Argentina Insurance Report Q2 2016

Date: March 2, 2016
Pages: 56
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

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Includes 3 FREE quarterly updates

BMI View: The Argentinean insurance sector has been exposed to a multitude of economic woes, including slowdown in macroeconomic growth, high inflation and a rapid volatility in the currency movements. The life and non-life carriers have felt their earning powers being eroded by high inflation and depreciation of the peso. However we continue to hold a generally positive trend for the industry over the course of our forecast period as economic output accelerates and consumer spending returns. Growth will be driven by high demand in motor insurance lines and other personal covers. In the life segment a robust market for group policies is emerging, which should support growth in premiums in absolute terms over the next few years. Nevertheless, we maintain our view that the operating environment for insurers will remain extremely challenging for the foreseeable future and will therefore see limited interest from new entrants and investors.
  • We have made revisions to our forecast in the Q2 2016 report update. We believe that the insurance industry as w whole will grow by 20% in 2016 in local currency terms. Nevertheless, currency depreciation will ensure a decline in premiums of 24% in dollar terms. Dollar premiums will plummet to USD10.7bn.
  • Life premiums will grow by 20% in local currency terms but decline by 24% in dollar terms due to currency fluctuations. We are expecting life premiums to total approximately USD1.8bn.
  • The non-life insurance market will also witness similar trends, growing by 20% in local currency whilst witnessing a strong decline of 24% in dollar terms in 2016. We expect non-life premiums to amount to USD8.9bn.
BMI Industry View
  Table: Headline Insurance Forecasts (Argentina 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Argentina 2013-2020)
  Table: Life Insurance Claims (Argentina 2008-2015)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Argentina 2013-2020)
  Table: Non-Life Insurance Claims (Argentina 2009-2015)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Argentina 2013-2020)
Insurance Risk/Reward Index
Latin America Insurance Risk/Reward Index
  Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life insurance market shares (USDmn), 2012-2014
Non-Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Non-Life Market Share (USDmn) 2012-2014
Company Profile
Grupo La Caja
Grupo Sancor Seguros
MAPFRE Argentina
QBE Insurance Group
Zurich Argentina
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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