Preheat oven to 375 degrees. Line a rimmed baking sheet with aluminum foil; set aside.
In a large skillet over medium heat, heat olive oil. Add onion and green pepper and cook until vegetables are very soft and lightly caramelized, about 10 minutes. Set aside to cool briefly.
In a large bowl, combine beef, pork, vegetable mixture, breadcrumbs, 1 1/4 teaspoons salt, 1/2 teaspoon pepper, and Essence. In a separate bowl, combine eggs and cream; pour over meat mixture. Gently mix to combine (do not overmix).
Place half the meat mixture on prepared baking sheet; form into a 9-by-4-inch loaf. Using a paring knife, remove casing from chorizo, keeping the shape intact. Place chorizo lengthwise down center of loaf. Cover with rest of meat mixture, enclosing chorizo and patting to adhere.
In a small bowl, combine chili sauce, dark brown sugar, and Worcestershire and stir to blend. Brush over meatloaf. Bake, basting occasionally with pan juices, until an instant-read thermometer inserted in center of loaf registers 160 degrees, about 1 hour. Let rest 15 minutes before serving.