privado y ConfidencialILC

September, 2014

Exchange rate: CLP 599.22 per 1USD

(*) As of December 2014

(**) Gross Profit

Pension funds administration (AFP)

Life Insurance Company (Annuities)

Retirement

Sector

Health insurance institution (ISAPRE)

Hospital healthcare services

Outpatient healthcare services

Supplemental health insurance

Healthcare

and life

Insurance

Sector

Network of nine private schools and one

subsidized private school

IT and outsourcing services

Other

Business

US$640.7 mm

Revenues

US$-1.8 mm (**)

US$19.4 mm

Net Income

US$-5.3 mm

72.4%

Ownership

99.9%

US$420.7 mm

US$ 262.7 mm

US$ 12.0 mm

US$ 3.4 mm

99.9%

89.9%

US$6.9 mm US$-0.49 mm

49.0%

32.9%

Company overview

US$231.6 mm* US$155.8 mm* 67.5%



Revenues come from…

Gross

Salary

Net

Salary

Taxes: Range 0% - 40%

$1.27%

Commission fee

Supplemental health insurance

7%

Additional health contribution

Pension Fund Retirement

Habitat average: Ch$ 691,162 (US$ 1,049)

Chile average: Ch$ 636,713 (US$ 1,139)

Source: Superintendencia AFP, as of Dec-14; exchange rate $606.75

10%

Voluntary savings

Annuity

SavingsRetirement

Programmed Withdrawal

Mandatory Health Insurance

Voluntary Health Insurance

Insurance Healthcare



Our Business



Habitat

Income Statement (Th.US$*)

Revenues

Cost of sales

Dec – 14

231,569

-

EBITDAE**

SG&A

146,249

(98,483)

Operating Income 132,936

Gross Profit 231,569

Dec – 13

213,233

-

139,784

(88,431)

124,543

213,233

Net Income 155,797 130,981

Var. %

8.6%

-

4.6%

11.4%

6.7%

8.6%

18.9%

Gain (loss) of the encaje 52,886 24,144 119%

• Created in 1981 under the new

provisional system

• The only AFP under the same

controller through all its history

• 67.5% owned by ILC

• One of the most efficient AFP in

terms of cost control and the

second cheapest on fees

**EBITDAE calculated as profit before tax minus depreciation, finance cost, other non operational cost and financial income due to Habitat´s encaje.

* Exchange rate of Ch$606.75 as of December 31st,2014.



1,705,563

1,178,823

979,610

448,348

443,311

172,679

PROVIDA HABITAT CAPITAL MODELO CUPRUM PLANVITAL

Habitat: Key considerations

Salary base increase

Voluntary savings products

Incorporation of independent workers to the system

Capture of transfers from competitors

Products offered

Mandatory individual capitalization account

Contributions = 10% of gross salary (capped at

~US$3,000 per month)

Voluntary pension contributions

Tax exempt, up to a certain amount

Voluntary savings account

Allows withdrawals at any time

Programmed withdrawals

Pension payment option in which retirees maintain

their account with the AFP

Ample growth opportunities

Total AUM = US$165.4 bn

Source: Superintendencia de Pensiones, as of December 31st, 2014

Contributors distribution (as of December 2014)

Source: Superintedencia de Pensiones1 Contributors / affiliates

Contribution rate1

53.2% 58.9% 57.8% 48.2% 77.0% 56.3%

Habitat25.9%

Provida27.8%

Planvital2.8%

Cuprum21.2%

Modelo1.7%



0

50

100

150

200

250

300

350

0% 30% 60% 90% 120% 150%

48,615 55,974 63,500 61,515 64,824 62,441

27,089 19,504 13,06114,649

32,089

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2009 2010 2011 2012 2013 2014

Net Income (Ch$ mm)

Fee income (US$ million) & Expenses % (Dec-14)

Current mandatory fee (August– 2014)

Operating expenses & % fee income (Dec-14)

Habitat: Key considerations

Based on actual figures

Adjusted to Habitat’s 1.27%

fee rate

Habitat

1.27%

Capital

1.44%

Cuprum

1.48%

Provida

1.54%

Planvital

0.47%

Modelo

0.77%

Fe

e I

ncom

e (

US

$ m

illio

n)

Expenses % Fee Income

Habitat

232

Capital

201

Cuprum

180

Provida

303

Planvital

29

Modelo

47

42.5% 67.8%39.0% 53.2% 86.4%36.4%

CAGR ex-encaje (‘09-’14) 5.1%

(1,846)



429,034 442,013

471,108507,869

547,553

593,180

636713.0

429,414442,068

475,543

523,877

578,907

638,923

691,162

400,000

450,000

500,000

550,000

600,000

650,000

700,000

750,000

Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14

Industry Habitat

Ch$

AFP Industry as of December 2014

Evolution of Contributors

Contributor average salary

Evolution of Habitat AUM (US$ Million)

Source: Superintendencia de Pensiones, as of December, 2014

CAGR: 8.3%

CAGR: 6.8%

Source: Superintendencia de Pensiones, as of December,2014

30,793

36,305 37,281

41,805 42,653 42,820

2009 2010 2011 2012 2013 2014

-0.33%

-2.21%

1.18%

17.39%

34.31%

-0.44%

0

400,000

800,000

1,200,000

1,600,000

2,000,000

Habitat Capital Cuprum Modelo Planvital Provida

dic-13 dic-14 var anual %

8.18% 7.42%

8.97%

11.83%12.25%

6.59%7.34%

Habitat Capital Cuprum Modelo Planvital Provida Sistema

Annual growth of Gross Salary(nominal terms)



AFP Industry as of December 2014

Contributors Evolution: Salary < CL$500 Th. Contributors Evolution: Salary > CL$1,400 Th.

Contributors Market Share Evolution:

Salary > CL$1,400 Th.

Contributors Market Share Evolution:

Salary < CL$500 Th.

-30,000

-20,000

-10,000

0

10,000

20,000

30,000

40,000

50,000

dic

-12

feb

-13

abr-

13

jun

-13

ago

-13

oct

-13

dic

-13

feb

-14

abr-

14

jun

-14

ago

-14

oct

-14

dic

-14

Habitat

Capital

Cuprum

Modelo

Planvital

Provida

0

1,000

2,000

3,000

4,000

5,000

6,000

dic

-12

ene

-13

feb

-13

mar

-13

abr-

13

may

-13

jun

-13

jul-

13

ago

-13

sep

-13

oct

-13

no

v-1

3

dic

-13

Habitat

Capital

Cuprum

Modelo

Planvital

Provida

24.8% 25.0% 25.2% 25.4% 25.5% 25.4% 25.4% 25.3% 25.1%

21.3% 21.3% 21.3% 21.3% 21.2% 21.1% 20.9% 20.6% 20.3%

35.3% 34.7% 34.2% 33.6% 32.9% 32.7% 32.4% 32.5% 32.4%

2.3% 2.8% 3.3% 3.9% 4.5% 5.0% 5.4% 5.8% 6.1%

0.7% 0.7% 0.7% 0.7% 0.7% 0.7% 0.7% 0.7% 0.9%

15.7% 15.5% 15.3% 15.1% 15.2% 15.2% 15.2% 15.2% 15.1%

Habitat

Capital

Cuprum

Modelo

Planvital

Provida

23.4% 22.9% 22.5% 22.1% 21.7% 21.3% 21.0% 20.7% 20.3%

19.6% 19.3% 19.1% 18.8% 18.6% 18.4% 18.2% 18.0% 17.7%

3.4% 3.3% 3.2% 3.0% 2.9% 2.8% 2.8% 2.8% 2.7%

8.3% 9.7% 10.8% 11.9% 12.9% 14.0% 14.9% 15.6% 16.2%

4.4% 4.4% 4.4% 4.4% 4.4% 4.4% 4.3% 4.4% 4.5%

40.9% 40.4% 40.1% 39.8% 39.5% 39.1% 38.8% 38.6% 38.5%

Habitat

Capital

Cuprum

Modelo

Planvital

Provida



Habitat: Peru

December 20th 2012, Habitat was awarded in the first auction in

Peru

All the new entrant into the formal sector contribute into Habitat

for two years

600,000 new beneficiaries expected in two years

As of June 1st 2013, Habitat started operations in Peru.

As of December 2014, Habitat Market Share is 7.0% in terms of

affiliates

Mandatory mix fee rate after the first auction (%)

Ample growth opportunities

Total AUM = US$40.8 bn

Source: SBS as of December2014

Contributors distribution (as of November 2014)

Prima

1.55%

Over the

contribution

Integra

Over the AUM

1.51%

1.49%Profuturo

PROMEDIO

0.47%Habitat

1.26%

1.20%

1.90%

1.20%

1.25%

1.39%

Source: Superintendencia de Banca, Seguros y AFP del Perú

Source: SBS as of December 2014

2,034,782

1,835,332

1,461,026

383,796

Integra Profuturo Prima Habitat

Habitat0.4%

Integra37.2%

Prima29.1%

Profuturo24.1%



Potential synergies in the health business

7% of the

gross salary

is the

mandatory

contribution

* The GES plan cost 0.325 U.F since July 1st, 2013

Full coverage of 80

diseases in an

established network *

10% of the

gross salary

is the average

contribution

Average monthly contribution

per contributor: USD $137.8Medical Bill

Monthly primus

Co-payment

between the

company and

the employee

Average monthly contribution

per beneficiary: USD $18.7

% covered by:

% covered by:

% of the

Net Salary

% covered by the

person

or

USD 15.2**



Consalud

Sep – 14

420,722

(352,308)

(57,805)

12,713

68,414

Sep – 13

383,158

(328,398)

(53,105)

4,851

54,760

12,000 6,805

Var. %

9.8%

7.3%

8.9%

162.1%

24.9%

76.3%

Income Statement (Th. US$*)

Revenues

Cost of sales

SG&A

Operating Income

Gross Margin

Net Income

• Created in 1984 under the new

provisional health system

(Isapre)


• The price of GES rose to UF

0.325 due to the inclusion of 11

new diseases, since July 1st,

2013

19,148 10,598 80.7%EBITDA**

**EBITDA calculated as profit before tax minus depreciation, finance cost and other non operational cost.

*Exchange rate of Ch$599.22 as of September 30th, 2014.



Products offered

Consalud: Key considerations

Growing demand prospects

Leading private health insurance provider

and strong market position

Strong brand recognition

Continuous innovation and incorporation of

new technologies

First choice provider for people moving

from the public to the private health

insurance system

Medical plans

Open network plans

Preferred provider plans

Closed network plans

Complementary product offerings

Additional coverage for catastrophic

diseases

Dental plans

Pharmacy plans

18.6%

18.2%

13.6%

29.8%

19.7%

Isapre: 3.12 mm

Fonasa D: 3.0 mm

Fonasa C: 2.2 mm

Fonasa B: 4.9 mm

Fonasa A: 3.2 mm

Source: Superintendencia de Salud, as of September 2014

Others includes Vida Tres and Ferrosalud.

Total Contributors = 1,750,333

Source: Fonasa, as of December, 2012

Consalud20.7%

Cruz Blanca21.0%

Banmédica20.8%

Colmena16.2%

Masvida16.2%

Others5.2%



Consalud: Key considerations

Source: Superintedencia de Salud and ILC 1 Operating revenues divided by the number of contributors. Exchange rate of Ch$599.22 as of September 30th,2014; 2 Operating expenses divided by operating revenues

Number of Contributors (as of September 2014) Average monthly contribution1 in US$ (Sep. 2014 LTM)

Loss ratio2 (as of September 2014 LTM)Number of Beneficiaries (as of September 2014)

367,125 363,617 362,014

283,619 283,361

74,867

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

Cruz Blanca Banmédica Consalud Colmena Masvida Vida Tres

667,073 666,276 658,183

523,943 506,643

140,131

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

Banmédica Consalud Cruz Blanca Masvida Colmena Vida Tres

83.6%

85.2%

86.0%

86.8%

87.8%

89.3%

82.0%

83.0%

84.0%

85.0%

86.0%

87.0%

88.0%

89.0%

90.0%

Consalud Cruz Blanca Colmena Vida Tres Banmedica Masvida

137.8 144.9158.0

168.8

194.0

238.2

0

50

100

150

200

250

300

Consalud Cruz Blanca Banmedica Vida Tres Masvida Colmena



Consalud: Operating data

Mandatory contributions (Ch$ million)

Voluntary contributions (Ch$ million)

Sep -14 LTM

241,378

92,893

TOTAL (Ch$ million) 334,829

Others (Ch$ million) 558

Dec-12

208,126

66,793

275,380

461

Dec-13

231,374

80,426

312,320

520

Source: Superintedencia de Salud, FEFI Consalud as of September 2014.

353,870 361,204 362,014

$ 778,195

$ 864,664

$ 924,907

750,000

800,000

850,000

900,000

950,000

348,000

350,000

352,000

354,000

356,000

358,000

360,000

362,000

364,000

Dec-12 Dec-13 Sep-14 LTM

ContributorsN° Contributors Revenues / Contributor

(Ch$)

671,571 675,665 666,276

$ 410,053

$ 462,241

$ 502,539

350,000

370,000

390,000

410,000

430,000

450,000

470,000

490,000

510,000

530,000

500,000

520,000

540,000

560,000

580,000

600,000

620,000

640,000

660,000

680,000

700,000

Dec-12 Dec-13 Sep-14 LTM

BeneficiariesN° Beneficiaries Revenues / Beneficiary

(Ch$)



Red Salud

Sep-14

262,726

(205,780)

(39,023)

17,923

56,946

Sep-13

236,861

(186,453)

(33,575)

16,834

50,408

3,428 6,906

Var. %

10.9%

10.4%

16.2%

6.5%

13.0%

(50.4%)


Revenues

Cost of sales

SG&A

Operating Income

Gross Margin

Net Income

• One of the main private

healthcare providers, reaching

close to 18.6% of the private

beds in Chile


• National coverage through a

network of 16 hospitals and 33

medical centers

30,872 30,953 (0.3%)EBITDA**

**EBITDA calculated as profit before tax minus depreciation, finance cost and other non operational cost.

*Exchange rate of Ch$599,22 as of September 30th ,2014.



68

100

103

105

105

128

256

321

335

400

228

540

Iquique

Las Lilas

Avansalud

UC San Carlos

UC Lira

Tabancura

Las Condes

Indisa

Santa María

Alemana

Bicentario

Davila

Chilean private hospitals by number of beds (2013)

Red Salud: Overview

493*

Red Salud hospitals

Others

ILC market share

(in terms of private

hospital beds):

18,6%

Source: ILC, annual reports of the companies as filed with the SVS, except Clinica Alemana, where the information has been derived from its website; *Represents the original number of beds for this project,

still not approve by the board.

222



Evolution of revenues – Red Salud

Red Salud: Operating data

Admissions

Emergency room visits

Sep-13

39,140

97,450

Patient days 96,243

Sep-14

39,609

99,822

100,306

Tabancura

Avansalud

Average

ocupancy rate

75.1%

66.2%

Iquique 55.6%

Bicentenario 75.2%

Average lenght of

stay (days)

3.00

1.70

2.40

4.00

September - 14

Includes Bicentenario, Avansalud, Tabancura and Iquique hospitals

Evolution of EBITDA LTM – Clínica Bicentenario (Ch$ mm)

66,442 74,735 78,459

97,369

117,691129,466

0

50,000

100,000

150,000

200,000

250,000

Dec-12 Dec-13 Sep-14 UDM

Hospital revenues Outpatient revenues

Ch$ million

-4,881

-4,418-4,096

-3,508

-3,061

-2,599-2,273

-1,926

-1,331-1,508-1,427

-1,089

-634-594-533-168

100

488740

1,0891,420

1,7641,943

1,849

2,0142,237

2,344

2,351

2,291 2,209 2,1832,2232,576

-6,000

-5,000

-4,000

-3,000

-2,000

-1,000

0

1,000

2,000

3,000

dic

-11

en

e-1

2

feb-1

2

ma

r-1

2

ab

r-1

2

ma

y-1

2

jun-1

2

jul-12

ag

o-1

2

sep-1

2

oct-

12

no

v-1

2

dic

-12

en

e-1

3

feb-1

3

ma

r-1

3

ab

r-1

3

ma

y-1

3

jun-1

3

jul-13

ag

o-1

3

sep-1

3

oct-

13

no

v-1

3

de

c-1

4

jan-1

4

feb-1

4

ma

r-1

4

ab

r-1

4

ma

y-1

4

jun-1

4

jul-14

au

g-1

4

sep-1

4



Red Salud: Operating data

Evolution of Revenues, Net Income and EBITDA of our private

hospitals and outpatient centers

Income Statement (Sep-14) Megasalud Avansalud Tabancura Bicentenario Iquique

Ch$ millions

Revenues 68,387 25,884 25,231 30,833 4,800

Cost of sales (54,393) (19,377) (19,189) (25,568) (3,203)

Gross Profit 13,994 6,506 6,042 5,265 1,596

SG&A (8,770) (3,486) (4,130) (4,605) (1,043)

Operating Income 5,225 3,020 1,912 660 553

Net Income 4,194 1,513 1,249 (1,790) 306

EBITDA(*) 7,538 4,894 2,971 2,294 842

EBITDA Mg. 11.0% 18.9% 11.8% 7.4% 17.5%(*) EBITDA calculated as Operating Income minus depreciation and amortization

Income Statement (Sep-13) Megasalud Avansalud Tabancura Bicentenario Iquique

Ch$ millions

Revenues 62,032 23,443 23,724 26,590 4,832

Cost of sales (48,548) (18,193) (17,997) (22,803) (3,281)

Gross Profit 13,484 5,250 5,728 3,787 1,552

SG&A (8,118) (2,741) (3,605) (3,480) (1,155)

Operating Income 5,366 2,509 2,122 307 397

Net Income 4,061 1,139 1,485 (1,517) 279

EBITDA(*) 7,597 4,198 3,102 1,804 545

EBITDA Mg. 12.2% 17.9% 13.1% 6.8% 11.3%(*) EBITDA calculated as Operating Income minus depreciation and amortization



Vida Cámara

Sep – 14

(3,937)

7,486

(7,968)

(9,826)

(1,858)

Sep – 13

(1,691)

6,231

(5,417)

(876)

4,541

(5,315) (649)

Var. %

(132.9%)

20.1%

47.1%

(1021%)

(140.9%)

(719%)

D&S Chile- Gross Profit **

Health and life Insurance- Gross Profit **

SG&A

Operating Income

Gross Margin

Net Income

• Created in 2009 due to the

acquisition of 99.9% of RBS

(Chile) Seguros de Vida S.A.


• On January 2012 launch the

complementary health

insurance business, adding

more than 9,000 beneficiaries

per month

• As of September 23rd 2013,

Vida Cámara was awarded,

with two of seven fractions, the

D&S insurance auction in Peru.

• As of May 12th 2014, Vida

Cámara was awarded, with two

of nine fractions of the male

pool, in the D&S auction in

Chile.

*Exchange rate of Ch$599,22 as of September 30tth 2014. ** Includes

Technical Margin and Investments results.


(5,408) - -D&S Peru – Gross Profit **



Vida Cámara: Key considerations

Since July 2012, Vida Cámara

stopped supplying the D&S

insurance

8.4% premium market share in the

Supplemental Health Insurace

business (4th in the industry)

Complementary health insurance

Life and catastrophic insurance

Entrance in Peru

New D&S Contract in Chile

In average, more

than 9,000

beneficiaries per

month

Evolution of beneficiaries for the complementary health insurance

New projects

1,37615,801

71,400

130,115

186,118

223,061 221,058 227,385220,535 222,555 222,149 226,343

jan-12 mar-12 jun-12 sep-12 dec-12 mar-13 jun-13 sep-13 dec-13 mar-14 jun-14 sep-14



Inv. CorpGroupInterhold Ltda.

Corp Group Banking S.A.

FIP Corp Life

Corp Group Vida Chile S.A.

CorpGroup Vida Ltda.

72.4% of the shares

44.9%33.1%

22.0%

100%100% 100%

Corp Group Vida Chile

Sep – 14 (**)

364,500

(601,278)

(18,643)

20,765

39,408

Sep – 13

400,206

(611,936)

(32,423)

(36,353)

(3,930)

19,417 (31,217)

Var. %

(8.9%)

(1.7%)

(42.5%)

157.1%

1103%

162%

Revenues from insurance activities

Cost of Sales

SG&A

Operating Income

Gross Margin

Net Income

• As of November 18th, 2013 ILC

acquired 67% of the shares of

Corp Group Vida Chile S.A.

• The price paid for the shares

and social rights was CLP

$87,250 million (US$ 167.5

mm)

Key Considerations (as of Sep-2014)

• 14.6% Market share on

annuities

• 7.5% Market share on life

insurance direct premium

• 16.5% Market share on AuM

• More than 300,000 policy

holders in CorpVida

*Exchange rate of Ch$599,22 as of September 30tst 2014.(**) ILC only consolidate the 1Q14 period.


276,187 207,800 32.9%Revenues from financial result

(6,346) (8,305) 30.9%Non-Insurance Activity Profit

23,043 (27,516) 146.6%Insurance Activity Profit



Corp Group Vida Chile

Income Statement evolution of Corp Group Vida Chile

subsidiaries

Corpseguros S.A.

Income Statement 9M14 9M13 Var % 3Q14 3Q13 Var %

Premium Income 48,631 53,478 -9.1% 15,534 7,908 96.4%

Annuity 46,639 51,317 -9.1% 14,873 7,208 106.3%

Loans 1,991 2,161 -7.8% 661 701 -5.7%

Result of Investments 121,672 83,200 46.2% 46,289 11,704 295.5%

Reserves and Claims (143,574) (148,387) -3.2% (48,544) (38,991) 24.5%

Gross Profit 26,729 (11,710) 328.3% 13,279 (19,378) 168.5%

Administrative expenses (4,866) (4,450) 9.4% (1,703) (1,654) 3.0%

Operating Income 21,863 (16,160) 235.3% 11,576 (21,033) 155.0%

Non-Operating income 1,309 (617) 312.2% 179 81 -120.2%

Profit before tax 23,172 (16,776) 238.1% 11,755 (20,951) 156.1%

Income tax expenses (2,515) 5,779 143.5% (1,311) 2,161 160.6%

Profit to Corpseguros S.A. (**) 20,657 (10,998) 287.8% 10,444 (18,790) 155.6%

US$ Th. (*) US$ Th. (*)

(*) Exchange rate of $599.22 as of September 30th 2014. (**) ILC only consolidate the 2014 period.

Corpvida S.A.

Income Statement 9M14 9M13 Var % 3Q14 3Q13 Var %

Premium Income 334,340 351,479 -4.9% 100,340 112,986 -11.2%

Annuity 269,096 279,342 -3.7% 80,002 90,023 -11.1%

Individual Life Insurance 54,294 44,429 22.2% 16,597 15,437 7.5%

Corporate 8,698 25,748 -66.2% 2,968 6,842 -56.6%

Loans 2,252 1,959 14.9% 774 684 13.1%

Result of Investments 138,763 100,894 37.5% 57,448 40,247 42.7%

Reserves and Claims (449,828) (455,489) -1.2% (135,703) (154,625) -12.2%

Gross Profit 23,275 (3,116) 846.8% 22,085 (1,392) 1686.7%

Administrative expenses (17,406) (15,977) 8.9% (5,996) (5,935) 1.0%

Operating Income 5,868 (19,094) 130.7% 16,089 (7,326) 319.6%

Non-Operating income (3,977) (973) 308.8% (2,821) (1,760) -60.3%

Profit before tax 1,891 (20,067) 109.4% 13,268 (9,086) 246.0%

Income tax expenses 494 3,548 -86.1% (1,116) 2,932 138.1%

Profit to Corpvida S.A. (**) 2,386 (16,519) 114.4% 12,152 (6,155) 297.4%(*) Exchange rate of $599.22 as of September 30th 2014. (**) ILC only consolidate the 2014 period.

US$ Th. (*) US$ Th. (*)



Financial Summary



Balance Sheet

Sep – 14

355,252

1,268,292

9,543,459

Dec – 13

380,408

1,187,989

8,800,549

Balance

Total current assets

Total non current assets

TOTAL ASSETS

336,369

711,790

7,354,069

289,176

655,988

6,657,333

Total current liabilities

Total non current liabilities

Total insurance liabilities

1,141,231 1,198,052TOTAL EQUITY

9,543,459 8,800,549TOTAL EQUITY &

LIABILITIES

US$* Thousands

Sep – 14

331,109

613,362

US$* Thousand

Short term debt

Long term debt

944,471Total financial debt

Sep – 14

337,070

1,141,231

US$* Thousand

Cash & cash equivalent

Total equity

< 1.0 X

0.53 x

COVENANT

Net Fin. Debt / Total Equity

(*)Exchange rate of Ch$599.22 as of September 30th, 2014

7,919,915 7,232,152Total insurance assets

Sep– 14

129,405

Sep – 13Income Statement

Non insurance activity

operating income

88,712 74,567NET INCOME

167,331 155,021

Profit attributable to non-

controlling interest and

income tax expense

116,655

24,145Non insurance activity non

operating income15,839

Insurance activity operating

income10,939 (877)

Insurance activity non

operating income5,580 95

(80,757) (57,145)

Non insurance activity

EBITDAE**

(**)EBITDAE calculated as profit before tax minus depreciation, finance cost, other non

operational cost and financial income due to Habitat´s encaje.



Financial Data (as of September 2014)

Financial Debt

Cash Flow from our main subsidiaries (Sep-14) EBITDA (non insurance business) (Sep-14)

Credit Risk

Feller Rate:

AA+

Humphreys:

AA+

Local credit rating

(*) According to Superintendency of Health regulation. (**) According to the current dividend policy of each subsidiary as of September 2014

Financial Debt

(USD million)ILC Habitat

Vida

Cámara

Corp Group

Vida Chile S.A.C. Machalí Consalud Red Salud

TOTAL

Short Term 30.2 0.1 - 262.3 1.2 0.1 34.8 328.8

Bonds 1.9 - - 18.3 - - 1.0 21.3

Bank loans 28.3 0.1 - 244.0 1.2 0.1 28.0 301.7

Leasing - - - - - - 5.8 5.8

Long Term 241.8 0.4 2.3 177.2 4.7 0.9 188.4 615.7

Bonds 95.0 - - 154.9 - - 76.6 326.6

Bank loans 146.9 - 2.3 22.2 4.7 0.9 34.9 211.9

Leasing - 0.4 - - - - 76.8 77.2

Total 272.0 0.4 2.3 439.5 6.0 1.0 223.2 944.5

Sep-14 Distributable Net

Income (US$ Th)

Dividend Policy**

% Ownership %

Div. to ILC (US$

Th.)

Habitat 56,852 90% 67.5% 34,527

Red Salud 3,428 100% 89.9% 3,082

Consalud* 14,303 100% 99.9% 14,289

Vida Cámara (5,315) 100% 99.9% -

CGVC 19,417 30% 72.4% 4,219

Total 88,686 56,117

105,754 113,791

10,59819,148

30,953

30,8727,716

3,520

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

9M13 9M14

Others

Red Salud

Consalud

Habitat

US$ Th.



Company PresentationMarch-15

For more information, please contact with:

Ignacio González R. María Paz Merino Pagola

CFO Head of Investor Relations

Phone: (56 2) 2477 4606 Phone: (56 2) 2477 4673

[email protected] [email protected]

www.ilcinversiones.cl

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