Matías Vergara


+56 2 2928 2208

Partner of Carey and co-head of the Insurance and Reinsurance / Customs and International Trade / Government Procurement Groups. His practice focuses mainly on the insurance and reinsurance industry, customs and international trade, government procurement, international transactions, mergers and acquisitions, regulatory matters, and commercial and corporate advisory services.


  • The Warranty Group, leading provider in the market of protection plans and extended warranties, on their regulatory analysis and Chilean local structuring of the merger with Assurant, global provider of risk management and insurance solutions.
  • Tower A, an office building owned by Sencorp, on the loss adjustment process and negotiations with insurance companies and loss adjustors, establishing the payment of approx. USD18,4 million from ACE/Chubb. This, after a flood affected Torre A due to the overflow of Mapocho river occurred in 2016 and that kept it closed for four months. The advice included the interpretation and enforcement of insurance policies involving brokers, the insurance company, and Torre As’ lessees.
  • Scotiabank on their due diligence, representations and warranties regarding insurance matters and preparation of their formal offer to acquire BBVA, a Spanish bank, and its related local life insurance company and insurance brokerage entity, as well as the relevant indirect change of control regulatory filing before the Chilean insurance regulator.
  • Parque Arauco on the review of its insurance programs for their assets located in Chile, Peru and Colombia, suggesting amendments, coverage alternatives according to the risks assessed, working together with JLT insurance brokers.
  • An international insurance company on the loss adjustment process of fraud, cybercrime and data protection insurance policies to determine the application of concurring local and international insurance policies of the insured subject to a loss.
  • Travelers and Novae Syndicates on insurance coverage opinions, the exercise of their control clause and the successful defense and settlements of disputes arising from insurances claims involving two losses between the insured ports and underlying insurance company.
  • Scor Reinsurance on compliance with local insurance regulation applicable to its Chilean subsidiaries due to the global restructuring of the group.
  • Allianz, Euler Hermes, Posche, Phoenix International and CH Robinson on several reports about intermediation, advertising and insurance sales channels in Chile.
  • Liberty Mutual on obtaining authorization to the transfer of direct control and approval of capital increase and bylaws amendments from the Chilean insurance regulator as a result of the acquisition of Penta-Security insurer.
  • General Motors Financial and SubSole on structuring of warranties to finance the sale of products through surety insurance.
  • Local and foreign banks on reports about settlements (bankruptcy) of insurance companies, investment limits of insurance companies and essence and minimum content of insurance policies.
  • American General Life Insurance Company and other foreign institutional investors on the structuring, negotiation and execution of the insurance and reinsurance package, including insurance and reinsurance endorsements, reinsurance assignments and termination of prior insurance guarantees; and dealing and negotiating with the issuer, insurance companies and insurance advisors, for the acquisition of a USD412 million private offering by Inversiones Latin America Power, to refinance the existing financing of two wind farms with a combined capacity of 230 MWp, for the San Juan and Totoral Projects.
  • Starr on the analysis of the regulatory requirements to conduct fronting business in Chile, restrictions to newly incorporated insurance companies equity, and the review and edition of the local entity risks and investments mandatory policies until their approval by the Chilean insurance regulator.
  • Aviva on its registration as a foreign reinsurance company before the Chilean insurance regulator.
  • Integro Reinsurance Brokers on the renewal of their professional indemnity policy, which is legally required for foreign reinsurance brokers registered in Chile. Our advice included the submission of the insurance policy renewal to the Chilean insurance regulator; the analysis of the insurance regulator’s observations in connection therewith; discussing with the insurance regulator the policy’s compliance with Chilean regulation; and obtaining the insurance regulator’s approval of Integro’s policy renewal.
  • Starr, MetLife, Zurich, Santander, Euler Hermes and Mapfre on reports on insurance regulation applicable to the outsourcing of services by insurers.
  • Several insured (debtors/sponsor) and/or banks (creditors) on the negotiation and preparation of insurance programs, including insurance and reinsurance endorsements and assignment of reinsurance, in which local regulation (insurance) and international regulation (reinsurance) concur for the finance of wind and solar energy projects such as: Huatacondo, San Juan, Verano Capital, Orion, Esperanza, Marchigüe, Laberinto, Crucero, Conejo Solar, Uribe, Aurora, Los Loros, etc.
  • Aela Energía on the structuring, negotiation and execution of the insurance and reinsurance package, including insurance and reinsurance endorsements, reinsurance assignments and compliance with the relevant Power Purchase Agreements, for a long-term loan for USD435 million to finance the construction of two wind farms (Aurora and Sarco) that will inject 299 MW to the national grid (SIC and SING), and to refinance the existing loan that Cuel Wind Farm has with China Development Bank.
  • IGT Global Solutions, GlaxoSmithKline, Trafigura, BSH Group and Clorox on the analysis of preferential customs treatment pursuant to applicable Free Trade Agreements, including Mexico, Korea, USA, The European Union, among others, for the import of pharmaceutical products, petrol, chemicals, hazardous substances, etc.
  • Finning and Jeunesse on administrative defenses before the National Customs Services and Customs and Tax Courts regarding disputes arising from rules of origin compliance pursuant to certain Free Trade Agreements.
  • Cargill on the legal analysis of customs regulations in connection with the implementation of a tolling agreement entered into by its local subsidiary and its foreign parent company.


  • Recognized in Insurance, Chambers Latin America.
  • Recognized in Insurance, Legal 500.
  • Winner in the Insurance Category, Leading Lawyers, Idealis (2015).


  • Member of the Chilean section of the International Insurance Law Association, AIDA.
  • International Purchasing Group Intern, Heidelberg Cement, Germany (2009).
  • Insurance brokers claims consultant, Waterloo Brokers, South Africa (2008-2007).
  • In-house counsel, Rabobank Chile.
  • Member of the Chilean Bar Association.


  • Co-author of “The Insurance Agreement and Similar Agreements”, Revista Chilena Derecho Seguros, 2016. AIDA Chile (2017).
  • Co-author of “Possible Transpacific Partnership Implications for Chilean International Trade”, Global Trade and Customs Journal (2016).
  • Contributor to Benchmarking Public Procurement, Assessing Public Procurement Systems in 77 Economies, World Bank (2016).
  • Contributor to Benchmarking Public Procurement, Pilot Report Assessing Public Procurement Systems in 10 Economies, World Bank (2015).
  • Co-author of “Amendment to Self-Accusation Regulations in the Customs Ordinance”, The Year in Review (2015).
  • Co-author of The New Insurance Agreement Act. The Year in Review, ABA/Section of International Law. Latin America and the Caribbean (2014).
  • Author of several articles of insurance law, corporate issues, energy, natural resources, labor law and other regulation matters, published in “Legal Development in Latin America” and “The Year in Review”, American Bar Association.


  • Law, Universidad de Chile.
  • LL.M., University of Cape Town, South Africa.
  • Degree on Non-Life and Life Insurance, Escuela de Seguros certified by the Chilean Insurance Regulator (Best student Award, 2011).
  • Degree on New Tax and Customs Regulation (Best student Award, 2012).


  • Chile (2007).


  • Spanish.
  • English.

© 2018 Carey   |    Disclaimer    |    Privacy and Cookie Policies

Created by Carey´s Communications and Design Department, Santiago, Chile