Sustainability
Report
2019

Legal Name
Inversiones La Construcción S.A.
Doing Business As
ILC or ILC Inversiones
Taxpayer ID Number
94.139.000-5
Type of Company
Publicly held corporation registered in the 
Securities Registry of the Financial Markets 
Commission
Legal Address
Avenida Apoquindo 6750, Floor 20, Las Condes, 
Santiago, Chile
Phone / Fax
(+56-2) 2477 4600
Contact Us
María de los Ángeles Arce R.
Investor Relations
Phone: (+56-2) 2477 4683
E-mail: mdlaarce@ilcinversiones.cl
Gustavo Maturana V.
Investor Relations
Phone: (+56-2) 2477 4680
E-mail: gmaturana@ilcinversiones.cl
Cristina Trejo D.
Investor Relations
Phone: (+56-2) 2477 4681
E-mail: ctrejo@ilcinversiones.cl
Website
www.ilcinversiones.cl
Corporate
Information
Sustainability
Report
2019

Chapter 3:
CULTURE OF
SERVICE
AND ETHICS
•	 Culture of Service and Ethics	
46
•	 Workplace Environment
	 and Wellbeing	
52
•	 Attracting and Retaining Talent	 58
•	 Culture of Ethics	
62
Chapter 1:
PROFILE AND
CORPORATE
GOVERNANCE
•	 Introduction	
10
•	 ILC’s Social Service Role	
12
•	 Materiality	
14
•	 Sustainability Platforms
	 and Commitments	
16
•	 Sustainability Strategy	
18
•	 Corporate Governance	
21
•	 Sustainability Committee	
23
•	 Ethics Guidelines and Crime 
Prevention Policies	
24
•	 Risk Management	
26
Contents
Chapter 2:
INCLUSIVENESS
AND ACCESS
•	 Inclusiveness and Access	
30
•	 Customers	
34
•	 Community Engagement
	 and Contributions	
40
Chapter 4:
CONTRIBUTION TO 
PUBLIC DEBATE
•	 Contribution to Public Debate	
66
•	 Contribution to Industry 
Regulatory Improvements	
67
•	 Industry Associations and 
Memberships	
68
Chapter 5:
RESPONSIBLE
INVESTMENT
•	 Responsible Investment	
74
•	 Economic Value Generated
	 and Distributed	
76
•	 Geographic Breakdown of 
Revenue, Profit and Taxes	
78
•	 Relationship with
	 Construction Workers	
80
•	 ESG Portfolios and Assets	
82
•	 Operational Eco-efficiency	
85
•	 Carbon Footprint	
89
•	 Message from the Chief 
	 Executive Officer	
04
•	 Appendix 1
	 GRI Content Index	
92
•	 Appendix 2
	 Assurance Letter 	
98
•	 Appendix 3
	 About this Report	
100
3
2

community.  Accordingly, we have made progress 
in placing our products and services within reach 
of individuals, thereby boosting their quality of 
life. For example, RedSalud has implemented new 
telemedicine alternatives like online testing, while 
Vida Cámara launched “5-50,” a product aimed at 
SMEs with five to 50 employees who previously 
could not access supplemental health insurance. 
One of the key challenges we have set for ourselves 
is to get to know our customers better so that, in 
turn, we are able to better serve their needs.  In this 
spirit, Confuturo has enabled online tools such as 
the Online Advisor, a virtual guide available to assist 
users with their pensions and life annuities. 
But we believe that we must take this further—beyond 
our customers—which is why we have revamped 
our programs to have an impact on the community 
as a whole. RedSalud spearheaded a series of 
regional initiatives, by providing access to testing 
and preventative screenings in several communities. 
Consalud continues to host family sporting events 
such as the Recreational Bike Path in Santiago and 
the Viña del Mar Marathon. Moreover, our subsidiaries 
have partnered with various organizations, such as 
Las Rosas Foundation, Esperanza Shelter, Sofofa’s 
Network of Inclusive Companies (REIN), and 
others, to manage donations to vulnerable groups. 
Likewise, we must not forget that proceeds from our 
operations are allocated to funding social projects 
in the construction industry. In 2019, our majority 
shareholder, Chilean Chamber of Construction, invested 
US$19 million in projects benefiting construction 
workers and their families. Most of these projects 
were financed through ILC dividends.  
Our second strategic pillar is centered on fostering a 
culture of service and ethics among all team members. 
In order for our employees to provide good services, 
they must be motivated and trained; we also make 
an effort to instill our dedication to inclusiveness 
throughout the entire organization. One example is 
our commitment to promoting female employees: 
women account for 73% of our total workforce and 
65% of new hires, not to mention that for the first 
time ever a woman sits on our Board of Directors.  
In addition, we have reinforced ethical aspects of 
our operations. In 2019, ILC adjusted and certified 
its Crime Prevention Model to broaden the scope 
to include new crimes that could have an impact 
on the Company (Law 21,121). Our subsidiaries, in 
the meantime, are undertaking similar processes to 
update their models as well.  We have also focused 
on reinforcing our culture of ethics, especially as 
far as commercial processes are concerned, so 
that we will always operate with the best interests 
of our customers in mind. As such, RedSalud has 
enabled Línea Ética, a specialized platform for receiving 
complaints and claims related to regulatory violations. 
Subsidiaries such as Confuturo, Banco Internacional 
and Vida Cámara have provided several alternatives 
for training their sales force in market conduct and 
associated ethical standards. 
Message
from the CEO
Dear Stakeholders,
I would like to welcome you to our eighth Sustainability 
Report. This report describes the principal economic, 
social and environmental advances in 2019 for our 
parent company and our subsidiaries Confuturo, 
Banco Internacional, RedSalud, Consalud and Vida 
Cámara. 
ILC participates in key industries that affect the 
country’s development and the welfare of individuals, 
such as the financial and health sectors. The 
Company’s origins date back to 1980 when a 
series of companies related to the social security 
sector were founded, such as AFP Habitat, Isapre 
Consalud and RedSalud. After its IPO in 2012, Vida 
Cámara, Confuturo and Banco Internacional joined 
the corporation.
After that, ILC as a group became the largest 
institutional investor in Chile, the leading payer 
of pensions in the country and the private health 
provider with the greatest nationwide coverage, not 
to mention providing health insurance to more than 
one million people.
This was, undoubtedly, a challenging year. The 
international stage was marked by the US-China 
trade war and the long, drawn-out Brexit process, in 
addition to various demonstrations in regions such 
as Hong Kong, Catalonia, France and Ecuador. Our 
country, meanwhile, experienced a series of protests 
beginning on October 18th that triggered one of 
the greatest social crises of recent decades. These 
events hit the industries we operate in quite hard 
and created new challenges for our companies in 
dealing with their stakeholders, which is particularly 
important given our leading role in such important 
areas such as health, pensions, entrepreneurship 
and lending.
The situation did not distract us from our commitment 
to sustainable development. On the contrary, in 2019 
we continued to reinforce our conviction about the 
importance of considering social, environmental and 
governance issues in our management. An important 
milestone in this regard was the development of a 
Corporate Sustainability Strategy, which has allowed 
us to define pillars of action to deepen positive 
impacts for our stakeholders. Each subsidiary is 
currently developing its own strategy, using corporate 
guidelines as a basis and adapting them to their 
individual areas of operation. 
We also set up the Corporate Sustainability Committee 
to make sustainable management more systematic. 
Directors and two of our senior executives sit on this 
committee. This committee meets quarterly to follow 
up on implementation of our Sustainability Strategy 
and to suggest areas of improvement and action 
plans. Each subsidiary also has its own committee 
which operates in a similar fashion as the corporate 
ILC committee, for the purpose of providing guidance 
and aligning subsidiary-level sustainability strategies.  
In addition to the above, in 2019 we hit other 
milestones that reflect our ongoing progress toward 
integrating sustainability into our operations. For 
instance, for the second consecutive year we were 
listed on the Dow Jones Sustainability Index for 
the Latin American Integrated Market (MILA) and 
the Chilean market. Moreover, we applied ESG 
Compass indicators to all of our companies once 
again. These have been instrumental in allowing us 
to identify gaps and challenges in how we go about 
our business.   ILC became a member of Global 
Compact, an organization that works to encourage 
private sector entities to contribute to the Sustainable 
Development Goals (SDG). This report constitutes 
our first annual Communication on Progress (COP) 
for this initiative. 
We wanted to structure this report around the 
four strategic pillars we defined in 2019. The first 
pillar upholding our strategy aims to foster greater 
inclusiveness, quality and access toward the 
Pablo González F.
Chief Executive Officer of ILC
“In 2019 we made significant progress on sustainability. Firstly, 
ILC and all of our companies have established board sustainability 
committees, and created a sustainability strategy for each company. 
We used the ESG Compass tool for the second consecutive year 
to construct a materiality matrix, which provides us with the direct 
perceptions of our stakeholders with respect to social, corporate 
governance and environmental matters, and this information is 
central to our Sustainability Strategy.”
5
4

Pablo González F.
CHIEF EXECUTIVE OFFICER OF ILC
In light of the aforementioned situation, the Company 
has focused its actions on four main areas: ensuring 
the wellbeing, health and safety of our employees, 
customers and suppliers; adapting the company 
to the new reality; preserving our financial position 
and operating cash flows; and continuing with our 
social impact actions, which are part of our DNA.
Nowadays, many staff members at ILC and our 
subsidiaries are working from home. The only 
exceptions are members of the medical staff at 
RedSalud, and employees working at branches. For 
these purposes, the most rigorous safety measures 
have been put in place. Likewise, most of our customer 
services are now available 100% online as a result 
of the contingency, so as to protect the health of 
members and employees.
Regarding steps taken by different companies to 
provide benefits to their customers and communities, 
Confuturo was the first company in Chile to offer 
remote annuities, in addition to encouraging 
electronic pension payments. As for catastrophic 
health insurance, the organization voluntarily added 
COVID-19 coverage to its policies, and created life 
insurance plans for healthcare workers. Likewise, in 
the senior segment, Confuturo offered its customers 
several options to repay consumer loans, along with 
setting up an exclusively online platform offering 
courses and entertainment, which is aimed at a 
population group that is isolated for health reasons.
Some 40% of Banco Internacional’s customers are 
small and medium enterprises. As a result, the Bank 
contacted each and every one of them in order to 
assess their situations and offer payment options, 
when appropriate. Similarly, the organization is offering 
FOGAPE-backed loans to support its customers’ 
financial situation. 
Consalud has focused its efforts on supporting its 
members by adopting concrete COVID-19 measures. 
For instance, no co-pay for coronavirus testing, 24/7 
online doctor’s appointments for only Ch$1,000 and 
free, over-the-phone psychological and nutritional 
care, to mention a few.
At Vida Cámara, the company decided to voluntarily 
provide insurance coverage for appointments related 
to COVID-19 treatment. Moreover, a life insurance 
policy was drawn up for healthcare workers, along 
with the provision of orders for vaccinations and 
simple tests so that individuals can continue receiving 
treatment without having to set foot in a medical 
center, given the current local situation.
Lastly, ILC plays an important role in providing 
treatment to COVID-19 positive patients at RedSalud 
facilities. This organization is the largest, private 
healthcare provider nationwide, providing coverage 
and services through more than 4,500 healthcare 
employees, 3,500 consulting physicians, 3,000 
administrative staff members and more than 1,000 
dentists who are all part of the nationwide network 
spanning the entire length of Chile. From the very 
beginning, RedSalud and every one of its employees 
have focused their efforts on fighting the global 
pandemic and, as such, saving lives.  This has 
also involved making changes to its care model by 
reinforcing customer education and information 
measures and even launching new patient care 
delivery methods such as telemedicine.
All of the above-mentioned advances are designed 
to provide concrete support to each and everyone 
of our stakeholders. As we face the greatest health 
challenge of the century, and one of the greatest 
social demands in recent decades, we need everyone’s 
support in order to move forward. 
I would like to close this message by extending a 
special thanks to all our stakeholders, and inviting 
them to continue supporting us in the task of building 
a more sustainable business and society.
Yours faithfully,
Message from the CEO
We believe it is incumbent upon us to contribute to 
public debate on matters concerning the industries in 
which we operate. This is our third strategic pillar.  Each 
of our subsidiaries has been actively involved in the trade 
associations representing them. Also, we have worked with 
expert organizations to contribute to specific matters of 
public interest.  In the case of Confuturo and Consalud, 
both subsidiaries have entered into agreements with 
Universidad Católica de Chile in order to provide support 
for aging and HIV, respectively.   Meanwhile, RedSalud 
rolled out the second version of an international congress 
with some 600 attendees. 
Our fourth strategic pillar consists of promoting responsible 
investment. ILC issued its first social bond in accordance 
with the Social Bond Principles (SBP) of the International 
Capital Markets Association. It was the second IPSA 
company to issue this type of instrument. The funds 
were earmarked for Banco Internacional loans to micro, 
small and medium enterprises. Furthermore, Confuturo 
has allocated Ch$790 million pesos to projects aimed at 
resolving social and/or environmental problems, through 
Ameris Capital’s FIS 2.0. A total of 48.6% of this subsidiary’s 
portfolio is made up of ESG investments. 
Promoting responsible investing is not only about our 
investment portfolio since we have taken it upon ourselves 
to be a sustainable asset for our investors as well. We 
aspire to being a company that invests responsibly while 
also actively measuring and managing our environmental 
footprint. We have made considerable progress in the area 
of operational eco-efficiency, and several of our subsidiaries 
are digitalizing processes, which will enable significant 
savings in terms of paper use and waste. We reduced 
our scope 1 and 2 carbon emissions by nearly 35% at 
our corporate offices, in comparison to 2018. Furthermore, 
this year we conducted a much more exhaustive Carbon 
Footprint measurement campaign, in which for the first 
time we included three Metropolitan Region RedSalud 
hospitals, as well as expanding the number of scope 3 
sources measured at all subsidiaries. 
Just when it seemed that the political, social and 
constitutional debate would set the framework for our 
2020 strategic plan, we were faced with the emergence 
and rapid spread of the COVID-19 pandemic. Both 2019 
and 2020 have shown us how important it is to have a 
flexible organization that can respond quickly to changes 
as they arise, in accordance with each company’s market 
leadership in their respective industries. 
7
6

Profile and 
Corporate 
Governance
9
8

Our Company was founded in 1980 to run a corporate group that provides 
services essential to the development of the country in the financial and health 
sectors through companies such as AFP Habitat (pensions), Confuturo (life 
insurance), Banco Internacional (banking), RedSalud (healthcare provider), 
Isapre Consalud (mandatory health insurance) and Vida Cámara (supplementary 
health insurance). ILC currently has operations in Chile, Peru and Colombia with 
over 14,000 employees between the three countries. Our largest shareholder is 
the Chilean Chamber of Construction, which has a 67% interest in the company.
Introduction
Value Creation Model
Guidelines and long-term 
vision that align the 
organization
Maximizing 
economic and 
social value
Analyzing
external growth 
opportunities
Maximizing 
internal value
Dividends
Dividends
Investors
Subsidiaries
Exterior
Mission:
We aim to improve quality of life for everyone, by providing efficient 
and accessible services in the pension and health sectors, thereby 
creating value, efficiency and sustainability.
Values: 
At ILC, we promote ethics, an attitude of service, customer focus, 
job excellence and team work. We also seek to educate on savings 
and health issues, in order to improve our customers’ quality of 
life and wellbeing.
Vision: 
We want our subsidiaries to become leading companies that can sustainably 
meet pension and healthcare needs, while continually increasing shareholder 
value, all in keeping with the framework, values and principles established 
by the Chilean Chamber of Construction.
11
10

•	 CChC invested US$18 million 
in 2019 in social projects 
benefiting construction 
workers and their families
•	 4 million medical appointments 
per year in RedSalud
•	 AFP Habitat has led returns 
since the creation of multi-
funds
•	 Active fiduciary role at AFP 
Habitat
•	 Confuturo is the largest 
pension payer in Chile with 
over 100,000 payments per 
month
•	 7 million medical tests per 
year at RedSalud
•	 US$645 million in healthcare 
and medical leave coverage 
at Consalud
•	 30% of RedSalud patients 
covered by Fonasa
•	 AFP Habitat promotes pension 
education
•	 Confuturo is the first institution 
to invest in a social impact 
fund
•	 US$948 million in loans to 
SMEs
•	 85,000 surgeries in RedSalud
•	 65% of Vida Cámara beneficiaries 
covered by Fonasa
•	 US$76.2 billion AuM AFP 
Habitat
•	 US$8.8 billion AuM Confuturo
ILC’s Social 
Service Role
Since our founding, we have adopted a social service 
role that we attempt to instill in all our operations. 
Thanks to the widespread coverage of our services, 
we have a nationwide presence, which enables us 
to provide quality solutions in strategic markets. 
Likewise, some of the benefits resulting from these 
activities become social investments—through 
CChC—that have a positive impact on the lives of 
construction workers and their families. In 2019, the 
Chilean Chamber of Construction invested US$19 
million in social projects for the construction sector. 
These were financed primarily through ILC dividends.
It is important to note that, through our companies, 
we are the leading payer of pensions in Chile, as well 
as the largest institutional investor nationwide. We 
provide access to healthcare solutions throughout the 
country, to patients insured under both private and 
public health insurance policies. We are an institution 
that provides banking access to a variety of small 
and medium enterprises.  We are fully dedicated 
to inclusiveness, and aim to improve access and 
opportunities for society as a whole.
13
12

Materiality
At ILC we believe in constantly reviewing the 
challenges faced by each of our subsidiaries, as well 
as strategic matters and progress towards sustainable 
development. To this end, we are concerned with both 
the general and specific operational aspects of each 
of our companies, and their respective stakeholders. 
At the end of 2018, ILC performed an exhaustive 
exercise to update the corporate materiality matrix that 
guides our strategic sustainability management. Out 
of the more than 40 issues identified, the Company 
ultimately selected and prioritized the following 14 
which were subsequently subdivided into three areas: 
economic, social and environmental.
Although the 2018 materiality matrix remains in 
effect, in 2019 the Company identified some emerging 
issues that could potentially have an impact on ILC’s 
business and its relevant stakeholders. Accordingly, 
interviews were conducted with the main divisions at 
our corporate headquarters in order to understand 
which topics may take on more relevance in the 
near future.  As a result, three areas were given 
higher priority:
•	 Adapting to the legislative environment: multiple 
discussions on health and pension sector regulations 
heated up in Chile following the October 18th civil 
unrest, highlighting the importance of adapting 
our businesses to new legislative frameworks.
•	 Data privacy: In view of the digitalization processes 
underway at our subsidiaries, the importance of 
protecting sensitive customer data is becoming 
increasingly apparent.
•	 Macro-social trends: the increased number of 
social movements taken place in 2019 and their 
marked presence in Chile call for paying more 
attention to potential demands regarding healthcare, 
pensions and debt.
1
Ethics, Integrity and Transparency
8
Financial and Health Education
2
Ethical Business Processes
9
Human Capital Development
3
Economic and Financial Performance
10
Demographic Changes
4
Corporate Governance
11
Contribution to Public Debate
5
Customer Satisfaction
12
Technological Challenges
6
Attracting and Retaining Talent
13
Our Commitment to the Community
7
Sustainable Finance
14
Environmental Management
Material Aspects - ILC
Importance to External Stakeholders
Importance for the Company
13
14
12
11
10
8
7
9
6
4
3
2
5
1
Economic Aspects
Social Aspects
Environmental Aspects
15
14

Sustainability Platforms
and Commitments
In recent years, a considerable amount of effort has 
been invested in integrating sustainability into our 
corporate strategy, and it will continue to be a core 
component of decision-making at the Company. 
Constantly monitoring the most relevant or material 
issues in this area becomes essential to the integral 
development of the Company, especially in light 
of the Sustainability Strategy. To this end, we have 
employed global platforms and tools through which 
we are able to better assess our performance in 
economic, social and environmental matters. 
Communication on Progress 
In August 2019, ILC joined Global Compact, a United 
Nations (UN) initiative. This implies that we pledge to 
integrate sustainability into ILC’s corporate strategy 
and support the UN Sustainable Development 
Goals (SDGs). These are meant to be conveyed 
to organizations in order to put an end to poverty, 
protect the planet and ensure that all people enjoy 
peace and prosperity1. 
Moreover, we have been called upon to ensure 
compliance with the Ten Principles of the United 
Nations Global Compact, which are based on the 
pillars of Human Rights, Labor, the Environment and 
Anti-Corruption. This report presents the progress 
made by ILC in relation to that commitment and 
the Ten Principles, which are listed below.
1	 Website of Global Compact Network Chile.
Dow Jones Sustainability Index 
One of the key instruments we use to measure our 
sustainable performance for our investors is the Dow 
Jones Sustainability Index, a platform that assesses 
environmental, social and governance parameters. 
Thanks to the commitments adopted and our 
continuous work in these areas, we managed to 
remain in the Chilean and Latin American Integrated 
Market (MILA) indexes for the second consecutive 
year. This is a key sign of confidence sent out to 
our stakeholders.
 
ESG Compass 
This was the second year we applied ESG Compass 
indicators to our corporate headquarters and 
subsidiaries alike. This consists of an evaluation 
based on the SSIndex methodology (Stakeholders 
Sustainable Index), which provides information 
regarding sustainability issues that market agents 
and investors consider relevant to their investment 
decisions. Through this instrument our companies 
have identified gaps and rolled out improvement 
plans in a variety of areas such as anti-corruption, 
community engagement, supplier operations, diversity 
and inclusiveness, health and safety, compensation 
structure, among others. 
Ten Global Compact Principles 
Human Rights 
Principle 1 
Businesses should support and respect the 
protection of internationally proclaimed human 
rights, within their sphere of influence.
Principle 2 
Businesses should make sure their partners and 
employees are not complicit in human rights 
abuses.
Labor
Principle 3
Businesses should uphold the freedom of 
association and the effective recognition of the 
right to collective bargaining.
Principle 4
Businesses should support the elimination of all 
forms of forced and compulsory labor.
Principle 5
Businesses should support the effective abolition 
of child labor.
Principle 6
Businesses should support the elimination of 
discrimination in respect of employment and 
occupation.
Environment
Principle 7
Businesses should support a precautionary 
approach to environmental challenges.
Principle 8
Businesses should undertake initiatives to promote 
greater environmental responsibility.
Principle 9
Businesses should encourage the development 
and diffusion of environmentally friendly 
technologies.
Anti-Corruption
Principle 10
Businesses should work against corruption in all its 
forms, including extortion and bribery.
Other Platforms
17
16

Sustainability 
Strategy
Redefining materiality was one of the areas we 
worked on in 2018, while we focused on developing 
the Sustainability Strategy in 2019, in order to align 
Company policies and programs with sustainable 
development and create value for our stakeholders. 
Efforts involved in defining this strategy consisted of 
compiling a benchmark of the best practices adopted 
by leading financial and health sector companies, 
which has served as a reference for our Company’s 
ambitions. Meanwhile, the topics listed on the 
materiality matrix were classified into the following 
categories: those required for the company’s basic 
operations, those related to stakeholder expectations 
and those that provide an opportunity to stand out 
from the rest. ILC used this classification to define 
the guidelines for implementing sustainability in 
the company.
In August, ILC held a meeting with its senior 
management to work on defining the main pillars and 
actions associated with the Sustainability Strategy. 
Out of this workshop came the final version of the 
Company’s Sustainability Strategy, with its associated 
pillars, ambitions and Sustainable Development 
Goals (SDGs).  Lastly, a model was presented to and 
validated by the Company’s Executive Committee 
and Board of Directors. 
This strategy defines four pillars which are aligned 
with the United Nations Sustainable Development 
Goals and its 2030 Agenda.       
The four pillars are:
1.	 Responsible Investment 
	
We seek a business model with a long-term 
sustainable vision. We understand that investments 
must be responsible in two ways: at the investment 
decision-making level at ILC and its subsidiaries, 
and in terms of our pledge to be a responsible 
investment for our stakeholders. This translates 
into multiple measures including adding ESG 
variables into our financial and investment 
decisions, operational eco-efficient operational 
decisions, and measuring our carbon footprint.
2.	 Inclusiveness and Access 
	
We strive to close gaps in access for priority 
groups, following strict ethical standards.  To 
this end, we provide information, tools, products, 
services and roll out initiatives that enable the most 
vulnerable groups to make informed decisions 
that positively impact their quality of life and 
future. 
3.	 Contribution to Public Debate 
	
We strive to build trust-based relationships with 
all our stakeholders. As we participate in highly-
regulated industries, ILC and its subsidiaries’ 
involvement in both public and private business 
initiatives is critical. We are committed to being 
a benchmark in the industries in which we do 
business and encouraging better performance 
for the benefit of customers.
4.	 Service Culture 
	
We strive to encourage, train and motivate our 
employees with the highest ethical standards 
and a strong commitment to our social role. 
We understand that our people are the basis 
for delivering the best service and we want all 
of them to share this special sense of pride that 
sets us apart from the rest of the market. 
The Sustainability Strategy will guide the group’s 
actions when facing challenges over the next few 
years. This strategy also aspires to channeling our 
efforts into complex and changing contexts that are 
very demanding and active from a social perspective, 
such as the events that took place in Chile at the 
end of 2019. It is important to note that, although 
ILC has worked on a Sustainability Strategy for the 
entire group, each subsidiary is adapting this strategy 
based on the same four pillars to create its own 
strategy under the same general guidelines. These 
strategies will be finalized and published in 2020.
              
RESPONSIBLE 
INVESTMENT
A business model 
with a long-term
sustainable vision.
Aspiration: 
To incorporate ESG 
factors into our investment 
management and our 
own businesses, to invest 
responsibly and be a 
responsible ESG investment 
for our investors. 
Aspiration: 
Reduce the obstacles 
to financial and health 
services through 
information, tools and 
initiatives provided by ILC 
subsidiaries that afford 
priority groups greater 
knowledge and access.
Aspiration: 
That ILC and its 
subsidiaries are effectively 
perceived as active 
corporate citizens that 
contribute constructively 
and differentiate 
themselves from the rest of 
the industry. 
Aspiration: 
To have motivated and 
trained teams of individuals 
with the highest ethical 
standards and a strong 
commitment to the 
social role of ILC and its 
subsidiaries.
INCLUSIVENESS 
AND ACCESS
Closing gaps 
to provide access
to priority groups.
CONTRIBUTION TO 
PUBLIC DEBATE 
Relationships of
mutual trust with
all our stakeholders.
CULTURE OF SERVICE 
AND ETHICS
A team with a service 
vocation and strong 
ethical standards.
SDG:
SDG:
SDG:
SDG:
19
18

In summary, the Sustainability Strategy is the 
Company’s way of engaging with its various 
stakeholders. The Company is constantly monitoring 
its performance with tools such as DJSI and the 
SSIndex, in addition to being immersed in a global 
ecosystem and committed to the Sustainable 
Development Goals until 2030. ILC’s Sustainability 
Model can be summarized as follows:
Inclusiveness
and Access
Culture of
Service and
Ethics
Contribution
to Public
Debate
Responsible
Investment
ILC and Subsidiaries’
Sustainability
Strategy/Committees
Global
Organizations
& Goals
Management
Tools
Customers
State,
Authorities,
Regulators
Society
Employees
Shareholders
and Investors
Suppliers
Environment
Stakeholders
Sustainability Strategy
Corporate
Governance
ILC’s operations are based on the objectives and 
expectations of each subsidiary. This, coupled with 
the fact that we operate in areas that are key to Chile’s 
development and fundamental to the wellbeing of 
our customers, makes it imperative to have strict 
management, ethics and safety standards. 
ILC’s Board of Directors is the principal corporate 
governance authority and is responsible for leading 
and defining the entire Company’s mission, vision 
and objectives. It also defines and conveys the 
Company’s responsibilities, tools and culture. In this 
regard, the Board’s role is to provide the objectives and 
guidelines to enable the organization to contribute 
to sustainable development while also generating 
value for its stakeholders. 
Our corporate governance practices are governed 
by our bylaws, Law 18,046 (the Corporations Act), 
Corporate Regulations established in Supreme Decree 
702 from the Finance Ministry dated 2011, and Law 
18,045 (the Securities Market Act). The Company 
is supervised by the Securities Inspectorate, which 
reports to the Financial Market Commission. 
Main Functions and 
Characteristics of the ILC 
Board:
The main functions of the Board consist of setting 
the organization’s objectives, policies and strategy, 
which must be implemented by management. This is 
achieved at monthly meetings with the objective of 
analyzing Company performance, its risks, strategies 
and medium and long-term plans.
•	 In accordance with its bylaws, ILC is directed by 
a Board of seven members elected at the annual 
general meeting. As a result, the Company does 
not have a say in director appointments. 
•	  Our directors are appointed for a one-year term, 
and may be re-elected. The Chairman of the Board 
is also appointed for a one-year term, which can 
be renewed for another term.
•	 Our Board members can participate as guests at 
subsidiary board meetings. The purpose of the 
latter is to clearly understand the strategy and 
issues facing each of the subsidiaries making up 
ILC.
•	 Each year, the Company completes the Corporate 
Governance Assessment provided under NCG 
385. This contains questions related to board 
performance, covering various issues such as 
number of board meetings, information systems 
and continuous improvement systems, etc. This 
assessment is certified by BH Compliance and 
submitted to the Financial Market Commission.
Board of Directors 2019-2020:
•	 Sergio Torretti C., Chairman 
	 Accountant, Instituto Comercial Superior. Mr. 
Torretti has extensive experience in the Chilean 
construction and real-estate sectors, in addition to 
having played a key role in education and training 
at CChC. He joined the ILC Board in 2010 and 
held the position of Chairman of ILC and CChC 
in 2016. 
•	 Patricio Donoso T., Vice Chairman 
	 Civil Engineer, Pontificia Universidad Católica de 
Chile and Master’s of Science in Engineering. Mr. 
Donoso joined the Board of ILC in 2018 when 
he accepted the position of Chairman of CChC. 
He has held several positions in areas related 
to construction in addition to working at social/
charitable organizations such as Fondo Esperanza, 
Trabajo en Calle and Un Techo para Chile.
21
20

•	 Jorge Mas F., Board Member 
	 Civil Engineer, Universidad de Chile. Mr. Mas has 
a strong track record in the construction sector. 
In 2014, he was appointed Chairman of the Board 
of ILC, and then Vice Chair in 2016. He presided 
over CChC from 2014-2016. 
•	 Fernando Coloma C., Independent 
Director 
	 Business administration, Pontificia Universidad 
Católica de Chile and Master’s in Economics, 
University of Chicago. Mr. Coloma has been a 
professor at Pontificia Universidad Católica since 
1980. He joined the ILC Board in 2017 as an 
independent director.
•	 René Cortázar S., Independent Director 
	 Business administration, Pontificia Universidad 
Católica de Chile, and PhD in Economics, 
Massachusetts Institute of Technology (MIT). 
Mr. Cortázar has enjoyed a distinguished career 
in Chile’s public and private sectors. He joined the 
ILC Board in 2014 as an independent director and 
continues in the post to date.
•	 Iñaki Otegui M., Director 
	 Industrial engineering, Universidad de Chile and 
MBA, Universidad Adolfo Ibáñez. Mr. Otegui has 
had a lengthy career in trade and other types 
of associations, having run companies such as 
Cementos Bio Bio and Edipac. In 2019, he was 
appointed to the ILC Board.
•	 Varsovia Valenzuela A., Director 
	 Business administration, Pontificia Universidad 
Católica de Chile. Ms. Valenzuela has had a 
distinguished career in the financial sector as 
head of various divisions at RBS and ABN Amro. 
In 2019, she was the first woman appointed to the 
ILC Board.
Meetings
2019 ILC
Number of board meetings held in 
the year 
12
% average annual board meeting 
attendance 
97.6%
Director Profile
2019 ILC
Number of independent directors
2
Number of directors who are 
members of at least five other 
boards of directors (of publicly-held 
corporations)
0
Number of woman directors
1
Age of board members
2019 ILC
40-60 years
2
61-70 years  
4
Over 70 
1
Corporate Governance
Sustainability 
Committee
At ILC we are constantly working on including 
sustainability in various processes.  To that end, 
we realized it was necessary to define a common 
strategy and roll it out across the entire institution. 
That is why the ILC Sustainability Committee was set 
up in 2019. Two board members, the CEO and the 
Chief Investor Relations and Sustainability Officer sit 
on this committee. Other ILC and subsidiary board 
members and employees are allowed to sit in on 
this committee’s meetings as guests. The following 
members sat on the Directors’ Committee in 2019: 
Iñaki Otegui (Director and Committee Chairman), 
Patricio Donoso (Director), Pablo González (Chief 
Executive Officer) and Trinidad Valdés (Chief 
Investor Relations and Sustainability Officer), and 
met three times. 
Regarding its operations, the committee regularly 
monitors implementation of the Strategic Sustainability 
Plan both at ILC and its subsidiaries, and analyzes 
the corresponding implementation reports, while 
suggesting areas of improvement and action plans. 
The committee meets quarterly and on special 
occasions when necessary or upon request directly 
by the Board of Directors. 
This matter is so important to the Company that in 2019 
all of its subsidiaries set up their own Sustainability 
Committees with a structure and operations similar 
to ILC’s. In this regard, these committees have made 
it possible to align sustainability directives as well 
as the individual strategies established by each 
subsidiary, in keeping with their particular business 
purpose, culture and environment.
23
22

Ethics Guidelines and 
Crime Prevention Policies
Doing business ethically and with integrity is essential 
to keeping the trust of our investors, customers 
and other stakeholders. At ILC we have explicitly 
pledged to conduct our activities in keeping with 
the above, as reflected in publications such as the 
Code of Conduct and Ethics. The Code of Conduct 
and Ethics provides rules regarding responsibilities 
incumbent upon individuals and groups, in addition 
to employees, customers, suppliers, investors and 
stakeholders in general.
Code of Conduct and Ethics
The Code of Conduct and Ethics establishes guidelines 
regarding investor and customer communications, 
use of information, using and operating assets, and 
what is expected and required of our employees, so 
as to prevent conflicts of interest from arising and 
other actions that could have an impact on ILC’s 
activities on the terms that we have pledged to uphold. 
Rules stipulated under the code seek to ensure:  
•	 Confidential information is secure and protected 
•	 ILC assets are protected and appropriately used 
•	 ILC employees, customers and suppliers are treated 
well 
•	 Disclosures in financial reports and other public 
communications are accurate, timely and 
understandable
•	 There are incentives to report any unlawful or 
unethical behavior
•	 There are standards of employee conduct to avoid 
conflicts of interest
•	 There are standards for addressing public officials 
to avoid conflicts of interest, bribery or corruption.
Each employee receives a copy of the Code of 
Conduct and Ethics when they begin working for 
the Company, along with an orientation regarding 
ethics and Law 20,393 (Criminal Liability of Legal 
Entities Act). Furthermore, each subsidiary has 
prepared its own publication and awareness plan 
covering these issues. 
Crime Prevention Model
Having crime prevention instruments is extremely 
important to ILC. The Crime Prevention Model is 
designed to protect the Company from the crimes 
of asset laundering, bribery, terrorism financing and 
others. To this end, we train all of our employees on 
a yearly basis in order to identify possible conflicts 
while also encouraging an organizational culture 
concerned with preventing crime and safeguarding 
ethics. Moreover, ILC reviews and monitors its corruption 
risks, both within and outside the Company. 
Company
Number of Code of 
Ethics Violations
Fines
ILC
0
0
Confuturo
0
0
Banco 
Internacional
2
 1
RedSalud
5
5
Consalud
8
1
Vida Cámara
0
0
In 2019, ILC did not record any Code of Ethics violations 
or fines, in line with the high ethical standards the 
Company and its subsidiaries strive to uphold. 
However, there were violations at some of our 
subsidiaries where appropriate measures and sanctions 
were taken to prevent them from reoccurring. Banco 
Internacional was fined UF 320 by the CMF for 
charging more than the Maximum Conventional 
Rate in 2014 and 2015. Moreover, it received a written 
warning for the same reason for 50 credit transactions 
in 2019.  RedSalud was also fined UF 2,020 by the 
Superintendency of Health in regards to several 
cases of non-compliance with its obligations to duly 
inform patients and the Superintendency. Consalud 
was fined a total of UF 3,300 for eight separate fines 
related to various regulatory violations. 
Changes Made to the Crime 
Prevention Model
In 2019, the Bank adjusted its Crime Prevention 
Model to broaden the scope to include new crimes 
that could affect the Company (Law 21,121) and 
requested certification by BH Compliance.
Regarding Confuturo, in 2019 the company conducted 
a full review of its Risk Model and Matrix. This resulted 
in the Compliance Manual (established under Law 
20,393 and UAF regulations) being split into the 
following two documents: Crime Prevention Manual 
(Law 20,393) and Terrorism Prevention Manual (UAF 
and CMF regulations). New crimes were also added 
to Law 21,121 as part of this review. 
Banco Internacional made changes to its Risk Matrix 
(which was in compliance with Law 20,939) when 
new crimes were introduced under Law 21,121. Its 
Crime Prevention Model is certified by Feller Rate. 
Regarding RedSalud, in 2019 it worked with its medical 
units to identify gaps in its model’s implementation, 
resulting in a common monitoring system. At present, 
the organization is working on the final versions of 
policies related to public officials, gifts, invitations 
and other matters. 
Consalud’s Crime Prevention Model for bribery, 
terrorism financing, and asset accepting and 
laundering is still certified. Crimes added under Law 
21,121 first undergo a review phase prior to subjecting 
the model to complementary certification.
Vida Cámara updated its Crime Prevention Model 
and documents related to Law 21,121 in 2019, in order 
to certify the new crimes added to the regulations 
in 2020. 
25
24

Risk
Management
The areas in which ILC conducts business face a 
number of risk-related challenges that make having 
a robust risk management and control model 
imperative. Specifically, at ILC we have a Risk Matrix 
that is updated monthly and reviewed in conjunction 
with each subsidiary.
In 2019, the Company added ESG criteria to its Risk 
Matrix thereby incorporating social, environmental 
and corporate governance risks, weighted according 
to customers, employees and suppliers. Similarly, 
the Company worked actively on cybersecurity and 
information security, a very important area of ILC’s 
operations given that we handle our customer data 
and sensitive information at the subsidiary level.
Likewise, internal manuals and policies were reinforced, 
such as the Good Corporate Governance Manual, 
Crime Prevention Model, Rules of Order, Health 
and Safety, Code of Conduct and Ethics, Market 
Information Manual, Tax Policy, Human Rights 
Policy, among others. 
Emerging Risks
The Directors’ Committee and the Controller’s Office 
play an active and key role in controlling risks at ILC, 
as they are in charge of defining and reviewing the 
parent company, as well as the current and potential 
risks faced by each subsidiary. Should a material 
issue arise, it will be reported to the ILC Board for 
discussion and review. In 2019, two major emerging 
risks were identified in terms of the medium- and 
long-term operations of ILC and its subsidiaries:
i. Risk of Regulatory Amendments 
We work in highly-regulated industries, which is why 
ILC’s operations may be affected and impacted by 
regulatory changes or amendments.  In this context, 
the new socio-political scene taking shape in Chile 
includes considerable legislative reforms in areas such 
as pensions and health, along with plans to hold a 
plebiscite that opens the door to the drafting of a 
new constitution. This presents us with challenges 
on several fronts, which will have to be addressed 
by ILC as a whole, as well as individually by each 
subsidiary. 
In order to be involved in the discussion on potential 
modifications, our subsidiaries actively participate in 
different trade organizations addressing healthcare, 
insurance and pension issues. Also, in 2019 various 
members of management at ILC and subsidiaries 
played an active role, expressing their opinions and 
contributions with respect to the different topics. 
This is how we decided to make ‘Contribution to 
Public Debate’ one of the pillars of our Sustainability 
Strategy, ensuring the wellbeing of our customers 
and stakeholders. 
ii. Information Security and Cybersecurity 
Risk
Considering that the operations of ILC and its 
subsidiaries involve handling and storing databases 
and sensitive customer information, as well as data 
related to the industries in which they operate, 
having efficient security systems that provide proper 
information protection mechanisms is essential. 
One of the main risk areas the Directors’ Committee 
focused on in 2019 was related to information 
security. Consequently, ILC and its subsidiaries 
conducted an ethical hacking assessment on their 
systems to measure their robustness, detect gaps 
in performance and draw up an action plan with 
improvements. 
ILC also took on an insurance policy to protect itself 
against potential information security breaches. 
Given constant advances in hacking, ILC has added 
this issue to its Risk Matrix and Materiality Matrix, 
so that it will be monitored on an ongoing basis. 
27
26

Inclusiveness 
and Access
29
28

According to the Financial Inclusion Report prepared 
by the Financial Market Commission (formerly 
SBIF), although most of Chile’s adult population has 
access to some financial instrument, only a third 
has simultaneous access to lending, savings and 
cash management products. This report also points 
out that more than 70% of the foreign population 
residing in our country does not have financial 
services coverage1. Moreover, a study published by 
the Health Ministry shows that the doctor-to-patient 
ratio in Chile is only 16 per every 10,000 inhabitants. 
This study also reveals that access levels are the 
lowest in Chile’s northernmost regions. In Atacama, 
for example, there are fewer than five specialists for 
every 10,000 inhabitants2.
1	 For more information, visit:
	
https://www.sbif.cl/sbifweb/servlet/Publicaciones?indice=15.3&idPublicacion=557&idContenido=12462&idCategoria=2501
2	 Study conducted in 2018. For more information, visit:
	
https://www.cooperativa.cl/noticias/pais/salud/medicos/informe-del-minsal-chile-registra-una-ratio-de-16-medicos-por-cada/2019-06-17/025147.html
Although our country has had remarkable economic 
growth in recent decades, there are still many gaps 
and inequalities that society as a whole must try to 
correct. This is not only incumbent on the government’s 
current administration, but companies can also get 
involved from within their own sphere of action.
At ILC we strive to contribute our own grain of salt in 
this area, by offering products and services to close 
the gaps in access to financial and health services, 
in addition to information, tools and initiatives that 
provide priority groups with more knowledge and 
access. We aspire to making health, pensions, 
insurance and financial services accessible to all, 
and we work every day to achieve this goal. That 
is why we consider this a key pillar within our 
Sustainability Strategy.
AFP Habitat
Confuturo
Banco Internacional
RedSalud
Consalud
Vida Cámara
One way of addressing this pillar is to make services 
more accessible to the community.  That is why we 
offer nationwide coverage, in addition to promoting 
digital service, which helps expand the customer 
base and patients served, providing extensive service 
opportunities in insurance, lending, pensions and 
healthcare.
Our main offices are located in Santiago and we 
serve the rest of the country through our subsidiary 
branches, centers and hospitals located in all of 
Chile’s regions. 
Similarly, digital platforms are becoming increasingly 
more important, and every year new strategies 
and plans are developed to bring the work of each 
subsidiary virtually closer to its customers and 
stakeholders. Today we already have the largest 
presence at the national level and, since we want 
to continue expanding access to our services and 
improving the quality delivered, using digital media 
is a priority.
Geographic Coverage
National Coverage
Inclusiveness 
and Access
Region
Branches
Tarapacá
Antofagasta
Atacama
Coquimbo
Valparaíso
O´Higgins
Maule
Bío Bío
Araucanía
Los Lagos
Aysén
Magallanes
Metropolitan
Los Ríos
Arica and Parinacota
Ñuble
31
30

New Branches
RedSalud opened a series of new facilities in 2019. 
New dental clinics in the Metropolitan Region 
(Parque Arauco, Manuel Montt, La Reina, Peñalolén 
and Independencia) and other regions (Copiapó 
and Talca). In addition, a Headache Center began 
operating at the Arauco Medical and Dental Center, 
and the Elqui RedSalud Hospital was expanded to 
increase the number of available beds.
As far as the rest of the subsidiaries are concerned, 
Banco Internacional opened a new business center 
in the city of Talca. In October, Confuturo set up a 
temporary branch in the Apoquindo Corporate building 
for customers, in order to facilitate services and care 
for people who experienced difficulties reaching 
the Miraflores branch as a result of the nationwide 
protests. Consalud also set up a mobile customer 
service center in the city of Castro. 
Apps and Virtual Branches
In addition to our regional offices located throughout 
Chile, each subsidiary has developed different types 
of digital services, in order to be present in every 
corner of the nation, either through applications for 
mobile devices or their websites. 
These self-service and remote service platforms allow 
customers and beneficiaries to access benefits such 
as reimbursements, scheduling medical appointments, 
online consultations, among other services, at all 
times every day.
Customers can use the website for various 
online transactions, such as the Annual 
State Guarantee Update Form, Certificates 
of Studies and Income Tax Return Updates. 
Customers can also use the self-service 
platform to manage various services and 
products, such as investments, service 
payments, loan applications, among others.
The website offers a wide range of 
digital services, ranging from booking 
appointments online to downloading 
laboratory and imaging test results, and 
requesting quotes for services.
In addition to the website, the company 
developed its own Consalud App, which 
surpassed 100,000 downloads in December 
2019, and the Ultrasalud App that patients 
can use to chat with a team of medical 
professionals.
Whatsapp was tested as a support tool for 
certain programs, along with self-service 
modules for branches and healthcare 
providers.
Furthermore, progress was made on the 
development of an online platform for 
taking out an insurance policy (“Contrata 
online”), which provides customers the 
option to contract health insurance and 
supplementary insurance plans through the 
virtual branch. 
There is also a mobile application and a 
private website available for policyholders, 
brokers and customer proxies, separated by 
segments. They also have the "5-50" digital 
product for SMEs, aimed at offering and 
quoting supplementary insurance and other 
group products.
(www.confuturo.cl)
(www.redsalud.cl)		
(www.consalud.cl)
(www.vidacamara.cl)
(www.bancointernacional.cl)
Inclusiveness and Access
Confuturo’s Customer 
Engagement Plans Online 
Advisor 
Aimed at customers in the individual 
life segment, Confuturo's customer 
engagement plan provides for direct and 
regular flow of information through a 
monthly newsletter with information on 
protection issues, savings, investments, 
policy renewal dates and product 
offerings to add to the suite of already-
acquired services.  
In addition, Confuturo launched its 
Online Advisor system along with a 
digital care model serviced by specialized 
executives through chat, video calls, 
phone calls and co-browsing. This 
system is supported by a Call Center 
and a Transactional Customer Portal.
Telemedicine at RedSalud
RedSalud’s objective is to offer telemedicine as a new service providing 
access to individuals who cannot attend their medical appointments 
in person because of geographical distance, travel time or limitations 
inherent to their health condition. Based on an agreement signed 
with the company TytoCare, in 2019 RedSalud conducted an in-
house assessment of a pilot program involving family members of 
RedSalud employees as well as some beneficiary companies under 
agreement, such as Caja Los Andes. The plan called for launching 
a telemedicine service on a robust web platform in 2020 in order 
to expand RedSalud’s reach to more remote areas of the country.
Supported by a mobile application for data transmission and a secure 
web platform, it is possible to perform remote video appointments 
and physical exams, which are independently operated by the 
patient or supervised by a health professional, either synchronously 
or asynchronously. 
I-MED Vida Cámara
In 2019, the I-MED platform was used to provide easy and simple 
access to customers at points of sale. More than 50% of all 
reimbursement requests were processed on this platform, thereby 
boosting the use of digital channels for reporting claims while also 
shortening the waiting period for customer reimbursements.
33
32

Demographic Changes
Projections for the year 2035 published by the 
Chilean National Institute of Statistics (INE) show 
that 82% of all districts in Chile will be inhabited by 
more individuals over 65 than under 15.   Likewise, 
a shrinking labor force, an aging population, lower 
birth rates and a higher life expectancy may have a 
direct impact on the subsidiaries’ business. 
With populations living longer, subsidiaries must 
adapt their products and services to these changes 
while adopting a different approach to this segment 
of customers who are increasingly active and 
demanding in terms of information.
Given how important it is to engage with the elderly, 
after holding its first international congress, RedSalud 
set up a working group to focus on this segment of 
the population. One of the outcomes of the group’s 
work was the Elderly Patient Care online training course 
which is aimed mainly at general practitioners and 
family doctors. An Elderly Emergencies workshop 
was also held as part of the preliminary side events 
held prior to the RedSalud 2019 Congress. 
In the case of Vida Cámara, education and 
transparency regarding information given to customers 
is fundamental. With regard to the demographic 
changes affecting the country, it is estimated that 
sales will take place mostly through digital channels 
as access to education and technological tools 
expands.  The new generation of older adults will 
also have another profile, which is why our sales 
force is making adjustments to the commercial 
strategy applied to this segment.
Customers
Customer Segmentation and 
Product Portfolio 
Our subsidiaries do business is a variety of different 
fields that are key to Chile’s development and the 
wellbeing of its people. As a result, each company 
delivers products that are designed for and tailored 
to specific groups of customers, providing value in 
keeping with their needs. Accordingly, getting to 
know our customers, their expectations and needs 
is paramount. By the end of 2019, we had more 
than five million customers and had supplied over 14 
million medical services throughout our businesses. 
Confuturo offers a range of products and services in 
the pension and insurance sector. Its customers are 
mainly divided into two large segments: Individual 
Life and Retirees 
Our individual life customers are grouped in this 
segment as a result of the stage of life they are in, 
and range from independent singles to people with 
consolidated families. Our products are designed to 
meet their needs regarding healthcare and disability 
coverage, savings, tax benefits and their school-
age children’s educational needs. Additionally, this 
segment has access to products for retirees including 
services related to annuities.
For the retiree segment, the company has defined its 
annuities target market as any individual of retirement 
age who meets the legal requirement established 
under Decree Law No. 3,500 of the Ministry of Labor 
and Social Welfare. Confuturo aims to pay them 
competitive pensions and offer them complementary 
services, such as consumer loans.
Banco International offers a range of financial 
products and services, in the following two key 
areas: Corporate Banking and Retail Banking, the 
first of which is more significant in terms of numbers 
of clients. Customers in the corporate segment are 
divided into three groups: small companies with 
annual sales ranging from Ch$300 million to Ch$2 
billion pesos; followed by medium-size companies 
with annual sales ranging from Ch$2 billion to 
Ch$7.5 billion pesos; and lastly, large companies 
that are defined as organizations who sales exceed 
Ch$7.5 billion pesos. The institution has strategically 
focused on small and medium-size enterprises, for 
many of which Banco Internacional is their main 
bank and therefore their primary source of access 
to lending and other financial services they need to 
run their business.
RedSalud is the country’s private health network 
with the largest coverage nationwide, with hospitals, 
medical centers and dental clinics located throughout 
Chile. Services are aimed at providing quality care and 
services at accessible rates to customers during their 
entire life cycle, in other words, from birth onwards. 
RedSalud aspires to making quality healthcare 
within reach of everyone in Chile, offering the best 
outcomes at the lowest rates, with special emphasis 
on the mid- and lower-income segments, thereby 
helping prevent disease and illness and keeping all 
Chileans healthy. In line with the above, RedSalud 
has different types of health insurance options 
through which it provides care:  Isapre, Fonasa, Out-
of-Pocket, Armed Forces, Employee Benefit Funds 
(Cajas de Compensación), as well as patients 
who belong to corporate, municipal or foundation 
plans, and of course the uninsured (who pay out of 
pocket). Preferential rates and fixed-rate services are 
available for construction workers so that services 
are more accessible.
Isapre Consalud offers several different health insurance 
and supplementary insurance plans. Each plan offers 
different care alternatives (free-choice, single and 
preferred provider), while supplementary insurance 
plans can be relatively tailored to suit the health 
needs of each individual. In addition, Consalud offers 
support programs for customers with chronic and/
or serious illnesses, providing guidance on effective 
healthcare solutions and promoting healthy living. 
Most of Vida Cámara’s customers are organizations 
(both SMEs and large companies) that contract 
group health and life insurance products for their 
workers. Vida Cámara’s customer base is currently 
broken down as follows: public-sector employees, 
construction, real estate, retail, IT, and others. 
One of its flagship products is the “5-50” plan, 
designed for SMEs with five to 50 employees who 
have been traditionally excluded from this type of 
insurance. Not only does the product provide them 
access to an insurance policy, but it also includes 
a suite of benefits such as coverage for pre-existing 
conditions and legal dependents, and automatic 
renewal. This plan provides coverage for inpatient 
hospitalizations, maternity, medication, mental health 
and outpatient and specialized care benefits.
35
34

Customer Satisfaction  
Overall Satisfaction Measurements
As a parent company and given the characteristics 
and nature of its business, ILC does not have direct 
contact with customers. We use ESG Compass to 
measure and manage our customer and patient 
satisfaction rates at the subsidiary level. This 
provides us with a uniform, comparable approach 
to satisfaction ratings.
In addition, our subsidiaries have developed other 
customer satisfaction indicators for their respective 
target audiences, each according to the segments they 
serve under their business model. The most relevant 
aspects of these indicators for each subsidiary are 
described below.
In 2019, Confuturo conducted post-service surveys 
to measure its customer satisfaction rates for its 
annuities and life insurance products. According to 
these surveys, customer satisfaction rates exceed 
70%. Moreover, this subsidiary also conducted a 
Praxis Survey to measure customer experience. The 
life insurance segment yielded a 12-point improvement 
over last year’s results while the annuities segment 
dropped nine points.
This subsidiary used the net promoter score (NPS) 
instrument to measure customer satisfaction, resulting 
in a overall recommendation of 73% for 2019, and 84% 
for the Retail Banking segment. A significant jump 
in satisfaction was recorded during the first and last 
quarter on most of its platforms (except for Iquique 
and Santa Elena). When taking into consideration 
the annual rating conducted by Servitest, Banco 
Internacional ranked second industry-wide in terms 
of its SME account managers and received an NPS 
rating of 55 for senior management satisfaction.
Customers
This subsidiary works with the word-of-mouth 
recommendation (WOM) index, which is a standard 
international index used to measure customer 
experience on a scale of -100 to +100. It assessed all 
of its facilities separately—hospitals (48), outpatient 
medical centers (45) and dental care centers (45)—
for an overall RedSalud WOM score of 47, which 
translates into 85% compliance.
Consalud monitors customer satisfaction using 
daily post-service satisfaction surveys and reported 
an 87% satisfaction rate for its branches. Digital 
channels are also evaluated using App satisfaction 
rates (4.5 out of 5.0 for Android uses and 4.1 out of 
5.0 for iOS users) and surveys on Virtual Branch 
operations, which were awarded a 49% net overall 
satisfaction rate.
User experience is monitored through perception 
indicators, for instance, the post-service surveys 
at the Contact Center, and the post-claims closure 
survey.  The primary rating tool however is the 
NPS, which yielded a 69% satisfaction rate for the 
corporate segment, and a 21% satisfaction rate in 
the specific case of brokers.
Confuturo
Banco 
Internacional
RedSalud3
Consalud
Vida Cámara
KPI
2017
2018
2019
2017
2018
2019
2017
2018
2019
2017
2018
2019
2017
2018
2019
Number of 
Claims
769
832
637
49
56
48 19,830
24,293 20,569
25,639
15,873
20,824
3,003
3,005
3,094
Percentage 
of Claims4
0.6%
0.6%
0.5%
0.4%
0.4%
0.3%
0.3%
0.4%
0.4%
6.3%
3.8%
4.8%
3.2%
2.6%
0.9%
3	 Consolidated results for hospitals, medical centers and dental centers.
4	 Percentage of claims is calculated by dividing the company’s number of claims by the total number of customers per year.
Data Protection and Privacy
The industries we operate in call for using and storing 
sensitive customer information and data. That is 
why all our subsidiaries have rolled out different 
data privacy and protection initiatives to identify 
and prevent emerging risks, and detect fraud. Given 
the importance of this matter, we report on each 
subsidiary’s individual developments and progress 
in this area.
Confuturo has an Information Security Management 
System based on the Information Security Policy 
and the definitions established under the Market 
Conduct Policy. These practices and procedures 
were reinforced in 2019 in order to better protect the 
privacy and integrity of our customers’ information. 
In addition, the early stages of an action plan were 
set up to upgrade the Company’s data models in 
order to boost their confidentiality while reducing the 
risks of exposure. Lastly, an incident management 
procedure was developed in order to treat incidents 
with the utmost priority so as to mitigate their scope 
and effects.
Banco Internacional carried out face-to-face training 
for its employees to reinforce these concepts. 
Furthermore, the Company has defined user roles 
and profiles based on the principle of minimum 
privilege, and has taken measures to encrypt and 
mask sensitive data in transit and storage in order 
to protect access to digitally stored information. In 
addition, the Information Security Officer periodically 
monitors the system to ensure that customer 
information and data are safeguarded. 
Complaint Management
The various satisfaction indexes employed at each 
subsidiary allow the Company to take measures 
that translate into better care and potentially fewer 
complaints, as reported in the table below:
37
36

In 2019, no customer privacy violations 
or data leaks were reported. 
A total of 26 complaints were lodged on the ‘Do not 
disturb’ platform hosted by the National Consumer 
Service (SERNAC), in regards to unsolicited advertising 
from Confuturo.  All claims were resolved after the 
company proceeded to remove the individuals from 
their databases used for sending advertising material. 
As far as other subsidiaries are concerned, Vida 
Cámara received a complaint from a privately-insured 
customer, which was resolved once the company 
removed the policies from its website. 
Cybersecurity
All subsidiaries have guidelines or policies providing 
general provisions regarding the use of the Company’s 
information and technology, and procedures governing 
their management and control.
A series of initiatives were rolled out in 2019 in order 
to review processes, identify gaps and strengthen 
security and information protection systems, and 
also because this is considered to be an emerging 
risk for all subsidiaries. These initiatives include server 
support, monitoring, upgrading platforms, installing 
anti-virus programs based on artificial intelligence 
(Consalud), raising awareness among employees 
(Vida Cámara), contracting services such as 
cybersecurity insurance (Confuturo) and consulting 
services from technology partners such as Gartner, 
Kaiser Permanente and Google (RedSalud).
Customers
In 2019, RedSalud institutionalized a network-wide 
IT Security Policy. It states that the organization is 
responsible for protecting all types of data, placing 
sensitive patient information at the center of the 
strategy. This prompted the Company to begin 
revamping its information systems at the end of 2019, 
which entailed implementing and adopting security 
policies that are managed in Cloud environments 
(Google and Amazon). Both platforms adhere to 
world-class security standards.
At Consalud, information is treated confidentially and 
all violations constitute a financial and reputational 
risk, which is why they are detected and managed 
accordingly.  Processes and technological architecture 
have been designed with the security of customer 
data in mind so that the company can conduct 
regular data recovery exercises that assure information 
availability and integrity, and vulnerability assessments 
guarantee confidentiality. Moreover, digital processes 
are data encrypted.  
It is important for Vida Cámara to have security 
control mechanisms in place to protect information 
and prevent undue access, tampering, leaks or any 
other information security breach from happening. For 
several years now the company has been publishing 
guidelines regarding information management conduct 
and good practices. These are outlined under the 
Code of Conduct and Ethics, employment contracts, 
and the information security appendix attached to 
supplier contracts.   
In 2019, Vida Cámara created the role of Information 
Security Officer and an Information Security Policy. 
Lectures were given to employees to raise awareness 
regarding these changes.
Ethical Hacking:
Ethical Hacking is a tool designed 
to determine the vulnerabilities 
of information systems. It entails 
conducting a series of intrusion tests 
aimed at better understanding and 
assessing the security of information 
systems, computer networks, servers, 
data bases, etc. 
By implementing Ethical Hacking, 
companies can take preventative 
measures against potential attacks. 
In 2019, several subsidiaries worked 
with the consulting firm Neo-Secure 
to conduct Ethical Hacking exercises, 
for instance, Confuturo (on a quarterly 
basis), Banco Internacional, Consalud 
(both internal and external) and Vida 
Cámara (on their applications).
ILC outsourced a vulnerability assessment using the 
phishing methodology. In addition, Banco Internacional 
implemented several new anti-cyberattack protocols. 
The Information Security Officer worked closely with 
the Networks and Cybersecurity division that is in 
charge of rolling out system controls and processes 
as the first line of defense. In addition, the Internal 
Control area (third line of defense) has auditors 
specialized in IT who report directly to the manager 
of this division.
RedSalud set up IT security plans for each of the 
organization’s relevant projects, seeking to identify and 
mitigate IT risks that could emerge as the company 
implements these new technologies; while Vida 
Cámara set up an Information Security Committee 
and created the role of Information Security Officer, 
who led the implementation of a strategic framework 
based on this policy. 
Only three subsidiaries reported security breaches. 
However, none of them constituted grounds for a fine.
5	 Includes incidents from the table’s second category.
2019
ILC
Confuturo 
Banco 
Internacional
Red
Salud 
Consalud
Vida
Cámara
Number of information security 
breaches or other cybersecurity 
incidents
0
9
0
105
4
0
Number of information security 
breaches involving customers’ 
personal data
0
6
0
4
0
0
Number of fines/penalties 
paid in relation to information 
security breaches or other 
cybersecurity incidents
0
0
0
0
0
0
39
38

Our Company does business throughout all of 
Chile, in different economic sectors, which is why we 
constantly strive to maintain good working relations 
with relevant local players, our customers, employees 
and the communities we serve. Accordingly, each 
subsidiary has identified its stakeholders and the parties 
it may impact in its sector, in keeping with the issues 
that are of greatest concern to their organizations. 
With this in mind, our Company developed several 
initiatives throughout the year, which have translated 
into programs, activities, economic contributions 
and other outcomes. 
Donations and Commercial 
Initiatives for the Community 
Community engagement is part of our DNA at ILC, 
and is manifested through our active management 
of companies that are key to national development 
in areas such as pensions, insurance, healthcare 
and financing, thereby expanding society’s access 
to these services, and providing efficient, quality care 
at an accessible cost. 
Considering the nature of ILC as a company, its 
subsidiaries have a more robust presence in the 
field and in communities than the parent company. 
Moreover, our majority shareholder, the Chilean 
Chamber of Construction, earmarks a considerable 
percentage of ILC’s dividend distributions for social 
service projects aimed at construction workers and 
their families. In 2019, a total of US$19 million was 
allocated among over 290,000 benefits for these 
social service programs, which are primarily related 
to education/training, health, housing and wellbeing. 
Community Engagement 
and Contributions
In 2019, the company continued working predominantly 
with older adults. These activities were taken up a 
notch after we entered into an agreement with the 
Las Rosas Foundation under which we pledged to 
provide an annual donation and promote partners. 
Company volunteers visited convalescent Home 
No. 12 and raised funds through activities such as 
a traditional Turkey Dinner, 1+1 contributions and 
Jeans Day. This subsidiary also sponsored the Over 
60 Walk (see insert).
Over 60 Walk
As part of its activities to support seniors, 
Confuturo, Universidad Católica, and 
the Ministry of Sports partnered up to 
sponsor the Over 60 Walk. This event 
drew in more than 2,000 walkers from 
various neighborhoods surrounding 
UC’s San Joaquin campus. Confuturo 
raffled off a gym membership in order 
to encourage healthy living, physical 
activity and sports among individuals 
over the age of 60.
Espacio 360° at Espacio Urbano
In addition to its directly-sponsored 
activities, Confuturo has a unique 
opportunity to foster inclusiveness and 
access through its long-term investments 
in companies and projects. The Espacio 
Urbano chain of shopping centers is 
precisely one of these investments. 
These human-scale shopping malls have 
developed a community engagement 
program sponsoring activities for and 
by community members called Espacio 
360º. This program offers various 
activities and benefits for neighboring 
communities, such as sports and 
recreational activities, providing access 
to government services, markets where 
local entrepreneurs can display and 
sell their products, and cultural events. 
In 2019, the company carried out several volunteer 
charitable campaigns. One of these was the backpack 
and school supplies donation drive held in March to 
support the Maria de la Luz Foundation, an institution 
that provides protection and care to children whose 
rights have been violated. Another campaign was 
launched in December to collect and deliver holiday 
gifts to children at daycare centers in disadvantaged 
communities. Moreover, monetary donations were 
given to the above-mentioned foundation throughout 
the year.
Additionally, the company became a member of the 
Network of Inclusive Companies (ReIN), a group of 
companies whose objective is to invite and encourage 
companies to engage in the responsible and inclusive 
employment of people with disabilities, highlighting 
its social and economic benefits for the country. 
Some regional activities were held, mostly in the 
Coquimbo Region.
Community Engagement Work 
in the Coquimbo Region, at the 
Elqui Branch
As part of its well-rounded community 
support agenda, in 2019 RedSalud rolled 
out three initiatives through its hospital 
in Elqui. The first activity consisted of a 
New Year’s Eve Firefighters Benefit in La 
Serena where 40 volunteers sponsored 
a dinner for firemen on call during the 
night shift.
Another activity entailed providing care 
to at-risk patients who were referred 
by the Regional Government’s social 
assistance program for imaging and 
endoscopy exams, at no cost to the 
patient. Free-of-charge hip and chest 
X-ray exams were given to foster children 
under the care of the government-run 
Sename children’s home.
41
40

Other Regional Initiatives
Branch
Initiative
Tarapacá 
Region
In conjunction with CChC, 
RedSalud Hospital sets up 
and operates care kiosks in 
downtown Santiago. In 2019, a 
team of physicians, midwives, 
nutritionists, nurses and urgent 
case specialists provided a variety 
of services to 150 individuals, 
including medical appointments, 
pre-natal education, BMI 
assessments and blood glucose 
tests.
Valparaíso 
Region
The commercial area actively 
participates in community 
programs with different 
companies and at some large-
scale events in Valparaiso. It 
has served over 600 people by 
providing preventive screenings, 
such as BMI, blood glucose 
and blood pressure checks and 
chiropractic appointments along 
with preventive campaigns with 
preferential imaging prices.
The company has decided to contribute to the 
community through volunteer work aimed at 
generating value for the most needy sectors, while 
promoting healthy living and physical activity through 
its sponsorship of the Recreational Bike Path and 
the Viña del Mar Marathon (see insert).
Furthermore, 149 employees volunteered in support of 
children participating in the Olympic Challenge and 
who train at Chilean Olympic Committee facilities. 
Boys and girls alike received sneakers and sports 
gear in support of their athletic training. Employees 
donated either directly through a payroll discount, or 
based on the total number of kilometers traveled and 
recorded on an app. The company made a donation 
for every 1,000 kilometers traveled. 
Another initiative is the recycling drive where employees 
collect plastic caps that are then donated to the 
Coffee Ladies at Calvo Mackenna and San Juan de 
Dios Hospitals in support of pediatric cancer patients. 
Donations were also made to various organizations 
such as the Educación Nocedal Foundation and the 
San Alberto de Sicilia parish. 
“Walking with You” Program
Consalud launched this program six 
years ago in order to support customers 
dealing with challenging health issues—
whether cancer- or cardiac-related—and 
guide them through recovery. 
This program is available throughout all 
of Chile and consists of complementary 
activities for customers and their families, 
such as psychological support and 
artistic workshops such as art therapy, 
theater and venues for physical activity, 
among others.
Community Engagement and Contributions
Vida Cámara has donations and work scholarship 
programs available for the community.  Hogar de 
Cristo’s 1+1 Program consists of a program in which 
the company evenly matches employee monetary 
donations. 
OTIC work-related scholarships consist of donating 
1% of Sence funding to community programs.   In 
2019, the Company chose an NGO (La Esperanza 
Shelter) and CORESOL (a social rehab center) as 
beneficiaries of these donations. Both organizations 
sponsor job training workshops for inmates or 
recovering drug addicts so they can rejoin the job 
market. 
Total Contributions to the Community
Total cash contributions
Ch$ 65,375,115
Total in-kind donations
Ch$ 5,066,331
Total Contributions
Ch$ 70,441,446
Education and 
Support Programs 
ILC does business in areas that are essential to people’s 
wellbeing. That is why we aim to ensure that every 
decision our customers make is well informed. The 
challenge lies in addressing the issues of pensions, 
savings, investment and health, together with the 
community and our stakeholders. 
Accordingly, each subsidiary has established measures 
aimed at creating opportunities to educate the public 
and provide tools related to investments, financial 
planning, savings, responsible borrowing, encouraging 
healthy habits and other relevant issues. 
Consalud has outreach programs aimed at specific 
groups. For instance, “Cuido Mi Salud” is designed for 
patients with high blood pressure and type II diabetes, 
and provided benefits to over 4,000 customers in 
2019.  In addition, Consalud launched a pilot of the 
“Sanamente” program, with the aim of providing 
specialized mental healthcare to policyholders 
receiving certain treatments, so that they could 
return to work as soon as possible. More than 530 
individuals attended this first-time event.  
Banco Internacional held lectures for customers on 
corporate taxation and succession programs. As 
part of this program, the Chairman of the Board, 
CEO and other authorities traveled to branches 
in three regions to sit down with clients and talk 
about matters that would have an impact on their 
respective businesses.
43
42

Culture of Service
and Ethics
45
44

According to the Workstod study, conducted by 
Randstad Professionals Human Resources, Chile’s job 
turnover rate for the first quarter of 2019 amounted 
to 26.7%, representing a 5.2% increase over the 
previous period and the highest rate ever recorded 
since this measurement has been taken. Moreover, 
a research study led by Citrix in collaboration with 
Fundación País Digital has shown that in today’s 
world, work preferences are increasingly shaped by 
personal reasons such as proximity to home and 
flexible schedules.
ILC does business is the service sectors where its 
employees play a key role in the customer experience. 
Given our social service calling, we like for our people 
to share this distinctive trait that sets up apart from 
the rest of the industry and translates into a high 
level of empathy for our customers, whose needs 
we always place at the core of our actions.
Culture of Service
and Ethics
In this regard, meeting the needs of the broad spectrum 
of customers to whom we provide financial and 
healthcare services is surely a weighty challenge. We 
understand how vital our team of diverse, highly skilled 
employees is to our ability to rise to this occasion, 
and as such, we also understand how necessary it 
is to invest in their development and training and 
guarantee their health, safety and overall wellbeing. 
As a result, one of the pillars of our Sustainability 
Strategy is striving to instill a sense and culture of 
service and ethics in our human capital.
Employee Profile
As of year-end 2019, a total of 11,7081 employees 
worked at the various companies making up the ILC 
group nationwide. It is our intent that our staff be 
motivated to provide excellent services daily, thereby 
honoring the trust our customers have placed in us. 
That is why talent management, and developing 
1	 This figures does not include AFP Habitat, where ILC holds a 40.29% interest, and that employs close to 2,000 individuals. 
and promoting our people within the organization 
is an ongoing challenge at ILC, reflected in multiple 
programs and initiatives that are carried out at our 
companies.
At a consolidated level, ILC’s total workforce increased 
2.4% in 2019 compared to 2018, for a grand total of 
11,425 employees. 
of our employees are 
covered by collective 
bargaining agreements
of total workforce covered in job 
satisfaction surveys
average 
hours of 
training per 
person
258,772
68%
22.1 
86%
73%
of employees
are female
hours of total training
72%
of new hires are 
under 41 years
of age
47
46

Employees by Subsidiary
Given the sectors covered by ILC’s operations, the 
majority of our employees work in the healthcare 
sector, with 67% employed in medical and dental 
services at RedSalud, a subsidiary that also has the 
largest presence in terms of geographical coverage. 
Twenty-one percent (21%) of all ILC employees work 
in the health insurance business at Vida Cámara 
and Isapre Consalud, while 11% are employed in the 
financial sector at our subsidiaries Banco Internacional 
and Confuturo. With the exception of RedSalud and 
Banco Internacional, our companies have large sales 
forces. Lastly, less than 1% of the Company’s entire 
workforce works at the corporate headquarters, which 
had a staff of 23 at the end of 2019.
Total ILC Workforce in 2019
11,708
ILC
23
Confuturo
710
Banco Internacional
569
RedSalud
7,897
Consalud
2,276
Vida Cámara
233
ILC
0.2%
RedSalud
67.4%
Banco
Internacional
4.9%
Consalud
19.4%
Vida Cámara
2%
Confuturo
6.1%
Employees by Subsidiary
A total of 91.6% of all employees at ILC corporate 
and its subsidiaries had an open-term contract 
during the period, while 8.4% worked under a fixed-
term contract.
Employees by Gender
Women
73%
Men
27%
Most of ILC’s employees are women, accounting for 
73% of the total workforce in 2018 and 2019 alike. 
Broken down by subsidiary, the majority of our 
female employees are employed in the following 
four business units: RedSalud in the lead with 77%, 
followed by Consalud with 71%, and Confuturo 
and Vida Cámara tied at 63%. A total of 45% of all 
staff at Banco Internacional are women, while ILC 
corporate boosted its female workforce in 2019 from 
33% to 39%. Worth noting is ILC’s first female board 
member, welcomed to its Board of Directors in 2019. 
Moreover, a total of 3,433 new hires were made in 
2019, 65% of whom were women. In other words, 
for every male worker hired, the company hired two 
women, as shown in the table below:
New Hires 2019
Men
Women
Total
1,108
2,235
3,433
Percentage of Women by Company
39%
0
20
40
60
80
100
63%
45%
77%
71%
63%
ILC
Confuturo
RedSalud
Consalud
Vida
Cámara
Banco
Internacional
Female Workforce by 
Employee Category
A total of 35% of senior management at ILC and 
its subsidiaries are women (considering two levels 
under the CEO), which is similar in terms of gender 
diversity to 2018. The majority of personnel at this 
level at certain subsidiaries, such as RedSalud and 
Consalud, are female, with 47% and 31% female 
executives, respectively. At the supervisor level, the 
group reports 38% women, and a minimum of 25%. 
This figure is greater than 40% at RedSalud and 
Banco Internacional.
2	 Senior executives corresponds to positions up to two levels below the CEO. Department Managers and Supervisors include all other positions that 
are responsible for other staff members.
Percentage of Women 
in Each Employee 
Category
ILC
Confuturo
Banco 
Internacional
RedSalud
Consalud
Vida 
Cámara
Senior Executives2
17%
18%
23%
47%
31%
0%
Department Managers 
and Supervisors
0%
34%
41%
45%
26%
38%
Employees
57%
65%
46%
79%
72%
66%
Culture of Service and Ethics
49
48

35%
ILC
Under 30
Confuturo
RedSalud
Consalud
Vida
Cámara
Banco
Internacional
0
10
20
30
40
50
17%
30%
9%
9%
10%
29%
32%
25%
5%
17%
40%
28%
11%
5%
28%
38%
18%
10%
3%
12%
37%
26%
21%
4%
13%
39%
27%
18%
3%
31 to 40
years
41 to 50
years
51 to 60
years
Over 60
At a consolidated level, 71% of ILC employees have 
been with the Company for less than six years 
whereas 20% of them have been with us six to 12 
years. A mere 10% have been with us for over 12 years. 
Regarding the age of the Company’s employees, 
most employees at Banco Internacional, RedSalud, 
Consalud and Vida Cámara fall within the 31 to 40 
year-old category and the percentage of workers over 
60 hovers around 4%. In term of new hires, individuals 
under 40 account for 74% of the total. Although the 
majority of new employees fall within this age group, 
9% of all new hires are over the age of 51. 
New Hires
Under 30
1,262
30 - 40 years
1,286
41 - 50 years
579
51 - 60 years
264
Over 60
42
Total
3,433
Workforce Age by Subsidiary
Diversity and Inclusiveness
At ILC, having the greatest degree of diversity on our 
staff is both vital and strategic. Inclusiveness within 
the organization and among our own employees 
leads to job opportunities while also lending us a 
more enriched and diverse outlook from which we 
are able to better understand all of our customer 
segments, and in turn encourage inclusiveness 
outside of the organization. This is one of the pillars 
of our Sustainability Strategy.
In addition to the large number of female employees 
among our ranks, as of year-end 2019, 299 of our 
workers were foreigners, equal to 2.6% of our total 
workforce. This marks a key step forward for a 
society that is witnessing an ever increasing influx 
of immigrants.
Diversity and Inclusiveness Programs
One of today’s important challenges lies in generating 
additional space for workplace inclusiveness for individuals 
with disabilities. In response, our subsidiaries have put 
their commitment to diversity into action by implementing 
hiring and development practices for people with some 
type of physical and/or psychological impediment.
A working group formed at Confuturo several years ago 
focused efforts in 2019 on coordinating its recruiting 
process and preparing the workplace for the new 
arrivals. Banco Internacional hired an occupational 
therapist who assisted the company in defining and 
monitoring good practices that would create a more 
auspicious environment for the new hires.
RedSalud put into effect a plan to aid employees with 
disabilities in the process of obtaining their government 
disability card. This plan also entailed an awareness 
campaign and co-worker training.
Consalud’s Diversity and 
Inclusiveness Program
This program has been instrumental 
in enabling Consalud to have among 
its ranks 27 employees with disabilities 
as of December 2019. Several face-to-
face workshops were held throughout 
the year to raise awareness regarding 
diversity and inclusiveness among all 
employees.
In addition, the company has set 
up a program to support and assist 
employees with disabilities in adjusting 
to the workplace.  Along these lines, 
a social worker was hired to work 
with the Organizational Development 
Subdivision. She provides emotional and 
administrative support to employees 
with disabilities and employees who 
have family members with some form 
of disability. The Talent Attraction area 
is also expanding its selection process 
by working with inclusive portals.
On the Great Place to Work survey 
workers applauded the company’s efforts 
in terms of inclusiveness and diversity. 
Employee Makeup by Age and Years of Service
46.4%
0
20
40
60
80
24.4%
13.3%
6.3%
9.7%
Less than
3 years
3 to 5
years
6 to 9
years
10 to 12
years
More than
12 years
Employee Years of Service (Consolidated)
Consalud developed and enacted its Diversity and 
Inclusiveness Program with a view to building awareness 
and consciousness among its employees about 
treating persons with disabilities with respect, whether 
customers or co-workers (see insert).
Vida Cámara met the legal 1% quota in October 2019. 
It also made donations to the Contrabajo Foundation 
for each month in which it had not met the quota.
Culture of Service and Ethics
51
50

Labor Relations
Employees Represented by a Union or 
Collective Agreement
Workplace Environment
and Wellbeing
Employees
represented 
68%
Employees
not represented 
32%
Creating and keeping transparent relations with all 
our stakeholders is essential to the success of ILC’s 
business. In this regard, the ties between our workers 
and their representatives are of special importance, 
which is why each subsidiary has developed its 
own initiatives and instruments to promote proper 
relations among all players. 
In 2019, a total of 7,951 ILC employees were represented 
under collective bargaining agreements, equal to 
68%. A total of 13 collective bargaining processes 
took place during the reporting period along with 
one organized strike by the First National Union 
of RedSalud Heath Care Workers at Medical and 
Dental Centers. The parties reached an agreement 
following 30 days of striking. 
Occupational Health and 
Safety
Our commitment to our subsidiaries’ employees 
is reflected by a series of initiatives designed to 
foster healthy living and a culture of prevention in 
the workplace, encouraging wellbeing and good 
health for everyone throughout the Company. 
All our subsidiaries have joint health and safety 
committees whose members define action plans 
aimed at consolidating a culture of health and 
safety. At least 70% of all employees are represented 
on these committees, at every subsidiary. RedSalud 
alone has 38 joint health and safety committees 
given the breath of its operations.   
2019
Confuturo
Banco 
Internacional
RedSalud
Consalud
Vida 
Cámara
% of employees represented on joint 
health and safety committees
100%
71%
84%
82%
100%
Number of joint committees
4
1
38
13
1
*	 ILC is not included since it has fewer than 25 workers. 
Our subsidiaries developed various initiatives aimed 
at promoting self-care and wellbeing among 
employees, such as medical screening campaigns 
(Banco Internacional and Vida Cámara), active 
fitness breaks and other occupational health activities 
held at workstations (RedSalud). Furthermore, 
in support of employees following the October 
demonstrations, some of our subsidiaries such as 
RedSalud and Consalud launched initiatives to offer 
emotional containment and psychological support 
to employees who needed it. In this regard, Banco 
Internacional’s agreement with Fundación Orienta 
is worth mentioning. This foundation provides free 
legal and psychological advice to employees and 
will refer more complicated cases if necessary.  Vida 
Cámara also has agreements in place with mental 
health care centers. 
Confuturo held its annual Health Fair in 2019 as a 
means to provide its employees with tools to improve 
their quality of life. This entailed a series of activities 
at all our branches nationwide, such as: health care 
campaigns (facials, eye check-ups, stands for testing 
blood sugar and blood pressure, BMI measurements 
and bone density tests), services (chiropractors, 
alternative and massage therapy) and lectures on 
preventive care (manging your emotions, breathing 
and mindfulness and healthy eating). 
In addition, 328 employees were given grants to carry 
out integration and healthy living projects. Assistance 
in the form of training and tools was also provided 
to some 72 employees taking part in the Insurance 
Olympics. Lastly, there were other activities such as 
active fitness breaks and a vaccination campaign 
held in April. 
Absenteeism Rate 
The Company’s 2019 turnover rate was 8%. While 
some subsidiaries did not surpass 5% (e.g. Confuturo 
and Vida Cámara), the 3% rise compared to 2018 
can be explained by RedSalud’s 2019 turnover rate 
of 9%, which is particularly significant given that this 
subsidiary employs the largest number of workers 
in the group. 
ILC
Confuturo
Banco 
Internacional
RedSalud**
Consalud
Vida 
Cámara
Consolidado*
0.1%
4%
5%
9%
9%
4%
8%* 
* 	 Weighted average.
**	Does not consider Clínica RedSalud Iquique, Clínica RedSaul Elqui, Clínica RedSalud Mayor Temuco nor Clínica RedSalud Magallanes.
53
52

Benefits and Services  
Supporting Parents  
We have executed many different programs at ILC 
in support of employees with children.  For example, 
with respect to maternity leave, Confuturo pays the 
difference between the maximum legal subsidy and 
each worker’s contractual remuneration, and medical 
leave payments are made in advance so as not to 
affect workers’ revenue flows. Moreover, mothers 
have the option to go back to work for half a day 
or an abbreviated full workday.  Fathers receive two 
weeks of paid leave when their child is born. 
Some of our companies give bonuses to employees 
with children.   In the case of Confuturo, for instance, 
employees receive benefits such as a bonus for 
newborns, for preschool and school-age children and 
for daycare transportation, along with supplementary 
health insurance for children, school vacation activities 
(winter vacation), holiday gifts and the annual 
company party.  At Vida Cámara, employees with 
children receive a school bonus (paid out in March), 
a bonus for the birth of a child, holiday gifts and 
the annual company party. 
Promoting Healthy Living 
Promoting healthy living and good habits in the 
workplace is part of our pledge to foster our employees’ 
wellbeing. Our companies regularly implement a 
plethora of initiatives. Some of these stand out for 
their scope and impact.  
In the case of RedSalud, it carried out a handful of 
activities nationwide, including active fitness breaks 
and massages for its employees.
Branch
Action
Iquique
Occupational screenings for 
employees providing risk-
prone services (operating room, 
sterilization and imaging staff).
Elqui
Free preventive screenings and 
medical checkups for workers. 
Preferential plans for workers and 
their dependents at gyms under 
agreements. The company also 
organized self-care campaigns 
along with a major annual event: 
“Avoiding Psychosocial Risks”
Consalud is one of our most active subsidiaries in 
this area. In addition to officially sponsoring the 
Viña del Mar Marathon held in October, a group of 
employees belonging to a Consalud running club 
also ran in the event. Additionally, the company 
held healthy eating workshops.  Activities aimed 
at promoting healthy living received good reviews 
in several surveys conducted throughout the year. 
Work Climate and Wellbeing
Consalud’s “Get Moving” 
Program
Although this employee benefit has 
been available to employees since 
2011, in 2019 the company decided 
to expand its scope to include family 
members. The company signed an 
agreement with Gympass, a sports 
platform granting access to over 800 
sports activities in the different districts 
and cities throughout Chile through an 
annual membership. 
In just six months, the application was 
downloaded 980 times, which included 
188 employees and 68 direct family 
members who were able able to access 
the various activities at a preferential rate. 
Moreover, the 500 plus employees 
working at its corporate headquarters 
have access to a gymnasium fully-
equipped with a multi-purpose court, 
tennis courts, a running track and access 
to different sports classes. . 
The program has grown steadily up 
to a point in which 46% of company 
employees have signed up.  On average, 
115 individuals make use of the facilities 
and classes daily, not to mention the 
152 employees in the Metropolitan 
Region and 60 in other regions who 
receive in-person and online nutritional 
counseling.  
Insurance and Benefits
In addition to the aforementioned benefits, our 
subsidiaries offer their employees a suite of other 
services designed to boost their quality of life. Each 
company offers an assortment of insurance products 
to employees and their families. For instance, ILC, 
Confuturo and Banco Internacional provide dental 
insurance to their employees,  while RedSalud 
provides discounted care to its employees at its 
network hospitals. Plus, all subsidiaries also provide 
supplemental health insurance and life insurance. 
Flexible Work Initiative
In order to strike a better work/life balance, in 2019 
the Company began exploring the impact of various 
measures such as flexible scheduling (i.e. employees 
can chose when they want to start and finish their 
workday) and telecommuting.
Flexible Schedule
Confuturo has been working under a 
flexible scheduling system since 2018. 
This benefit is offered to all employees 
organization-wide with a view to making 
their workday schedule more compatible 
with their personal needs. Starting times 
are: 08:00, 08:30 and 09:00 in the 
morning, and finishing times are 5:50, 
6:30 and 7:00 in the evening. 
In the case of RedSalud, during the 
second half of 2019 the company 
implemented a new corporate 
headquarters benefits program that 
included flexible scheduling with early 
finishing times on Fridays, upon prior 
arrangement with supervisors. 
55
54

Telecommuting
Confuturo launched telecommuting in 
December 2019 through a pilot program 
that went into operation in April 2019. 
Twenty employees took part in the six-
month program. Due to its tremendous 
success, the program was extended to 
include an additional 20 employees.  
In late 2109, Banco Internacional ushered 
in three telecommuting pilot programs 
primarily for the systems and analysis 
areas, with good reviews. 
In the case of RedSalud, during the 
second half of 2019 the company 
implemented a new corporate 
headquarters benefits program that 
included six days of telecommuting 
per year, upon prior arrangement with 
supervisors.  
Vida Cámara opted to begin a home 
office pilot program with 32 employees 
from different areas. Program participants 
gave the experience a 4.5 out of 5.0 in 
terms of satisfaction rate, prompting 
the company to expand the program to 
other groups of employees beginning 
in 2020. This program consists of 
telecommuting once a week. The day 
of the week is pre-set and the benefit 
can be renewed every three months. 
Adapting to the Crisis 
The October social protests brought 
about considerable changes to employee 
routines, not to mention customer 
services. Ensuring the wellbeing of our 
teams of associates was one of the 
reasons why we decided to implement 
these changes and adjustments, 
which ranged from telecommuting 
and flexible scheduling to new benefits 
such as shuttles and travel stipends. 
Employees also received psychological 
and emotional support through lectures, 
a mindfulness program, massages, 
etc. All of the measures taken during 
the first few days following the events 
on October 18th made it possible for 
every subsidiary to stay in business 
and open to the public. Customers and 
employees alike gave a good review 
to the assorted solutions put in place 
to ensure operational continuity and 
employee wellbeing. 
Work Climate and Wellbeing
Employee Satisfaction
Having motivated and trained employees is one of 
the Company’s pillars and, in order to achieve this, 
we have set out to build an atmosphere of respect 
and a work climate that allows us to meet our 
objectives. Every subsidiary has regular indicators 
in place to measure progress. For instance, they all 
measure their progress at least once a year using a 
variety of measurement tools such as ESG Compass 
or the Great Place to Work survey. 
ESG Compass is instrumental in enabling our 
subsidiaries to capture employee opinions on a 
series of relevant matters such as its contribution 
to the environment, ethical business practices and 
community support.  Overall employee satisfaction 
is therefore captured more precisely, providing input 
Workplace Climate Survey
2019
Confuturo
Banco 
Internacional
Consalud
RedSalud
Vida Cámara
Consolidated*
Job Satisfaction
80%
89%
80%
57%
77%
64%
Coverage
91%
84%
81%
87%
85%
86%
Measurement Tool
ESG Compass
ESG Compass
Great Place to Work 
/ ESG Compass
ESG Compass
ESG Compass
ESG Compass
*	 This figure is a weighted average of subsidiaries’ measurements of their work climate.
2019
ILC
Confuturo
Banco 
Internacional
RedSalud
Consalud
Vida 
Cámara
Consolidated*
Total Turnover
9%
47%
23%
20%
29%
20%
24%
Voluntary Turnover
9%
18%
7%
8%
11%
9%
9%
*    This is a weighted average.
Employee Turnover by 
Subsidiary
Total 2019 employee turnover at a consolidated level 
was 24% with a 9% voluntary turnover rate, which is 
considered to be stable in comparison to last year’s 
rate. In this area, it should be noted that both Banco 
Internacional and Vida Cámara registered a drop 
of one percentage point compared to 2018, while 
Consalud reduced its rate by 2% compared to the 
previous year. 
to the administration. Moreover, applying the Great 
Place to Work survey at Consalud has provided the 
company with the means to establish a comparative 
benchmark regarding its standing vis-a-vis other 
insurance and Isapre companies, which has also 
been key to gaining a more exhaustive assessment 
and targeted actions. This survey showed a 79% 
satisfaction rate. The organization also applied 
the ESG Compass survey, which revealed an 80% 
satisfaction rate for the “internal social” dimension. 
Regarding RedSalud, although the company obtained 
the lowest satisfaction rate out of all the subsidiaries 
(57%), the 2019 score was 10 percentage points higher 
than the 2018 rating.  It is important to bear in mind 
that this subsidiary operates in a highly demanding 
industry with considerable rates of staff turnover.
With regard to Confuturo, although it leads the pack 
in terms of turnover rate (47%), approximately 82% 
of this rate corresponds to changes in the sales 
force, which has experienced an upward trend in 
its turnover rate in recent years primarily due to the 
very dynamic nature of the position and workers 
moving from one company to the next, plus the 
company’s search for team members best suited 
to meet company targets.
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56

Attracting and
Retaining Talent
Performance Management 
Having clearly-defined performance evaluation criteria 
helps showcase progress and meet the targets that 
the Company has set for the organization overall 
and for each specific subsidiary. To this end, each 
organization has defined its own processes and 
instruments as part of its ongoing performance 
management model, designed for the purpose of 
examining outcomes with perspective.  This has 
entailed 360 degree evaluations at some of our 
subsidiaries, plus specialized platforms at others 
such as Banco Internacional and Vida Cámara. 
A total of 6,111 ILC employees took part in performance 
evaluations in 2019, equal to 52% of the workforce. 
Human Capital Development
Given the importance of human capital for the culture 
of service—one of the pillars of our Sustainability 
Strategy—training is ongoing and wide-ranging. 
Having motivated teams of employees providing 
service excellence is possible when we provide 
tools for professional and personal development. 
Promoting our employees’ development results in 
committed and increasingly specialized individuals 
who are capable of performing better in our business 
niches, enabling us to better serve our customers 
and, in turn, contribute to developing and growing 
each subsidiary and our Company as a whole. 
Average Training Hours per Employee
A total of 258,772 hours of training were delivered in 
2019, an average of 22.1 hours per employee.
Programs
We would like to point out the initiatives implemented 
by Confuturo, Banco Internacional and Consalud, 
since these three subsidiaries conducted more than 
40 hours of training per person in 2019:
Education Scholarships
Supporting our employees personal and 
professional development is a matter of 
policy at Confuturo and Consalud and 
is manifested through scholarships for 
undergraduate and graduate studies. In 
2019, Confuturo and Consalud granted 
22 and 25 scholarships, respectively.
Employee training focuses on providing behavioral 
and technical tools for professional and personal 
development. These programs are designed according 
to each individual position. Corporate headquarters 
manages three types of training programs:
•	 Skills for central management: the 2019 focus was 
on teaching skills for the digital transformation.
•	 Programs aimed at detecting training needs: 
technical training course based on gaps as 
identified. Coverage reached 47% in 2019.
•	 Regulatory programs: related to knowledge that 
the entire organization must master. In 2019, the 
Company held an online course on the Code of 
Ethics and preventing asset laundering.
Each product segment also had its own training 
programs. The life annuities segment provided 
training on a variety of subject matters such as 
Scomp (Pension Amount Offer and Consultation 
System), government benefits, pension types, 
pension beneficiaries and taxation. Meanwhile, 
the individual insurance segment offered training 
programs to account executives and managers on 
taxation, investments and teamwork. 
For the third year in a row, the company carried out 
the Avanza Program which works with five schools 
that design specific training modules for Bank 
employees and areas. 
•	 On-boarding: orientation for new hires. 
•	 Regulatory School: mandatory training and/or 
courses on industry-specific regulatory and/or 
legal matters. 
•	 Continuing Education: these e-learning voluntary 
courses touch upon cross-cutting matters and are 
available to all employees throughout the year. 
•	 Technical School: aimed at providing specific 
technical training related to individual area tasks 
and operations. 
•	 Leadership School: a 32-hour program designed 
to teach participants key skills required to lead 
teams of employees, in keeping with predefined 
leadership traits (demanding, trainer, protagonist, 
role model, inspirational). 
Total Training Hours
ILC
Confuturo
Banco 
Internacional
RedSalud
Consalud
VidaCámara Consolidated
174
41,711
32,938
79,509
100,277
4,163
258,772
Average Training Hours
ILC
Confuturo
Banco 
Internacional
RedSalud
Consalud
VidaCámara Consolidated
7.6
58.7
57.9
10.1
44.1
17.9
22.1
59
58

Training was carried out both in a classroom 
setting and remotely, with particular emphasis on 
the distance learning mode, through which the 
company was able to teach aspects related to 
technical knowledge for the benefit of the business. 
Consalud began organizing and coordinating these 
initiatives through the Consalud Academy, which 
focuses on 15 front-office positions and material 
that is organized under seven specialized curricula 
according to specific responsibilities and functions.
In addition to the Consalud Academy, scholarships 
were awarded for undergraduate and graduate 
studies, as well as merit grants for employees with 
high potential and professional development needs.
Investment in Training
Confuturo
Ch$330,147,800
Banco Internacional 
Ch$150,062,734
RedSalud
Ch$266,357,028
Consalud
Ch$369,318,882
Vida Cámara
Ch$51,464,285
Total
Ch$1,115,886,444
Attracting and Retaining Talent
Internal Mobility
Offering our employees professional and personal 
development opportunities within the Company is one 
of our priorities. Accordingly, all of our subsidiaries 
have recruiting and selection processes that prioritize 
internal mobility. In 2019, 370 people within the 
organization gained access to new job opportunities 
within the same group but at different subsidiaries. 
Percentage of Vacancies Filled In-house
ILC
Confuturo
Banco 
Internacional
RedSalud
Consalud
Vida 
Cámara
100%
34%
12%
13%
17.2%
20%
61
60

Culture
of Ethics
Our subsidiaries have come up with a series of 
instruments to disseminate their codes of conduct 
and other relevant documents governing ethics. For 
instance, subsidiaries hold annual training events 
for all employees on the Crime Prevention Model, 
pursuant to Law 20,393. These events are offered in 
person and via e-learning.
At Confuturo, the Compliance Officer is in charge 
of implementing an ethics workshop in addition to 
Crime Prevention Model training. Similarly, Banco 
Internacional’s Compliance Division frequently visits 
Bank branches for a closer look into the company’s 
culture of ethics. Vida Cámara holds in-person 
training for areas that work closely with customers, 
in addition to having online evaluations on the ethics 
guidelines that are mandatory for company leadership. 
Each subsidiary posts its codes and manuals on 
the intranet. RedSalud has an ethics hotline where 
individuals can report ethics violations (see insert).
RedSalud’s Ethics Hot Line
RedSalud has a hotline where 
stakeholders can openly or anonymously 
report violations of company regulations, 
unethical behavior, illegal practices or 
possible crimes related to Law 20,393 and 
any other type of crime committed by 
employees, suppliers or third parties. This 
channel is available to both customers 
and employees as an outlet for lodging 
anonymous complaints and following 
up on their cases.
Ethical Business Processes
The industries we operate in tend to be quite 
challenging, offering different types of products 
and services that may not be easily understood by 
customers. As a result, customers often find it difficult 
to appropriately choose products or services that best 
fit their real needs. With the long-term satisfaction 
of our customers in mind, we understand that our 
role is to help them in this regard, ensuring that the 
business process is conducted in accordance with the 
highest ethical standards. One of the fundamental 
challenges regarding this pillar is precisely how to 
mold this into an ethical culture throughout our 
organization. 
In line with this, in addition to training on codes 
of conduct, our subsidiaries have implemented a 
series of tools to safeguard ethical standards in 
our business process, especially considering that a 
significant proportion of workers are on sales forces. 
Within this framework, Confuturo has worked closely 
with its Commercial Division on conducting a series of 
reviews of its policies and Market Conduct Principles, 
in order to evaluate their validity and shape an 
ethical culture within the sales force. This has also 
involved working with the sales team to strengthen 
policy compliance. 
Meanwhile, RedSalud, has designed products under 
the ‘known cost’ modality so that patients know 
beforehand the cost of services rendered, which 
fosters greater transparency regarding payment 
collections. This subsidiary has also developed a 
series of trainings based on the concept of “never 
and always events,” that is, events that should never 
and always occur in the healthcare field in areas 
such as surgery and patient relations. It should be 
noted that 100% of its doctors are accredited.
Vida Cámara, in turn, works with Hubspot, which 
is a specialty software that detects any anomaly 
in information during the insurance sales process. 
In addition, the subsidiary works with the SUSE 
operating system, which has integrated functions to 
help administer and manage services associated with 
closing business transactions, thereby enabling the 
company to appropriately standardize its business 
processes.
63
62

Contribution to 
Public Debate
65
64

Contribution to 
Public Debate
Contribution to Industry 
Regulatory Improvements 
The year 2019 was marked by a series of social 
protests in several countries. First, the Fridays for 
Future movement driven by Swedish activist Greta 
Thunberg garnered global support for demands for 
more effective measures against climate change. At 
the same time, multiple protests against government 
policies occurred in places such as Hong Kong, 
Lebanon, Puerto Rico, Ecuador, France, Catalonia, 
Iraq and others. In Chile, a Ch$30 increase in the 
public transit fare triggered a series of demonstrations 
beginning in October, heightening citizen demands 
and expectations regarding pensions, health care and 
debt, three areas in which ILC invests and maintains 
a leadership position nationally.
In this regard, as an organization we face a very 
serious challenge, which translates into relevant 
actions, such as working to further expand access 
to pensions and health services, striving daily to 
simplify and improve the quality of services and 
playing a more active role in pension education 
and health issues. This becomes even more relevant 
in light of the fact that the industries in which we 
operate are highly regulated and, therefore, public 
policies and regulations must be aimed at improving 
the performance of each sector.
In view of the above, contributing to public debate is a 
pillar of our Sustainability Strategy. With this, we aim 
to ensure that ILC and its subsidiaries are effectively 
active corporate citizens that make constructive 
contributions while standing out among the rest of 
the industry players, always at the forefront of best 
practices that will benefit our customers.
We want our subsidiaries to lead their sectors in 
implementing best practices aimed at improving the 
wellbeing of their stakeholders. Likewise, we believe 
that contributing our market intelligence, ideas and 
technical studies is essential to designing reforms 
that will overhaul the system and thereby provide 
better conditions to members, patients and customers.
Our subsidiaries strive to be actively involved in 
industry discussions on matters concerning their 
operations.  In this regard, Confuturo took part 
in several debates on legislative changes within 
the market, such as amendments to regulations 
and rulings, by participating in working groups, 
impact analysis, document reviews and issuing 
recommendations and comments.  
Regulatory Discussions Involving
Confuturo
Amendments to NCG 428 which implied changes 
to NCG 218
Amendments to Ruling No. 49 (UAF) regarding 
Due Diligence and Know Your Customer (KYC), 
electronic funds transfers, electronic transfers 
involving risky countries and jurisdictions.
IFRS 17
Insurance Declaration Page implemented in 
accordance with Resolution 3-2015 of the Self-
Regulation Council.
NCG 209 (CMF) which issues instructions 
regarding asset sufficiency testing (TSA in 
Spanish).
Solidarity Pillar
Amendments to Ruling 1928 (CMF) and Draft 
Regulations (SUPEN) for implementing new 
benefits under the Solidarity Pension System.
Moreover, Banco Internacional has been involved 
in the legislative debate undertaken by the banking 
sector through the ABIF Legal Committee, along with 
discussions relative to improved consumer protection 
mechanisms, derivatives regulations, the credit card 
fraud liability act, financial portability and rules and 
regulations under review in general.  Furthermore, this 
subsidiary has participated in seminars on preventing 
asset laundering from the standpoint of detecting 
and preventing corruption. Considering that not 
all Latin American countries have anti-corruption 
legislation, participating in and showcasing this type 
of event fosters progress on the matter regionally. In 
2019, Bank representatives attended the Anti-Money 
Laundering Congress sponsored by Banamérica, the 
11th International Congress on Asset Laundering 
and Terrorism Financing Prevention organized by 
the Peruvian Association of Banks, and the 23rd 
Hemispheric Congress in Panama in 2019 organized 
by the Panamanian Banking Association. 
RedSalud is an active member of the Chilean Private 
Hospital Association—an industry association that 
has produced a series of publications and documents 
on public health, addressing issues such as cost of 
services, waiting lists and Chile’s position vis-à-vis 
the OECD in terms of health. The CEO and Chief 
Medical Officer of RedSalud sit on the Board of 
Directors of this industry association. 
In the case of Consalud, it is a member of the 
Association of Isapres, where it actively participates 
whenever invited to do so. In 2019, the industry 
association was primarily involved in debate on 
private health care system reform, which has been 
subject to a series of amendments and guidelines 
presented by the Executive Branch. Moreover, the 
association also took part in discussions on Law 
21,173 that establishes the legal obligation of Isapres 
to provide annual refunds to policy holders for any 
balance remaining in their accounts.
In so doing, Consalud has sought to contribute its 
experience in specific public health issues. It has 
also made contributions to various aspects such as 
promoting healthy living and preventing sexually-
transmitted diseases. For the latter, agreements have 
been drawn up with Universidad Católica (see box).
Finally, in the case of Vida Cámara, the company’s 
Controller and Chief Counsel are standing and active 
members of several working committees of the Chilean 
Association of Insurers (AACh) and working groups 
set up by the Financial Market Commission with a 
view to examining regulatory changes and discussing 
matters of interest to the industry.  At the AACH, it 
contributes to regulations affecting the insurance 
industry, through its involvement on the Technical 
Investment Committee, the Finance Committee, the 
Tax Committee and the Accounting Committee.
Furthermore, Vida Cámara is a member of the 
Association for Improving Customer Experience (DEC 
in Spanish). In this organization, the Deputy Customer 
Experience Manager participates in meetings held 
regularly with member companies.
67
66

Industry 
Associations 
and
Memberships
We actively participate, through our subsidiaries, in 
five industry associations, with a view to working 
with other organizations in the field and becoming 
involved in public discussion on sector-related issues, 
in order to bring about sector-wide improvements 
that will foster wellbeing among beneficiaries and 
customers. In addition, our companies have also 
reached agreements with many think tanks and other 
organizations, through which they seek to contribute 
their experience on various topics of interest. All 
tallied, contributions to industry associations and 
other memberships amounted to Ch$300,921,537.
Industry Associations
Company 
Industry Association 
Chilean Association of 
Insurers (AACH)
Association of Banks and 
Financial Institutions (ABIF)
Chilean Private Hospital 
Association
Isapre Association
Chilean Insurers 
Association (AACH)
Other Memberships and Partnerships
Company 
Other Membership
and/or Partnership 
Global Compact
Center for Studies on the 
Elderly and Aging (Centro 
de Estudios para la Vejez y 
el Envejecimiento or CEVE)
Corporate Action Foundation 
(ACCIÓN Empresas)
UC Center for Innovation 
(Centro de Innovación UC)
Association for Improving 
Customer Experience 
(Asociación para el 
Desarrollo de Experiencia de 
Clientes or DEC) 
69
68

Industry Memberships and Associations
Partnership with Universidad Católica
In 2019, two of our subsidiaries (Confuturo and 
Consalud) teamed up with research centers at 
Pontificia Universidad Católica de Chile in order to 
pursue several initiatives aimed at improving the 
quality of life of people living in Chile.
Confuturo and the Center for Studies on the 
Elderly and Aging
Given Confuturo’s social role and its involvement in 
the pension sector, it is keen to support developing 
initiatives that seek to improve the quality of life of 
older people, who are part of its target group. As 
a result, Confuturo works closely with Pontificia 
Universidad Católica de Chile’s Center for Studies 
on the Elderly and Aging (CEVE), on creating 
opportunities where the organization can have direct 
contact with the country’s seniors, and thus make 
their activities, concerns and needs more visible, in 
order to work out solutions. 
The first report delivered was entitled ‘Support 
Networks for Seniors Over 60’ and revealed the reality 
of those who accompany individuals belonging to 
this social group and the loneliness they experience. 
The study was covered quite broadly by the media 
and broadcast on various media outlets. 
RedSalud II International Congress  
RedSalud’s International Congress constitutes an 
opportunity to make a significant contribution to 
RedSalud’s integration, thereby providing visibility to 
member professionals, creating a sense of belonging 
and encouraging them to participate and represent 
activities relative to the medical specializations under 
the RedSalud seal. Both versions of this congress 
successfully placed health care matters of national 
concern at the heart of the congress’ discussions. 
Likewise, at the close of each meeting, working groups 
were created to follow up on the issues as well as 
implement new initiatives. 
In addition to analyzing issues that may be the target 
of future public policies, this program is particularly 
meaningful because it enables the company to 
gain a better understanding of the problems and 
concerns affecting its customers. Therefore, the 
studies provide relevant information that allow it to 
deliver better, more caring and empathetic services 
to its customers and their respective communities.
Details of the report are available at 
www.observatorioenvejecimiento.uc.cl
Consalud and the UC Center for Innovation
Chile is one of the countries worldwide that has 
witnessed increased rates of HIV, particularly among 
15 to 29-year-olds. Therefore, one of challenges taken 
on by Consalud has been getting more involved in 
initiatives that contribute both to disease prevention 
and to the wellbeing of its customers and their families.
Throughout the year Consalud worked closely with 
student researchers involved in the No Limits Program 
(Programa Sin Límites) at the UC Center for Innovation. 
After selecting more than 40 proposals, the team, 
comprised of students from the center under the 
academic coordination of the company’s Medical 
Directorate, successfully launched the initiative 
“Designing innovative interventions for HIV prevention 
in risk groups associated with Isapre Consalud,” which 
was positively evaluated by both parties. 
A large number of medical professionals representing 
different regions in Chile where RedSalud operates 
attended the 2019 congress. Eight renowned 
international guests with experience in their respective 
medical fields also participated. The congress, entitled 
“Heath Care Update and Perspectives,” offered the 
following main modules:
•	 Health Care at RedSalud: Today and Tomorrow
•	 New Challenges in Health Care
•	 Advancements in Women’s Surgery and Pelvic 
Floor Repair
More than 600 individuals attended this event.
71
70

Responsible 
Investment
73
72

Responsible 
Investment
According to Global Carbon Project (GCP) estimates, 
CO2 emissions increased 0.6% in 2019 compared to 
the previous year. At the current rate, the temperature 
could increase by up to 4ºC or 5ºC globally by the 
end of the century compared to the pre-industrial 
era. Companies play a leading role in this regard, 
and must choose whether they will be part of the 
problem or part of the solution. 
Environmental issues aside, today’s society 
expects companies to behave responsibly towards 
their employees, customers, communities and all 
stakeholders alike. Investors are increasing aware of 
the environmental, social and/or governance factors 
(ESG) within their investment portfolios. For instance, 
in 2019, Ch$52 billion in assets were traded under 
ESG criteria, and 479 green bonds were issued on 
global markets.
As part of our strategic sustainability vision, we 
understand that this represents a two-pronged 
challenge for ILC.  For one thing, regarding subsidiaries 
where we manage investments, we aspire to do so 
responsibly, mindful of the duty and opportunity 
we have to exert influence to improve the integrated 
management of our investments. And since we are 
also an asset in which others invest, we aspire to 
be an accountable asset for them, by responsibly 
managing our own operations. As such, the fourth 
and final pillar of our Sustainability Strategy consists 
of making and being a responsible investment. 
75
74

Economic Value
Generated and Distributed
The year 2019 presented a challenging political 
context, including for Chile. From a domestic political 
perspective, we witnessed the largest demonstrations 
by Chilean citizens in recent years, and protests 
also took place in other countries, such as Hong 
Kong, France, Ecuador and Catalonia. The foreign 
perspective for 2019 began with trade tension between 
China and the U.S., and the UK’s difficult exit from 
the European Union, which affected markets.
Given this scenario, some central banks had to 
reverse their monetary policies, such as the U.S. and 
Chile, where base interest rates had already begun 
to climb. Accordingly, financial markets began to 
recover in 2019, due to monetary expansion policies 
in emerging markets such as India, China, Brazil, 
Mexico, Russia, Korea and South Africa, the first 
phase of the trade agreement between the U.S. and 
China, and the conclusion of Brexit.
Given this local and international context, ILC earned 
Ch$91,011 million in recurring profit, which was similar 
to the previous year. The improved results from AFP 
Habitat, Banco Internacional and Vida Cámara were 
partially offset by weaker performances from Consalud, 
Inversiones Confuturo and RedSalud. Economic 
value generated amounted to Ch$720,140 million. 
Following our IPO in 2012, ILC began a phase of 
consolidating operations, followed by a growth phase. 
Since 2017, we have reported average annual profit 
of nearly Ch$90 billion compared to the Ch$60 
billion reported from 2012 to 2016.
Economic Value Generated
ILC
2018
2019
Revenue (MCh$)1
 736,116
 720,140
The economic value generated by ILC comes from 
the services we provide to our customers and 
enables the company to fulfill its commitments to 
each subsidiary’s employees and to the State, by 
paying taxes for the benefit of the economy and 
social welfare. 
Economic value generated is calculated using the 
GRI EC1 indicator. Data on how this indicator is 
created and distributed provide basic information 
on how economic value has been created for all 
our stakeholders and how much has been retained.
1	 Includes net sales plus income from financial investments and sales of assets.
Distribution of Economic Value Generated
among Stakeholders
ILC
REVENUE (MCh$)
2018
2019
Suppliers2
76,607
84,720
Employees3 
302,740
335,462
State4
25,320
13,022
Community5
28
70
Investors
149,3846
149,3547
Total
554,080
582,628
Economic Value Retained 
ILC
MCh$
2018
2019
(+) Economic value 
generated
736,116
 720,140
(-) Economic value 
distributed
554,080
582,628
Economic value 
retained
182,036
137,511
2	 Payments to suppliers, royalties and facilitation payments or monetary gifts
3	 Total payments to employees and social contributions
4	 Duties and gross taxes, excluding deferred taxes
5	 Voluntary contributions and investment funds in the community (including donations)
6	 From the total of $149,384, $63,100 corresponds to dividend payments, and the rest are financial costs.
7	 From the total of $149,354, $45,000 corresponds to dividend payments, and the rest are financial costs.
Economic Value Generated 2019
Employees
44%
Investors
21%
Value Retained
20%
Suppliers
11%
State
4%
Community
0.005%
81% of the value generated was distributed to 
stakeholders, including employees, suppliers, investors 
(i.e. shareholders, bondholders and banks), the 
community and the State.  ILC retained the remaining 
19% for reinvestment. 
77
76

Geographic Breakdown of 
Revenue, Profit and Taxes
Geographic Breakdown of the 
Main Financial Figures
Distribution of Economic Value Generated
among Stakeholders (Net Sales)
ILC
Revenue (MCh$)
2018
2019
Chile
1,780,453
1,824,698
Peru8
36,334
33,603
Colombia8
0
777
Total
1,816,787
1,859,078
8	 It is important to note that AFP Habitat Chile, Peru and Colfondos do not consolidate their income in our financial statements, since ILC has a 
40.3% interest in those entities.
9	 Net of deferred taxes
10	It is important to note that AFP Habitat Chile, Peru and Colfondos do not consolidate their taxes in our financial statements, since ILC has a 40.3% 
interest in those entities.
Effective Tax Rate
ILC
MCH$
2018
2019
Profit before taxes
 139,452
110,865
Taxes paid
 25,320
13,022
Effective rate (%)
 18%
12%
Income tax rate (%)
27%
27%
The difference between the 2019 nominal income 
tax rate and the effective tax rate is primarily due to:
1.	 AFP Habitat’s legal cash reserves had record 
financial returns in 2019. Since they are held and 
unrealized investments, changes in the share 
value yield returns and deferred taxes.
a)	 AFP Habitat Chile Legal Cash Reserve at 40.3% 
(MCh$24,608)	
	
	
 
b) 	AFP Habitat Perú Legal Cash Reserve at 40.3% 
(MCh$1,008)	
	
 
c) 	AFP Habitat Colombia Legal Cash Reserve 
at 40.3% (MCh$134)	
ILC
Profit (MCh$)
2018
2019
Chile
106,604
86,786
Peru 
-3,988
3,988
Colombia
0
237
Total
102,616
91,011
ILC
Taxes (MCh)9
2018
2019
Chile
25,320
13,022
Peru10
514
1,182
Colombia10
0
-122
Total
25,834
14,082
2.	 Financial returns on Confuturo’s local variable-
income investments. Since they are held and 
unrealized investments, mark-to-market changes 
yield returns.
a) 	Return on Confuturo’s local variable-income 
investments (MCh$395)
3.	 Since ILC holds a 40.3% share of AFP Habitat, 
this subsidiary’s results are not consolidated. ILC’s 
final results are reported under line “Share of profit 
(losses) of equity method associates and joint 
ventures.” That is why we must issue proforma 
financial data to show what the consolidated 
results would look like in order to calculate the 
effective rate:
a)	 AFP Habitat taxes recognized at 40.3% 
(MCh$19,389)	
	
 
b)	 AFP Habitat taxes paid at 40.3% (MCh$12,681)	
	  
4.	 Reversal of deferred taxes (MCh$514)	
	
Once the above-mentioned adjustments have been 
applied, ILC’s effective tax rate increased to 25.7%.
79
78

The Chilean Chamber of Construction (CChC) is the 
founder and principal shareholder of ILC, and has a 
67% interest in the Company. The remaining 33% is 
distributed among other Chilean shareholders (with 
21.5%) and foreign shareholders (with 11.5%) as of 
the end of 2019. 
The CChC is a trade association established in 1951 
to promote construction and thereby have a positive 
impact on Chile’s development. CChC’s participation 
in the pension, health and education sectors arose 
from the need to improve social security benefits and 
quality of life for individuals working in the construction 
industry, which is one of the largest employers in 
Chile. Along these lines, subsidiaries such as AFP 
Habitat and Isapre Consalud were established in the 
1980s in order to improve the pensions and health 
of construction sector workers.
CChC receives 67% of the dividends generated by 
ILC, and manages and invests these funds. Under 
this organization’s investment and expense model 
and structure, a significant percentage of dividends 
received are earmarked for social investment projects, 
and then channeled through CChC Social, an entity 
devoted to creating and expanding benefits—primarily 
in health care, training, housing and wellbeing—for 
construction workers and their families. Moreover, the 
remaining dividends are allocated to an investment 
fund that was set up to provide long-term funding 
for the CChC.
2019: Record Investments and New 
Beneficiaries in Social Programs 
An unprecedented sum of UF481,191 was earmarked 
for investments in CChC social programs, up 8% 
from the 2018 figure. Furthermore, 7,615 new spots 
were created this year, bringing the total number of 
annual beneficiaries to nearly 300,000. 
CChC Social Programs
Area of Intervention 
Investments
UF 2019
% Change 
2018
Number of 
Benefits Provided 
in 2019
% Change 
2018
Health Sector
131,908
12%
100,561
-2%
Housing Sector
30,480
42%
1,603
15%
Training Sector
141,332
22%
15,829
5%
Wellbeing Sector
109,060
-9%
166,131
5%
Others
68,411
-6%
7,476
-2%
TOTAL
481,191
8%
291,600
3%
Social programs are comprised of four main areas 
of investment: 
a)	 Health: seeks to promote timely and preventive 
access to health care for construction workers. 
It includes programs to cover expenses for 
hospitalizations, preventive screenings, dental care, 
mammograms and diagnosis of eye diseases.
b)	 Housing: seeks to expand opportunities for 
construction workers to accomplish the dream 
of home ownership. These benefits are mainly 
processed through the “Steps Away from Your 
Own Home” program. This program is set up to 
assess workers’ housing requirements and assist 
them during the home buying process.
c)	 Training: boosts workers’ job skills by providing 
them with tools for their education, training and 
professional development. It includes education 
scholarships for workers and their children, as 
well as various job training and certification 
programs.
d)	 Wellbeing: creates opportunities for the well-
rounded development of construction workers. 
It includes benefits for specific groups such as 
SMEs, foreigners, people with disabilities, retired 
and unemployed individuals with ties to the 
construction industry, as well as sports and 
cultural initiatives.
In 2019, programs focused on providing benefits to 
foreign workers in these areas, while also providing 
them assistance to regularize their immigration status. 
Under this program, food donations and transportation 
vouchers were given to all immigrant workers who 
had contracts with CChC partner companies. 
Post-Civil Unrest CChC Social 
Services Agenda
Against the backdrop of the social 
events that began to unfold on October 
18, 2019, the CChC has encouraged 
companies to deepen dialogue with 
their main stakeholders. In this context, 
in November the Chilean Chamber 
of Construction held wide-spread 
discussions with workers in the sector 
in order to learn about their main needs 
and concerns.
To this end, 280 workshops were held 
throughout the country, involving more 
4,000 participants. Workers identified 
health care, training and social services 
as their priorities, which then gave way 
to substantial changes in the budget 
and programs on the Chamber’s 2020 
Social Services Agenda.  
For more information, click here: https://
www.cchc.cl/uploads/basica/archivos/
Agenda_Social_enero_2020_%284%29.
pdf
Relationship with
Construction Workers
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80

ESG Portfolios
and Assets 
The rapidly changing status of investments under ESG 
criteria (previously addressed in this chapter) entails 
responsibilities as well as considerable opportunities 
for ILC to take actions that will set it apart from the 
rest in its field, especially considering our position 
as the leading institutional investor in Chile. We are 
aware that financial institutions have a critical role 
to play in terms of tackling sustainability challenges, 
easing the transition to a low-carbon economy and 
stimulating sustainable development.
By identifying and addressing growing socio-
environmental challenges and associated risks, 
financial institutions can benefit from leveraging 
their expertise in financial innovation.
Along with the opportunity to offer new financial 
instruments, financial institutions also have the 
chance to create new sources of revenue and build 
trust among stakeholders.    
Through our subsidiaries, we are involved in industries 
that are fundamental to Chile’s development, such 
as pensions, health care, insurance and lending. All 
our subsidiaries are measured according to social, 
environmental and corporate governance criteria 
through the ESG Compass platform, which provides a 
rating for various parameters such as Anti-Corruption, 
Customer Satisfaction and Complaints, Community 
Relations, Supplier Operations, Diversity and 
Inclusiveness, Health and Safety, and Compensation 
Structure, among others. 
ILC Issues Social Bond
ILC issued its first social bond in 2019, in accordance 
with the Social Bond Principles (SBP) of the 
International Capital Markets Association. It was 
the second IPSA company to issue this type of 
instrument. 
In order for bonds to be called ‘social’ bonds, resources 
obtained from the issuance must be allocated to 
finance or refinance one of the six categories of 
social projects provided under the SBPs. ILC bond 
resources fall under the Small and Medium Enterprise 
Financing category, through loans granted by Banco 
Internacional. At year-end 2019, the Bank’s total 
lending to the micro, small and medium enterprise 
segment (defined as organizations with annual 
invoicing of less than UF100,000), amounted to 
US$558 million, representing 23% of the Bank’s 
total loans and approximately 40% of its customer 
base. Moreover, 22% of these loans are granted to 
companies operating outside Santiago. In addition, 
this initiative has an impact on employment by 
benefiting a total of 1,855 companies and their 
respective employees.
This initiative falls under Sustainable Development 
Goals No. 8: Decent Work and Economic Growth; 
and No. 9: Industry, Innovation and Infrastructure. 
Thanks to these loans, business owners can now 
access financial services, fast credit and join value 
chains and markets. The above stimulates economic 
growth and job creation in Chile.
Lastly, as part of the social bond issuance process, 
the global agency Sustainalitycs also published a 
certified report, available on line at: 
http://s21.q4cdn.com/417792851/files/doc_downloads/
bond_issuance/ILC-Social-Bond-Framework-Second-
Party-Opinion.pdf
ESG Policies and Investments 
at Confuturo
Our subsidiary Confuturo is a good example of how 
value is created by incorporating ESG criteria into 
investment decisions, for it has a system of governance, 
policies, procedures and indicators that allow it to 
monitor and improve its management in this area.
This process includes conducting background checks 
at various levels, which is actually going far beyond 
what is required under regulations. For instance, 
counterparties are reviewed in order to determine 
whether they are or have been involved in money 
laundering, terrorism financing or bribery, since this 
review is a condition for proceeding with a formal 
analysis of the proposal.  
Confuturo has adopted an exhaustive ESG risk 
assessment, in which risks are to be considered on 
a case-by-case basis by the Investment Committee, 
which could eventually deny approval of an 
investment if the counterparty were deemed high-
risk in terms of ESG criteria or if it could potentially 
jeopardize recovering the investment. In addition, 
certain investments carrying a high sustainability 
risk could be recommended for sale.
Once the review process is completed, Thomas 
Reuters issues an ESG summary (containing the 
main categories of each ESG criterion), which is 
submitted to the Investment Committee for review. 
Furthermore, on a monthly basis, a report on 
investments monitored for ESG is presented to the 
Investment Committee. The percentage of investments 
in the portfolio subject to ESG monitoring continued 
to rise in 2019, reaching 48.6%.
Percentage of Investments Monitored
for ESG in Relation to Confuturo’s Total
Exposure
2018
2019
45.6%
48.6%
Confuturo and Ameris Capital’s FIS 2.0 
Confuturo uses FIS 2.0 to invest in 10 projects aimed 
at addressing social and/or environmental issues11. 
The project portfolio includes various companies 
from sundry sectors such as recycling, support 
for startups, support for persons with disabilities, 
education platforms and transit solution projects.  A 
sum of Ch$790 million has been placed thus far out 
of a total of US$2 million in committed resources. 
Confuturo holds a 21% interest in the fund and was 
the first institutional investor in Chile to make this 
type of investment.
FIS 2.0 AMERIS Confuturo 
Total loans
Ch$790,000,000
Number of projects 
financed
10
The FIS 2.0 fund is rated by the Global Impact 
Investing Rating System (GIIRS), the most popular 
global fund rating system among impact investment 
funds. It is a rigorous, comprehensive and transparent 
tool managed by the United States NGO B Lab to 
rate the social and environmental performance of 
companies operating in developed and emerging 
markets around the world.
11	 More information is available on the FIS Ameris website at: http://fisameris.cl/portafolio-de-proyectos/
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82

This rating system is designed to allow for project 
comparisons and an international benchmark of 
funds that seek to obtain not only financial results, 
but also to provide solutions to problems of a global 
nature. For the past three years, FIS Ameris has 
appeared on the GIIRS ranking among the top five 
impact funds in developing countries.
ESG Portfolios and Assets
FIS Ameris earned important international recognition 
in 2016 and again in 2017 for its contribution to 
impact investing in Chile. B the Change honored FIS 
Ameris by naming it among the “Best for the World 
Funds,” for the outstanding social and environmental 
performance of its funds and projects.
Ameris Capital’s FIS and FIS 2.0 funds contribute 
to the Sustainable Development Goals as follows:
10.0%
7.7% 6.5% 6.4%
2.4%
2.7%
1.7%
18.1%
10.4%
25.1%
No Poverty
Zero Hunger
Good Health and Well-being
Quality Education
Gender Equality
Clean Water and Sanitation
Affordable and Clean Energy
Decent Work and Economic Growth
Industry, Innovation and Infrastructure
Reduced Inequality
Sustainable Cities and Communities
Responsible Consumption and Production
Climate Action
Life Below Water
Life on Land
Peace and Justice Strong Institutions
Partnerships to achieve the Goal
6.2%
1.3%
1.5%
Source: Prepared in house using SDG information and % of total investment of FIS Ameris as of April 2020.
Operational
Eco-efficiency
As a Company, we are aware of how important it 
is to protect the environment and how vital it is to 
make decisions regarding the environmental impact 
of our operations, apart from the fact that operational 
eco-efficiency is beneficial to our business by helping 
to curtail costs.
Creating an aligned organizational culture is essential 
for an organization to draw up new action plans 
that are aimed at minimizing potentially-negative 
environmental impacts, while anticipating and adapting 
to different climate-change induced scenarios. 
Accordingly, every subsidiary today has plans to 
mitigate these effects through efficient lighting and/
or plumbing, recycling points and digital processes 
using less paper, among other initiatives.
Regarding recycling, our corporate building has 
recycling points for paper, PET products, electronic 
items, coffee capsules and batteries. With regard to 
energy consumption, the building has an intelligent 
lighting system programmed according to the amount 
of light outside, as well as a facade designed to 
make the best use of natural light. 
Eco-Efficiency Initiatives
With respect to transportation, ILC implemented an 
agreement with Cabify, a carbon-neutral company, 
and additionally set up benefits for its employees, 
such as the twice-yearly home office system, which 
helps reduce emissions associated with commuting. 
ILC also migrated to Google Suite, enabling the 
Company to access specialized meeting rooms 
for working remotely, thereby reducing the number 
of face-to-face meetings, commuting and paper 
consumption. Along these lines, other projects were 
implemented in 2019 that helped significantly reduce 
paper use (e.g. the Talana application for human 
resource management), as well as discontinued 
hard copies of annual reports and sustainability 
reports, giving priority to the use of digital formats. 
Confuturo has implemented some initiatives to reduce 
its environmental impact and consumption in certain 
areas such as paper and private transport. Firstly, the 
home office system cuts down on travel time, which 
has a positive impact on the carbon footprint and 
employees’ work/life balance. This initiative started 
out as a six-month pilot involving 20 employees; 
however, the first stage was so successful that it was 
extended for an additional six months and opened 
up to 20 more employees. Moreover, the company 
began monitoring the amount of paper used for 
printing. In this regard, Confuturo decided to roll out 
its “Green Pledge” initiative which looks to pare down 
the amount of paper used in printing.  Confuturo 
allocated the savings obtained from these initiatives 
to reforestation in Patagonia where it planted trees. 
Average consumption 
(January - September)
745 reams / month
Average consumption 
(October - December)
584 reams / month
85
84

Banco Internacional and Confuturo have also reduced 
paper usage at their offices through intelligent printing 
and ongoing monitoring of their paper consumption. 
One of the benefits of implementing this type of 
measure is the ability to better control spending by 
identifying processes that have the potential to be 
more efficient. 
Likewise, a control system is being installed for lighting 
in common areas which will replace the traditional 
light control panel. This will allow for programming 
a schedule for turning lights on and off in order to 
save energy. In addition, on the six floors used by 
the Bank within the corporate building, there are 
recycling containers for paper, cardboard, cans, 
plastics, batteries and bottle caps, which are then 
taken to the building’s common recycling area for 
proper classification. Also, at the end of 2019, the 
company began implementing a telecommuting project 
for systems area staff, one day a week. This initiative 
is expected to reduce emissions associated with the 
use of vehicles for commuting to and from work. 
Towards the end of 2019, the ‘Todos Sumamos’ 
Program was launched, providing workers the 
opportunity to propose their own initiatives regarding 
environmental, labor wellbeing and community 
issues. It is hoped that this will enable employees 
to become pro-actively involved in this area.
Incorporating energy efficiency and environmental 
care into its operations is essential at RedSalud and 
part of its framework of sustainable management. 
The following changes have been implemented at its 
offices for these purposes: 90% of the light fixtures 
have been changed to LED, and bathroom fixtures 
and HVAC systems are energy efficient. In addition, 
an effective alliance is in place with the San José 
Foundation for recycling paper, and the company 
instituted a telecommute program available six days 
a year in order to reduce vehicle/commute-related 
emissions. 
Operational Eco-efficiency
LEED Certification  
RedSalud’s headquarters, located in 
the Santa María Tower, are LEED Silver 
certified. The offices are designed with 
an air conditioning system based on 
state-of-the-art double-pane windows 
with a low-shade coefficient and a line 
of efficient lighting solutions.
Occupying this space allows us 
to contribute to the company’s 
environmental commitment by helping 
to mitigate the effects of global climate 
change, protect and restore water 
resources, promote sustainability and 
regenerative material resource cycles 
and build a greener economy with 
better conditions for the wellbeing of 
employees.
The culture of environmental care and eco-efficiency 
is of great importance to Consalud employees, who 
have conveyed their thoughts through the Great Place 
to Work survey. Along these lines, work has been 
carried out to raise awareness among employees, 
encouraging them to participate in actions such 
as reducing plastic and paper use and promoting 
the use of electronic platforms, in addition to the 
digitalization through the following apps: APP Consalud, 
Compra Mobile, Cuenta Médica Directa, Venta en 
Canales Virtuales, RPA and OCR for automatic 
reimbursement processes; in addition to electronic 
receipts and waybills.
In 2019, Vida Cámara took several measures to reduce 
its environmental impact, such as using energy-
efficient devices like LED lighting and digital timers, 
and setting up recycling points. It has also started 
setting up a pilot home office program which would 
reduce our employees’ transportation emissions. 
At the operational level, 95% of reimbursement 
processes are currently digital and managed in 
paperless format (I-Med 49%, APP 29%, pharmacies 
16%). Physical reimbursements were down by 59%, 
while mobile app usage was more widespread than 
physical drop boxes. 
Water Consumption (mm3)
GRI 303-5
ILC12
Confuturo13 
Banco 
Internacional14
RedSalud
Consalud15
Vida 
Cámara16
1,094
22,944
10,775
N/A
642,470
2,380
Waste Generation and Treatment 
GRI 306-2
Our corporate offices generated 93.24 tons of waste 
in 2019, primarily at subsidiaries Banco Internacional 
and Confuturo. 
Waste Disposed at Corporate Buildings 
(tons)17
ILC
6.79
Confuturo
22.63
Banco Internacional
48.24
RedSalud
N/A
Consalud
N/A
Vida Cámara
14.78
We have sent a total of 10.67 tons to recycling projects. 
Specifically, Banco Internacional and Confuturo were 
who contributed the most in this area, with 5.09 and 
2.39 tons, respectively. Cardboard waste accounted 
for 47.5% of total recycling (5.07 tons), while 29.9% 
of recycled items were paper (3.19 tons) and 9.3% 
glass materials (0.99 tons).
12	ILC office consumption at Apoquindo headquarters 
13	100% coverage of all branches and Apoquindo headquarters
14	Does not include branches in Temuco, Moneda or Ciudad Empresarial 
15	Out of the scope data.
16	Only headquarters
17	 A GERSA conversion factor was used where 1 ton = 5000.6 liters
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86

Recicled Wastes from Corporate Buildings 2019 (tons)
GRI 306-2
Waste
ILC
Confuturo
Banco 
Internacional
RedSalud
Consalud
Vida 
Cámara
Paper
0.167 
0.556
1.186
0.920
N/A
0.363
Cardboard
0.372 
1.240
2.644
N/A
N/A
0.810
Glass
0.073
0.243
0.518
N/A
N/A
0.159
Others
0.104
0.346
0.737
N/A
N/A
0.226
Total
0.716
2.386
5.086
0.920
N/A
1.558
Energy Consumption 2019 (Kwh) 
GRI 302-1
Headquarters
Consumption
2019
ILC 
53,926
Confuturo
266,398
Banco Internacional
594,096
RedSalud
63,972
Consalud18
1,107,426
Vida Cámara
200,150
In terms of electricity consumption, our corporate 
offices reported total consumption of 2,285,96819 Kwh, 
whereas, electricity consumption at Metropolitan 
Region RedSalud hospitals was nearly 25 million 
Kwh. For 2019, the grand total was 27,557,37419 Kwh. 
Energy Consumption 2019 (Kwh) 
RedSalud Hospitals
Consumption (Kwh)20
2019
Clínica RedSalud Providencia
6,768,612
Clínica RedSalud Santiago
6,972,090
Clínica RedSalud Vitacura
11,530,704
Operational Eco-efficiency
Carbon
Footprint
For the second straight year, we have measured the 
Carbon Footprint at our corporate offices. This year, 
for the first time we also measured three RedSalud 
hospitals in the Metropolitan Region, located in the 
districts of Vitacura, Providencia and Santiago. ILC’s 
carbon footprint was calculated in accordance with 
the requirements of the GHG Protocol, and uses 
emission factors from Defra/BEIS (UK), and the 
emission factor for the National Energy System in 
Chile, pursuant to each scope. With regard to scope 3, 
emissions from business travel by taxi were included 
in this scope for the first time this year, in addition to 
air travel emissions that were first measured in 2018. 
In 2019, our operations produced a total of 14,833 
metric tons of CO2, 75% of which are scope 2 
emissions.
Total Greenhouse Gas Emissions [tCO2e]
Scope 2
75%
Scope 1
19%
Scope 3
6%
Summary Total Footprint for 2019
Scope 1
Scope 2
Scope 3
Total
Total Greenhouse Gas 
Emissions [tCO2e]
2,791
11,177
865
14,833
Percentage of total
19%
75%
6%
 
Regarding emissions by business, 87% are produced 
by RedSalud, although this amount is mainly attributed 
to the hospitals included in the measurement.
GHG Emissions by Business (tCO2e)
RedSalud
87%
Consalud
7%
Banco
Internacional
3%
Confuturo
2%
Vida Cámara
1%
ILC
0%
18	Out of the scope data.
19	Consolidated numbers are not verified as they consider Consalud.
20	Out of the scope data.
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88

Carbon Footprint
Breakdown by Business
GHG Emissions by Business 
(tCO2e)
Scope 1 
(tCO2e)
Scope 2
(tCO2e)
Scope 3 
(tCO2e)
Total 
(tCO2e)
 %
ILC
0.3
22
66
88
1%
Banco Internacional
2.2
241
183
426
3%
Confuturo
1.3
108
187
297
2%
Consalud
354
449
212
1,016
7%
RedSalud
2,432
10,276
153
12,861
87%
Vida Cámara
0.9
81
64
146
1%
When breaking down consumption by business 
areas, the three RedSalud hospitals account for 
a total of 12,692 metric tons of carbon, while the 
corporate offices generated a total of 2,141 metric 
tons. Consalud’s emissions were the highest in the 
group at 1,016 metric tons of CO2.
It should be noted that corporate office scope 1 and 
2 emissions decreased by nearly 35% compared to 
2018, while scope 1 consumption dropped by 189 
tons and scope 2 by 501 metric tons of CO2.
Clínica
RedSalud
Vitacura
2,828
Clínica
RedSalud
Providencia
2,745
Clínica
RedSalud
Santiago
7,118
Corporate
2,141
Consalud
1,016
Confuturo
297
RedSalud
Corporate
169
Banco
Internacional
426
Vida
Cámara
146
ILC
Inversiones
88
Breakdown by Operations Area
GHG Emissions by Operations Area 
(tCO2e)
Scope 1 
(tCO2e)
Scope 2 
(tCO2e)
Scope 3 
(tCO2e)
Total 
(tCO2e)
 
ILC Corporate Building, Banco 
International, Confuturo, Vida Cámara
4.7
452
500
957
ILC 
0.3
22
66
88
Banco Internacional
2.2
241
183
426
Confuturo
1.3
108
187
297
Vida Cámara
0.9
81
64
146
Consalud
354
449
212
1,016
RedSalud Corporate
S.I.
26
143
169
Corporate
359
927
856
2,141
16%
Clínica RedSalud Providencia
S.I.
2,745
S.I.
2,745
Clínica RedSalud Santiago
2,432
4,677
9
7,118
Clínica RedSalud Vitacura
S.I.
2,828
S.I.
2,828
Hospitals
2,432
10,250
9
12,692
84%
Regarding activities that contribute to our Carbon 
Footprint, 78% of our scope 1 emissions correspond 
to fugitive emissions produced by coolants in our 
operations, while 22% come from fixed sources 
such as combustion engines and heating boilers. 
Total scope 2 emissions measured come from 
electricity taken from the Chilean National Energy 
System (SEN). Finally, air travel accounts for 91% 
of our scope 3 emissions, and the remaining 9% 
corresponds to taxi use. 
Breakdown by Activity 
Activity
2019 Total 
(tCo2e)
% of Total
% of 
Scope
Fixed-source combustion
601
4%
22%
Vehicle combustion
2
0%
0%
Fugitive emissions (coolants)
2,187
15%
78%
Total Scope 1
2,791
19%
 
Electricity purchased (SEN)
11,177
75%
100%
Total Scope 2
11,177
75%
 
Air travel
783
5%
91%
Taxi travel
82
1%
9%
Total Scope 3
865
6%
 
2019 Total Carbon Footprint
14,833
 
 
Travel Emissions by Business (tCO2e)
Air
Travel
783
Taxi
Travel
82
91
90

Appendix
GRI Content Index
GRI Index: Core Option
General Standard Disclosures
Standard GRI
Description
Page Number
Comments
GRI 102: 
General Disclosures
102-1 Name of the organization
Book Cover 
102-2 Activities, brands, products, and services
10-13
102-3 Location of headquarters
Book Cover
102-4 Location of operations
31
 
102-5 Ownership and legal form
10, 80
102-6 Markets served
10
102-7 Scale of the organization
48
102-8 Information on employees and other workers
48
102-9 Supply chain
20
102-10 Significant changes to the organization and its 
supply chain
32 
102-11 Precautionary Principle or approach
The Company does 
not consider the 
precautionary principle 
on its management 
102-12 External initiatives
16-17
102-13 Membership of associations
68-69
102-14 Statement from senior decision-maker
4-7
102-16 Values, principles, standards, and norms of behavior
11
102-18 Governance structure
21-22
102-40 List of stakeholder groups
20
102-41 Collective bargaining agreements
52
102-42 Identifying and selecting stakeholders 
20
102-43 Approach to stakeholder engagement
18-20
102-44 Key topics and concerns raised
14-15
102-45 Entities included in the consolidated financial 
statements
Annual Report 2019 
(207)
102-46 Defining report content and topic boundaries
14-15
102-47 List of material topics
14-15
102-48 Restatements of information
The restatement of 
information and its 
reasons, are indicated 
in the report in its 
respective indexes, 
graphics, and texts, 
where data from 
previous years have 
been rectified.
93
92

General Standard Disclosures
Standard GRI
Description
Page Number
Comments
GRI 102:
General Disclosures
102-49 Changes in reporting
There were no significant 
changes since the 
previous report.
102-50 Reporting period
101
102-51 Date of the most recent report
101
102-52 Reporting cycle
101
102-53 Contact point for questions regarding the report
Book Cover, 101
102-54 Claims of reporting in accordance with the GRI 
Standards
101
102-55 GRI Content Index
92
102-56 External assurance 
94
Material Aspects
Economic and Financial Development
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
76
103-2 The management approach and its components
76
103-3 Evolution of the management approach
76-79
GRI 201:
Economic Performance
201-1 Direct economic value generated and distributed
76-79
Ethics, Integrity and Transparency
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
24, 62-63
103-2 The management approach and its components
24, 62-63
103-3 Evolution of the management approach
24
GRI 205:
Anti-corruption
205-3 Incidents of corruption and actions taken
During 2019, in ILC 
as well as in its 
subsidiaries, there were 
no registers of incidents 
nor breaches regarding 
corruption.
GRI 206:
Anti-competitive 
conducts
206-1 Legal actions for anti-competitive and/or 
monopolistic practices
During 2019, in ILC 
as well as in its 
subsidiaries, there were 
no registers of incidents 
nor breaches regarding 
anti-competitive nor 
monopolistic practices.
GRI 406:
Non discrimination
406-1 Discrimination incidents and actions taken
24-25
Enviroment
GRI 103: 
Management Approach
103-1 Explanation of the material topic and its boundary
85
103-2 The management approach and its components
85
103-3 Evolution of the management approach
88-91
GRI 302: Energy
302-1 Energy consumption within the organization
88
GRI 303:
Water and Effluents
303-5 Water consumption
87
General Standard Disclosures
Standard GRI
Description
Page Number
Comments
GRI 305:
Emissions
305-1 Direct (Scope 1) GHG emissions
89-91
305-2 Energy indirect (Scope 2) GHG emissions
89-91
305-3 Other indirect (Scope 3) GHG emissions
89-91
GRI 306:
Waste
306-2 Management of significant waste-related impacts
88
Attracting and Retaining Talent
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
58
103-2 The management approach and its components
58
103-3 Evolution of the management approach
60
GRI 401: Employment
401-1 New employee hires and employee turnover
48, 57
GRI 405:
Diversity and Equal 
Opportunity 
405-1 Diversity of governance bodies and employees
48-50
Human Capital Development
GRI 103: 
Management Approach
103-1 Explanation of the material topic and its boundary
58
103-2 The management approach and its components
58
103-3 Evolution of the management approach
58
GRI 404:
Training and Education
 
404-1 Average hours of training per year per employee
58
404-3 Percentage of employees receiving regular 
performance and career development reviews
58
Commitment to the Comunity
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
40
103-2 The management approach and its components
40
103-3 Evolution of the management approach
43
GRI 413: 
Local Communities
413-1 Operations with local community engagement impact 
assessments, and development programs
40-43
Customer Satisfaction
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
34
103-2 The management approach and its components
34
103-3 Evolution of the management approach
37
GRI 418:
Customer privacy
418-1 Substantiated complaints concerning breaches of 
customer privacy and losses of customer data
37
Governance 
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
21
103-2 The management approach and its components
21
103-3 Evolution of the management approach
22
Annual average atendance of directors
22
95
94

General Standard Disclosures
Standard GRI
Description
Page Number
Comments
Ethical Business Process
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
63
103-2 The management approach and its components
63
103-3 Evolution of the management approach
63
Mechanisms to report violations
62-63
Contribution to Public Debate
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
66
103-2 The management approach and its components
66
103-3 Evolution of the management approach
67-69
Total contribution in memberships 
68
Financial and Healthcare Education
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
43
103-2 The management approach and its components
43
103-3 Evolution of the management approach
43
Educational programs
43
Demographic Changes 
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
34
103-2 The management approach and its components
34
103-3 Evolution of the management approach
34
Monitoring of demographic changes and population 
statistics
34
Sustainable Finance 
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
74
103-2 The management approach and its components
74
103-3 Evolution of the management approach
76-84
Use of ESG criteria in investment approaches  
82-84
Technological Challenge
GRI 103:
Management Approach
103-1 Explanation of the material topic and its boundary
38
103-2 The management approach and its components
38
103-3 Evolution of the management approach
39
Information about security breaches  
39
97
96

Appendix
Assurance
Letter 
© KPMG Auditores Consultores SpA, a Chilean joint-stock company and a member firm of the KPMG network of 
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. 
All rights reserved.
Santiago
Isidora Goyenechea 3520
Piso 2, Las Condes
+56 2 2997 1000
contacto@kpmg.com
Independent Review Report 
Inversiones La Construcción’s 2019 Sustainability Report 
To the President and Directors of 
Inversiones La Construcción S.A. 
Present 
We have conducted a limited review of the content and data 
disclosed to GRI 303-5, 302-1, 306-2 and Absence Rate 
(henceforth “indicators subject to review”) reported in the 2019 
Sustainability 
Report 
of 
ILC 
for 
the 
year 
ended 
on  
December 31, 2019, which is detailed below: 
•
GRI 303-5 Water Consumption for ILC S.A., Compañía 
de Seguros Confuturo S.A.; Banco Internacional S.A; 
and Compañía de Seguro Vida Cámara S.A. 
•
GRI 302-1 Energy consumption within the organization 
for ILC S.A., Compañía de Seguros Confuturo S.A.; 
Banco Internacional S.A; Compañía de Seguro Vida 
Cámara S.A. and Empresas Red Salud S.A. 
•
GRI 306-2 Waste by type and disposal method for ILC 
S.A., Compañía de Seguros Confuturo S.A.; Banco 
Internacional S.A; Compañía de Seguro Vida Cámara 
S.A. and Empresas Red Salud S.A. 
•
Absence Rate for ILC S.A., Compañía de Seguros 
Confuturo S.A.; Banco Internacional S.A; Compañía de 
Seguro Vida Cámara S.A.; Empresas Red Salud S.A. and 
Isapre Consalud S.A.  
ILC’s management is responsible for the preparation of this 
report. Additionally, ILC’s Administration is responsible for the 
contents, affirmations, scope definition and the management and 
control of information systems which provided the information 
reported. 
Our review was conducted in accordance with attestation 
engagement standards established by the Colegio de Contadores 
de Chile A.G. A review is substantially less in scope than an 
examination, the objective of which is the expression of an 
opinion over “ILC’s 2019 Sustainability Report”. Accordingly, we 
do not express such an opinion. 
Contents and data disclosed in the “indicators subject to review” 
in “ILC’s 2019 Sustainability Report” were also reviewed 
considering the criteria established in the Global Reporting 
Initiative (GRI) Sustainability Reporting Standard and ILC’s internal 
guidelines, which are summarized as follows: 
•
Determine that the contents and data disclosed in 
“indicator 
subject 
to 
review” 
in 
“ILC’s 
2019 
Sustainability Report” are duly supported with sufficient 
evidence. 
•
Determine that ILC has prepared the contents and data 
of the “indicators subject to review” in “ILC´s 2019 
Sustainability Report” in accordance with the Principles 
on Content and Quality as established by the GRI 
Standard and its internal guidelines. 
Our procedures consisted of conducting inquiries with ILC’s 
Directory, Management and responsible areas involved in the 
preparation of the Report, as well as performing other 
analytical procedures and tests, that included: 
•
Interviews with ILC’s key personnel, in order to 
assess the “indicators subject to review” in 
“ILC’s 2019 Sustainability Report” preparation 
process, content definition and information systems 
used.  
•
Verification of information and data related to the 
“indicators subject to review” in “ILC’s 2019 
Sustainability 
Report” 
through 
supporting 
documentation provided by ILC. 
•
Analysis of the collection and internal control 
process of the content information and data related 
to the “indicators subject to review” in “ILC’s 2019 
Sustainability Report”. 
•
Verification of the data reliability using analytical 
procedures and testing on a sample basis and the 
review of calculations through recalculations. 
Based on our review, nothing came to our attention that 
caused us to believe that: 
•
Contents of information and data related to the 
“indicators subject to review” in “ILC’s 2019 
Sustainability Report” are not duly supported with 
sufficient evidence. 
•
The information and data contents related to the 
“indicators subject to review” reported in the  
“ILC’s 2019 Sustainability Report” has not been 
prepared in accordance with the GRI Sustainability 
Standard and its internal guidelines 
KPMG Auditores Consultores SpA 
Tamara Agnic M. 
Partner 
Santiago, June 24, 2020 
99
98

About
this Report
About this Report
Throughout this report, we inform our stakeholders about the identification and 
the importance of the material aspects mentioned above, which is the basis of 
our Company regarding sustainability. This is ILC´s eighth report, which follows 
the alinements of the Global Reporting Initiative, and has been prepared in 
accordance with the Core Option of the GRI Standards.
This report is focused on the management of ILC and its subsidiaries - Confuturo, 
Banco Internacional, RedSalud, Consalud and Vida Cámara - regarding their 
operations in Chile from January 1st to December 31st 2019.
Part of the content of this report has been verified by the external consultant 
KPMG, as the auditor´s letter determines. For any questions and comments 
regarding this report and the sustainable management of ILC, contact:
María de los Ángeles Arce, 
mdlaarce@ilcinversiones.cl, 
+56 2 2477 4683
Cristina Trejo,
ctrejo@ilcinversiones.cl,
+56 2 2477 4681
Gustavo Maturana,
gmaturana@ilcinversiones.cl,
+56 2 2477 4680
Av. Apoquindo 6750, piso 20
Las Condes,
Santiago de Chile 
Appendix
101
100

Design and Production
Espacio Vital
www.espaciovital.cl

www.ilcinversiones.cl