Argentina Insurance Report Q2 2015

Mar 23, 2015 - Business Monitor International - 69 pages - USD $1,295
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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.

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 BMI Research'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.

Key Benefits
  • Benchmark BMI's independent insurance industry forecasts for Argentina to test other views - a key input for successful budgeting and strategic business planning in Argentina's insurance market.
  • Target business opportunities and risks in Argentina through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
  • Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
Coverage

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.

BMI Industry Forecasts

Historic data series (2005-2014) and forecasts to end-2019 for key industry indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:
  • Life/non-life Premiums: Total premium growth (USDmn), premium growth (% y-o-y), penetration (% of GDP), density (USD per capita) for Life and Non-Life sectors, claims reinsurance, and assets and liabilities.
  • Non-life subsectors: Data on gross written premiums for all major Non-Life segments (motor, transport, property, personal accident, health, general liability and credit financial).
BMI’s Insurance Risk Reward Index

BMI’s Risk Reward Indices provide investors (Life and Non-Life) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. 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.

Growth Drivers & Risk Management Projections

Key data and forecasts to end-2019 focusing on the growth drivers and downside risks to specific insurance lines including:
  • Population: Male/female, by age group, active/pensionable/youth population % of total, urban/rural population % of total.
  • Freight: Tonnage – air freight, rail freight, road freight, inland waterway.
  • Motor: Fleet size by type of vehicle % change y-o-y.
  • Epidemiology: Disease Adjusted Life Years and private health expenditure.
Market Overview & Rankings

Illustration of the insurance industry via rankings tables comparing gross written premiums by company (USDmn) and market share (%) for the top 20 players in both Life and Non-Life. This chapter also includes in-depth regional analysis of the market position, business strategies and investment potential of the leading insurance companies.

Sources

The insurance Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.


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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports.