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Ohio National Life Insurance Group S.A. triggers dispute resolution mechanism under the U.S.-Chile FTA Agreement

Photo by Ximena Nahmias / Unsplash

Insurance company Ohio National Seguros de Vida S.A has formally initiated the Investor-State Dispute Settlement mechanism provided for in Art. 10.14 of the Free Trade Agreement between the Government of the United States of America and the Government of the Republic of Chile. It did so via a letter sent by its controller, ON Global Holding LLC, and the subsidiary Ohio National Financial Services Inc. to Mr. Andrés Allamand Zavala, Minister of Foreign Affairs of Chile.

Another letter* was sent by Ohio National Seguros de Vida S.A. to the President of the Financial Market Regulatory Commission, Mr. Joaquín Cortez, on 12 May 2021. A copy of this letter was obtained by news website, and is reproduced below in its relevant part.

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