Non-Life Insurance in Argentina, Key Trends and Opportunities to 2020

Date: October 26, 2016
Pages: 139
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US$ 1,450.00
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Publisher: Timetric
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: NC3872E15B7EN
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Non-Life Insurance in Argentina, Key Trends and Opportunities to 2020
SYNOPSIS

Timetric’s 'Non-Life Insurance in Argentina Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Argentine non-life insurance segment, and a comparison of the Argentine insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Argentine economy and demographics, explains the various types of natural hazard and their impact on the Argentine insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

SUMMARY

Timetric’s 'Non-Life Insurance in Argentina Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Argentine non-life insurance segment, including:
  • The Argentine non-life segment’s detailed outlook by product category
  • A comprehensive overview of the Argentine economy and demographics
  • A comparison of the Argentine non-life insurance segment with its regional counterparts
  • The various distribution channels in the Argentine non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Argentine insurance industry
  • Details of the competitive landscape in the non-life insurance segment in Argentina
  • Details of regulatory policy applicable to the Argentine insurance industry
SCOPE

This report provides a comprehensive analysis of the non-life insurance segment in Argentina:
  • It provides historical values for the Argentine non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Argentine non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Argentine non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in Argentina.
  • It analyzes various natural and man-made hazards and their impact on the Argentine insurance industry
  • It profiles the top non-life insurance companies in Argentina, and outlines the key regulations affecting them.
REASONS TO BUY
  • Make strategic business decisions using in-depth historic and forecast market data related to the Argentine non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Argentine non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Argentine insurance industry, and their impact on companies and the industry's future.
KEY HIGHLIGHTS
  • The Argentine non-life segment accounted for 80.2% of the industry’s gross written premium in 2015.
  • In 2015, the non-life segment’s penetration was 2.2%.
  • Argentina is a major exporter of agricultural products, and export earnings from agricultural products form a large part of its GDP.
  • The Argentine non-life segment is fragmented, with the 10 leading insurers accounting for 44.9% of the segment’s gross written premium in 2015.
  • Non-life insurance policies in Argentina are mainly sold through channels such as direct marketing, brokers, bancassurance and agencies.
1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 ECONOMY AND DEMOGRAPHICS

4 SEGMENT OUTLOOK

4.1 Regional Comparison
4.2 Segment Indicators
  4.2.1 Gross written premium and penetration
  4.2.2 Policies sold
  4.2.3 Claims
  4.2.4 Profitability
  4.2.5 Assets and investments

5 OUTLOOK BY CATEGORY

5.1 Property Insurance
  5.1.1 Product overview
  5.1.2 Premium
  5.1.3 Policies sold
  5.1.4 Claims
  5.1.5 Profitability
5.2 Motor Insurance
  5.2.1 Product overview
  5.2.2 Premium
  5.2.3 Policies sold
  5.2.4 Claims
  5.2.5 Profitability
5.3 Liability Insurance
  5.3.1 Product overview
  5.3.2 Premium
  5.3.3 Policies sold
  5.3.4 Claims
  5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
  5.4.1 Product overview
  5.4.2 Premium
  5.4.3 Policies sold
  5.4.4 Claims
  5.4.5 Profitability

6 DISTRIBUTION CHANNEL OUTLOOK

6.1 Analysis by Distribution Channel

7 NATURAL HAZARDS

7.1 Flooding
7.2 Droughts
7.3 Volcanic Activity
7.4 Landslides
7.5 Storms
7.6 Exposure

8 COMPETITIVE LANDSCAPE

8.1 Company Profiles
  8.1.1 Federación Patronal Seguros SA – company overview
  8.1.2 Caja de Seguros SA – company overview
  8.1.3 Prevención Aseguradora de Riesgos del Trabajo SA – company overview
  8.1.4 Galeno ART SA – company overview
  8.1.5 Sancor Cooperativa de Seguros Ltd – company overview

9 GOVERNANCE, RISK AND COMPLIANCE

9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
  9.3.1 Life insurance
  9.3.2 Property insurance
  9.3.3 Motor insurance
  9.3.4 Liability insurance
  9.3.5 Marine, aviation and transit insurance
  9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
  9.4.1 Motor third-party liability insurance
  9.4.2 Civil liability insurance for passenger transport vehicles
  9.4.3 Clinical trials liability insurance
  9.4.4 Social security scheme
  9.4.5 Professional indemnity insurance for reinsurance brokers
  9.4.6 Third party liability insurance for lift operators
  9.4.7 Bond insurance for travel agents
  9.4.8 Professional indemnity insurance for directors and managers of public and private limited companies
  9.4.9 Insurance for drones
  9.4.10 Mandatory group life insurance
  9.4.11 Liability insurance for ships with respect to oil pollution
9.5 Supervision and Control
  9.5.1 International Association of Insurance Supervisors
  9.5.2 Association of Insurance Supervisors Latin America
  9.5.3 Superintendence of Insurance
  9.5.4 Asociacion de Administradores de Riesgos de la Republica Argentina
  9.5.5 Asociación Argentina de Compañías de Seguros
  9.5.6 Aseguradores del Interior de la República Argentina
  9.5.7 Asociación de Aseguradores de Vida y Retiro de la República Argentina
9.6 Non-Admitted Insurance Regulations
  9.6.1 Overview
  9.6.2 Intermediaries
  9.6.3 Market practices
  9.6.4 Fines and penalties
9.7 Company Registration and Operations
  9.7.1 Type of insurance organization
  9.7.2 Establishing a local company
  9.7.3 Foreign ownership
  9.7.4 Types of license
  9.7.5 Capital requirements
  9.7.6 Solvency margins
  9.7.7 Reserve requirements
  9.7.8 Investment regulations
  9.7.9 Statutory return requirements
  9.7.10 Fee structure
9.8 Taxation
  9.8.1 Insurance premium or policy taxation
  9.8.2 Withholding taxes on premium paid overseas
  9.8.3 Corporate tax
  9.8.4 VAT
  9.8.5 Captives
9.9 Legal System
  9.9.1 Introduction
  9.9.2 Access to court
  9.9.3 Alternative dispute resolution (ADR)

10 DATABOOK

10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Liability Insurance
10.11 Marine, Aviation and Transit Insurance

11 DEFINITIONS AND METHODOLOGY

11.1 Definitions
11.2 Methodology

12 ABOUT TIMETRIC

12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric’s Services
12.4 Disclaimer


LIST OF TABLES

Table 1: Argentine Non-Life Insurance – Key Facts, 2015
Table 2: Argentine Non-Life Insurance – Segment Shares of the Top Insurers, 2015
Table 3: Argentina – Government Credit Ratings
Table 4: Argentine Non-Life Insurance – Gross Written Premium (ARS Billion and US$ Billion), 2011–2015
Table 5: Argentine Non-Life Insurance – Penetration (%), 2011–2015
Table 6: Argentine Non-Life Insurance – Gross Written Premium (ARS Billion and US$ Billion), 2015–2020
Table 7: Argentine Non-Life Insurance – Penetration (%), 2015–2020
Table 8: Argentine Non-Life Insurance – Premium per Capita (ARS and US$), 2011–2015
Table 9: Argentine Non-Life Insurance – Premium per Capita (ARS and US$), 2015–2020
Table 10: Argentine Non-Life Insurance – Number of Policies Sold (Million), 2011–2015
Table 11: Argentine Non-Life Insurance – Number of Policies Sold (Million), 2015–2020
Table 12: Argentine Non-Life Insurance – Paid Claims (ARS Billion and US$ Billion), 2011–2015
Table 13: Argentine Non-Life Insurance – Paid Claims (ARS Billion and US$ Billion), 2015–2020
Table 14: Argentine Non-Life Insurance – Profitability Ratio (%), 2011–2015
Table 15: Argentine Non-Life Insurance – Profitability Ratio (%), 2015–2020
Table 16: Argentine Non-Life Insurance – Total Assets (ARS Billion and US$ Billion), 2011–2015
Table 17: Argentine Non-Life Insurance – Total Assets (ARS Billion and US$ Billion), 2015–2020
Table 18: Argentine Non-Life Insurance – Total Investment Income (ARS Billion and US$ Billion), 2011–2015
Table 19: Argentine Non-Life Insurance – Total Investment Income (ARS Billion and US$ Billion), 2015–2020
Table 20: Argentine Non-Life Insurance – Investment Portfolio (ARS Billion), 2011–2015
Table 21: Argentine Non-Life Insurance – Investment Portfolio (ARS Billion), 2015–2020
Table 22: Argentine Non-Life Insurance – Direct Written Premium by Category (ARS Billion), 2011–2015
Table 23: Argentine Non-Life Insurance – Direct Written Premium by Category (ARS Billion), 2015–2020
Table 24: Argentine Property Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2011–2015
Table 25: Argentine Property Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2015–2020
Table 26: Argentine Property Insurance – Number of Policies Sold by Sub-Category (Thousand), 2011–2015
Table 27: Argentine Property Insurance – Number of Policies Sold by Sub-Category (Million), 2015–2020
Table 28: Argentine Property Insurance – Paid Claims (ARS Billion and US$ Billion), 2011–2015
Table 29: Argentine Property Insurance – Paid Claims (ARS Billion and US$ Billion), 2015–2020
Table 30: Argentine Property Insurance – Loss Ratio (%), 2011–2015
Table 31: Argentine Property Insurance – Loss Ratio (%), 2015–2020
Table 32: Argentine Motor Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2011–2015
Table 33: Argentine Motor Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2015–2020
Table 34: Argentine Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2015
Table 35: Argentine Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2015–2020
Table 36: Argentine Motor Insurance – Paid Claims (ARS Billion and US$ Billion), 2011–2015
Table 37: Argentine Motor Insurance – Paid Claims (ARS Billion and US$ Billion), 2015–2020
Table 38: Argentine Motor Insurance – Loss Ratio (%), 2011–2015
Table 39: Argentine Motor Insurance – Loss Ratio (%), 2015–2020
Table 40: Argentine Liability Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2011–2015
Table 41: Argentine Liability Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2015–2020
Table 42: Argentine Liability Insurance – Number of Policies Sold (Thousand), 2011–2015
Table 43: Argentine Liability Insurance – Number of Policies Sold (Thousand), 2015–2020
Table 44: Argentine Liability Insurance – Paid Claims (ARS Billion and US$ Billion), 2011–2015
Table 45: Argentine Liability Insurance – Paid Claims (ARS Billion and US$ Billion), 2015–2020
Table 46: Argentine Liability Insurance – Loss Ratio (%), 2011–2015
Table 47: Argentine Liability Insurance – Loss Ratio (%), 2015–2020
Table 48: Argentine Transport Network – Global Rankings
Table 49: Argentine Marine, Aviation and Transit Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2011–2015
Table 50: Argentine Marine, Aviation and Transit Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2015–2020
Table 51: Argentine Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2015
Table 52: Argentine Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2015–2020
Table 53: Argentine Marine, Aviation and Transit Insurance – Paid Claims (ARS Million and US$ Million), 2011–2015
Table 54: Argentine Marine, Aviation and Transit Insurance – Paid Claims (ARS Billion and US$ Billion), 2015–2020
Table 55: Argentine Marine, Aviation and Transit Insurance – Loss Ratio (%), 2011–2015
Table 56: Argentine Marine, Aviation and Transit Insurance – Loss Ratio (%), 2015–2020
Table 57: Argentine Non-Life Insurance – Direct Written Premium by Distribution Channel (ARS Billion), 2011–2015
Table 58: Argentine Non-Life Insurance – Direct Written Premium by Distribution Channel (ARS Billion), 2015–2020
Table 59: Argentine Non-Life Insurance – Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011–2020
Table 60: Argentine Non-Life Insurance – Segment Shares of Leading Insurers (%), 2015
Table 61: Federación Patronal Seguros SA – Key Facts
Table 62: Federación Patronal Seguros SA – Key Financials (ARS Billion), 2011–2015
Table 63: Caja de Seguros SA – Key Facts
Table 64: Caja de Seguros SA – Key Financials (ARS Billion), 2011–2015
Table 65: Prevención Aseguradora de Riesgos del Trabajo SA – Key Facts
Table 66: Prevención Aseguradora de Riesgos del Trabajo SA – Key Financials (ARS Billion), 2011–2015
Table 67: Galeno ART SA – Key Facts
Table 68: Galeno ART SA – Key Financials (ARS Billion), 2011–2015
Table 69: Sancor Cooperativa de Seguros Ltd – Key Facts
Table 70: Sancor Cooperativa de Seguros Ltd – Key Financials (ARS Billion), 2011–2015
Table 71: Argentina – Insurance Regulatory Framework Key Features
Table 72: Argentina – Life Insurance Regulatory Framework
Table 73: Argentina – Property Insurance Regulatory Framework
Table 74: Argentina – Motor Insurance Regulatory Framework
Table 75: Argentina – Liability Insurance Regulatory Framework
Table76: Argentina – Corporate Tax Rates for the Financial Year 2016
Table 77: Argentine Insurance Industry – Policies and Premium, 2011–2015
Table 78: Argentine Insurance Industry – Policies and Premium, 2015–2020
Table 79: Argentine Non-Life Insurance – Claims and Expenses, 2011–2015
Table 80: Argentine Non-Life Insurance – Claims and Expenses, 2015–2020
Table 81: Argentine Non-Life Insurance – Assets and Investments, 2011–2015
Table 82: Argentine Non-Life Insurance – Assets and Investments, 2015–2020
Table 83: Argentine Non-Life Insurance – Direct Marketing and E-Commerce, 2011–2015
Table 84: Argentine Non-Life Insurance – Direct Marketing and E-Commerce, 2015–2020
Table 85: Argentine Non-Life Insurance – Insurance Brokers and Agencies, 2011–2015
Table 86: Argentine Non-Life Insurance – Insurance Brokers and Agencies, 2015–2020
Table 87: Argentine Non-Life Insurance – Insurance Brokers and Agencies, 2011–2015
Table 88: Argentine Non-Life Insurance – Insurance Brokers and Agencies, 2015–2020
Table 89: Argentine Non-Life Insurance – Property Insurance, 2011–2015
Table 90: Argentine Non-Life Insurance – Property Insurance, 2015–2020
Table 91: Argentine Non-Life Insurance – Property Insurance by Product, 2011–2015
Table 92: Argentine Non-Life Insurance – Property Insurance by Product, 2015–2020
Table 93: Argentine Non-Life Insurance – Motor Insurance, 2011–2015
Table 94: Argentine Non-Life Insurance – Motor Insurance, 2015–2020
Table 95: Argentine Non-Life Insurance – Liability Insurance, 2011–2015
Table 96: Argentine Non-Life Insurance – Liability Insurance, 2015–2020
Table 97: Argentine Non-Life Insurance – Marine, Aviation and Transit Insurance, 2011–2015
Table 98: Argentine Non-Life Insurance – Marine, Aviation and Transit Insurance, 2015–2020
Table 99: Insurance Industry Definitions

LIST OF FIGURES

Figure 1: Argentina – Real GDP (ARS Billion), 2011–2020
Figure 2: ARS–US$ Exchange Rate, 2011–2020
Figure 3: Argentina – Current Account Balance, 2011–2020
Figure 4: Argentina – Unemployment Rate, 2011–2020
Figure 5: Argentina – Population by Age Group, 1991–2025
Figure 6: Argentine Non-Life Insurance Penetration – Regional Comparison (%), 2015
Figure 7: Argentine Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015
Figure 8: Argentine Non-Life Insurance – Gross Written Premium (ARS Billion), 2011–2020
Figure 9: Argentine Non-Life Insurance – Penetration (%), 2011–2020
Figure 10: Argentine Non-Life Insurance – Premium per Capita (ARS), 2011–2020
Figure 11: Argentine Non-Life Insurance – Number of Policies Sold (Million), 2011–2020
Figure 12: Argentine Non-Life Insurance – Paid Claims (ARS Billion), 2011–2020
Figure 13: Argentine Non-Life Insurance – Profitability Ratio (%), 2011–2020
Figure 14: Argentine Non-Life Insurance – Total Assets (ARS Billion), 2011–2020
Figure 15: Argentine Non-Life Insurance – Total Investment Income (ARS Billion), 2011–2020
Figure 16: Argentine Non-Life Insurance – Investment Portfolio (ARS Billion), 2011–2020
Figure 17: Argentine Non-Life Insurance – Investment Portfolio Dynamics by Category, 2011–2020
Figure 18: Argentine Non-Life Insurance – Direct Written Premium by Category (ARS Billion), 2011–2020
Figure 19: Argentine Non-Life Insurance – Direct Written Premium Dynamics by Category, 2011–2020
Figure 20: Argentine Property Insurance – Construction Value Output by Category (ARS Billion), 2011–2016
Figure 21: Argentine Property Insurance – Direct Written Premium by Sub-Category (ARS Billion), 2011–2020
Figure 22: Argentine Property Insurance – Direct Written Premium Dynamics by Sub-Category, 2011–2020
Figure 23: Argentine Property Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2020
Figure 24: Argentine Property Insurance – Paid Claims (ARS Billion), 2011–2020
Figure 25: Argentine Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (ARS Billion and %), 2011–2020
Figure 26: Total Number of Road Accident Deaths in Argentina (Thousand), 2011–2015
Figure 27: Argentine Motor Insurance – Direct Written Premium (ARS Billion), 2011–2020
Figure 28: Argentine Motor Insurance – Number of Policies Sold (Million), 2011–2020
Figure 29: Argentine Motor Insurance – Paid Claims (ARS Billion), 2011–2020
Figure 30: Argentine Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (ARS Billion and %), 2011–2020
Figure 31: Argentine Liability Insurance – Direct Written Premium (ARS Billion), 2011–2020
Figure 32: Argentine Liability Insurance – Number of Policies Sold (Thousand), 2011–2020
Figure 33: Argentine Liability Insurance – Paid Claims (ARS Billion), 2011–2020
Figure 34: Argentine Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (ARS Billion and %), 2011–2020
Figure 35: Argentine Marine, Aviation and Transit Insurance – Direct Written Premium (ARS Billion), 2011–2020
Figure 36: Argentine Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2020
Figure 37: Argentine Marine, Aviation and Transit Insurance – Paid Claims (ARS Billion), 2011–2020
Figure 38: Argentine Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (ARS Billion and %), 2011–2020
Figure 39: Argentine Non-Life Insurance – Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 40: Argentina – Frequency of Hazards by Type, 1990–2014
Figure 41: Argentina – Mortality by Hazards Type, 1990–2014
Figure 42: Argentina – Economic Loss by Hazards Type, 1990–2014
Figure 43: Argentine Non-Life Insurance – Segment Shares of Leading Insurers (%), 2015
Figure 44: Argentina – Insurance Supervision and Control at Various Levels
Figure 45: Argentina – Insurance Regulatory Frameworks for Company Registration and Operation

COMPANIES MENTIONED

Federacion Patronal Seguros SA
La Caja de Ahorro y Seguro SA
Prevencion Aseguradora De Riesgos Del Trabajo SA
Galeno ART SA
Sancor Seguros
Provincia ART
Allianz Argentina Companía de Seguros SA
San Cristobal S.M.S.G.
Nación Seguros SA
Asociart ART
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