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Argentina Insurance Report Q1 2017

  • November 2016
  • -
  • Business Monitor International
  • -
  • 57 pages

Includes 3 FREE quarterly updates

BMI View:
Argentina's insurance sector presents potential investors with significant challenges and opportunities. Coverage rates are relatively low, particularly in the life insurance segment, indicating potential for the market to grow rapidly from a low base as income and employment rates improve. Diversification of the products available in the market will help to develop the non-life sector beyond basic motor and worker's compensation lines and regulatory changes in both life and non-life will improve operating and investment conditions. That being said, Argentina's economy faces significant headwinds, not the least of which is rapid consumer price inflation and claims costs in some lines are very high, which makes the market less attractive than others in the region.

Key Updates and Forecasts


- In September 2016 it was reported that the government is developing a new Worker's Compensation law in order to reduce costs faced by employers. Worker's compensation insurance can account for as much as 20% of labour costs and Cabinet Secretary Mario Quintana notes that insurance companies face an estimated USD5bn in liabilities (from pending cases).

- Worker's compensation, along with motor insurance, make up the vast majority of premiums written in the non-life market. Total non-life premiums are forecast to grow by 26.8% in local currency terms in 2016 to reach ARS162.8bn. The devaluation of the peso means this will translate to a fall of 18.2% in USD terms to a total of USD11.3bn.

Table Of Contents

Argentina Insurance Report Q1 2017
BMI Industry View 5
Table: Headline Insurance Forecasts (Argentina 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Argentina 2013-2020) 12
Table: Life Insurance Claims (Argentina 2008-2015) 13
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Argentina 2013-2020) 16
Table: Non-Life Insurance Claims (Argentina 2009-2015) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums By Product Line (Argentina 2013-2020) 26
Insurance Risk/Reward Index 28
Latin America and the Caribbean Insurance Risk/Reward Index 28
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q117 29
Market Overview 30
Life Market Overview 30
Product Offering 30
Competitive Landscape 30
Table: Argentina Life Insurance market Shares (USDmn), 2012-2015 32
Non-Life Market Overview 33
Product Offering 33
Competitive Landscape 33
Table: Non-Life Market Share (USDmn), 2012-2015 35
Company Profile 37
Grupo La Caja 37
Grupo Sancor Seguros 40
MAPFRE Argentina 43
QBE Insurance Group 45
Zurich Argentina 48
Methodology 51
Industry Forecast Methodology 51
Sector-Specific Methodology 52
Risk/Reward Index Methodology 54
Table: Indicators 56
Table: Weighting of Indicators 57

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