Argentina Insurance Report Q1 2015
At the end of October 2014, the regulator confirmed that total insurance premiums had risen by nearly 6% in real ARS terms over the year to the end of June. The growth was boosted by the life segment and the motor vehicle sub-sector of the non-life segment. Premiums for most other lines were broadly unchanged in real ARS terms. This includes the important workers compensation (ART - to give it its Spanish acronym) line.
The life segment is dominated by group life products. The real growth in premiums, in face of the persistently difficult economic environment, suggests that the leading companies are successful in developing and distributing attractive products to corporate clients.
In the non-life segment, many of the leading companies have noted how they have been able to achieve good increases in premiums because of the high inflation. In essence, they have been lifting prices (and, maybe, volumes) in real terms. Because of the persistence of inflation, the customers have not had a clear view of the real price that they have been paying for cover - especially in the important motor vehicle insurance sub-sector. This means that the insurers have pricing power, even though the competitive landscape is fragmented.
These trends are likely to persist, with the result that premiums will rise in real terms in both major segments over the forecast period. There are two positive wildcards, which pertain mainly to the life segment. These are the possibility of tax incentives for life insurance and retirement savings and the potential for financial...
The Argentina Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Argentina Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Argentinian insurance industry.
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BMI Industry View
Summary of BMI's key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.
Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends, focusing on BMI's country-by-country market growth data.
Business Environment Rankings
BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.
The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
BMI Industry Forecasts
Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:
Premiums: Total (US$mn), growth (% y-o-y), penetration (% of GDP), density (US$ per capita) for Life and Non-Life sectors, and total premiums.
Life: Data on gross written premiums for all major non-life segments (e.g. motor, fire, work).
Non-life: Data on gross written premiums for all major life segments (e.g. life, retirement).
Economic: Nominal GDP (US$bn), real GDP growth (%), GDP per capita (US$), population (mn), unemployment (%), exchange rate (against US$).
Competitive Landscape & Rankings
Illustration of the insurance industry via rankings tables comparing gross written premiums by company (US$mn) and market share (%). This chapter also includes in-depth regional analysis of the market position, business strategies and investment potential of the leading insurance companies.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
We think that two key trends will persist over the medium term, with the result that premiums will rise in real terms in both major segments through the forecast period. There are also two positive wildcards, which pertain mainly to the life segment. These are the possibility of tax incentives for life insurance and retirement savings and the potential for financial markets to be a lot more stable in 2015.
BMI Industry View
Total Premiums Forecast
Total Gross Premiums
Table: Total Gross Premiums Written (Argentina 2011-2018)
Table: Assets (Argentina 2005-2012)
Table: Total Insurance Liabilities (Argentina 2005-2012)
Life Premiums Forecast
Table: Gross Life Premiums Written (Argentina 2011-2018)
Life Insurance Drivers
Table: Insurance Key Drivers, Private Health Expenditure (Argentina 2011-2018)
Table: Insurance Key Drivers, Disease Adjusted Life Years (Argentina 2011-2018)
Non-Life Premiums Forecast
Table: Gross Non-Life Premiums Written (Argentina 2011-2018)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Argentina 2011-2018)
Motor Vehicle And Transport Insurance
Table: Motor Vehicle Insurance (Argentina 2011-2018)
Table: Transport Insurance (Argentina 2011-2018)
Table: Insurance Key Drivers, Freight Tonnage (Argentina 2011-2018)
Table: Property Insurance (Argentina 2011-2018)
Personal Accident Insurance
Table: Personal Accident Insurance (Argentina 2011-2018)
Industry Risk Reward Ratings
Latin America Insurance Risk/Reward Ratings
Table: Latin America Risk/Reward Ratings
Life Market Overview
Non-Life Market Overview
Grupo La Caja
Grupo Sancor Seguros
QBE Insurance Group
Table: Argentina's Population By Age Group, 1990-2020 ('000)
Table: Argentina's Population By Age Group, 1990-2020 (% of total)
Table: Argentina's Key Population Ratios, 1990-2020
Table: Argentina's Urban And Rural Population, 1990-2020
Industry Forecast Methodology
Risk/Reward Rating Methodology
Table: Weighting of Indicators
This report does not have a list of Companies Mentioned available
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