During 2025, the Chilean Congress approved a reform of the pension system, becoming one of the most important legal reforms of the last 40 years. It will increase pension contributions (gradually until 2033) by 8.5%, of which 4.5% will go directly to individual capitalisation, and the other 4% will strengthen social security equality between men and women. In the face of these guaranteed increases in pensions, life annuities will generate a greater interest for future pensioners, creating a favourable scenario for this insurance product in the market. We also expect the reform to improve economic growth, gradually decreasing unemployment and reactivating an economy that is still very resentful following the pandemic.