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  4. > Argentina Insurance Report Q3 2016

Argentina Insurance Report Q3 2016

  • July 2016
  • -
  • Business Monitor International
  • -
  • 62 pages

Includes 3 FREE quarterly updates

BMI View: As a result of Argentina's decision to float the peso in December and its subsequentdepreciation against major currencies, insurance premiums will continue declining in US dollar terms in2016. BMI anticipates an acceleration in real GDP growth from late 2016, although inflation will remainelevated and will weigh on growth in demand for insurance. However, greater access to US dollars and amore favourable business environment will prompt an uptick in investment which will, from 2017, lead to aboost in demand. In the coming years, the peso will appreciate gradually as foreign money flows into theeconomy accelerate, which should support growth in premiums in US dollar terms. The non-life segmentwill grow faster than life premiums due to high demand for motor insurance lines and other personalcovers. Nevertheless, the life market will benefit from a recovery in incomes and a desire for alternativeinvestment products that are more insulated from the volatility of the markets.

- We have made revisions to our forecast in the Q3 2016 report update. We believe that the insuranceindustry as whole will grow by 18.1% in 2016 in local currency terms. Nevertheless, currencydepreciation will ensure a decline in premiums of 28.6% in dollar terms. Dollar premiums will plummetto USD11bn.

- Life premiums will grow by 21% in local currency terms but decline by 27% in dollar terms due tocurrency fluctuations. We are expecting life premiums to total approximately USD1.7bn.

- The non-life insurance market will also witness similar trends, growing by 17.5% in local currency whilstwitnessing a strong decline of 28.9% in dollar terms in 2016. We expect non-life premiums to amount toUSD9.3bn.

Table Of Contents

Argentina Insurance Report Q3 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Argentina 2013-2020) 7
Insurance 8
Industry Forecast 10
Life Premiums Forecast 10
Table: Life Premiums (Argentina 2013-2020) 14
Table: Life Insurance Claims (Argentina 2008-2014) 15
Non-Life Premiums Forecast 16
Table: Non-Life Premiums (Argentina 2013-2020) 19
Table: Non-Life Insurance Claims (Argentina 2009-2014) 21
Non-Life Sub-Sector Forecast 22
Table: Non-Life Insurance Premiums by Product Line (Argentina 2013-2020) 30
Insurance Risk/Reward Index 32
Latin America Insurance Risk/Reward Index 32
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q316 33
Market Overview 34
Life Market Overview 34
The Product Offering 34
The Competitive Landscape 34
Table: Life insurance market shares (USDmn), 2012-2014 36
Non-Life Market Overview 37
The Product Offering 37
The Competitive Landscape 37
Table: Non-Life Market Share (USDmn) 2012-2014 38
Company Profile 41
Grupo La Caja 41
Grupo Sancor Seguros 44
MAPFRE Argentina 47
QBE Insurance Group 49
Zurich Argentina 52
Table: Financial Results: USDmn 54
Table: Consolidated Income Statements (USDmn) 54
Methodology 56
Industry Forecast Methodology 56
Risk/Reward Index Methodology 59
Table: Indicators 61
Table: Weighting of Indicators 62

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