OBS_VALUE: The Law authorizes foreign insurance companies to establish branches with separate capital in Chile, subject to approval by the Securities and Insurance Supervisory Authority.  There are no restrictions on the number of branches that foreign insurance companies may establish in Chile.  Moreover, the Law establishes that branches of foreign companies shall have the same rights and obligations as domestic insurance companies.  The law stipulates that these agencies must abide by the procedures under Title XI of Law 18.046. See OECD Code of Liberalisation and Capital Movements 2013: http://www.oecd.org/daf/inv/investment-policy/CapitalMovements_WebEnglish.pdf.  Additional Source: OECD (2011), Chile Review of the Insurance System