Personal Accident and Health Insurance in Argentina, Key Trends and Opportunities to 2019

Date: September 22, 2015
Pages: 119
Price:
US$ 1,450.00
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Publisher: Timetric
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: P37E8205A5CEN
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Personal Accident and Health Insurance in Argentina, Key Trends and Opportunities to 2019
Synopsis

Timetric’s 'Personal Accident and Health Insurance in the Argentina, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Argentine personal accident and health insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, and gives a comprehensive overview of Argentina's economy and demographics.

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

Summary

Timetric’s 'Personal Accident and Health Insurance in the Argentina, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Argentine personal accident and health insurance segment, including:
  • The Argentine personal accident and health insurance segment’s growth prospects by insurance category
  • Key trends, drivers and challenges for the personal accident and health insurance segment
  • A comprehensive overview of Argentina's economy and demographics
  • Details of regulatory policy applicable to the Argentine insurance industry
Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Argentina:
  • It provides historical values for the Argentine personal accident and health insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key categories in the Argentine personal accident and health insurance segment, and market forecasts to 2019.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Argentine personal accident and health insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Argentine personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health 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
  • Personal accident and health insurance was the smallest segment in the Argentine insurance industry in 2014, with 2.8% of the industry’s gross written premium.
  • The segment recorded the highest growth among the three segments, at a review-period CAGR of 37.5%.
  • The personal accident category accounted for the largest share of the personal accident and health gross written premium in 2014, with 89.8%.
  • Increasing road accidents to support growth.
  • Insurers target different age groups with new products.
  • High unemployment rate reducing demand for insurance.
  • The segment’s penetration stood at 0.07% in 2014, providing opportunities for both multinational and domestic insurers.
1 KEY FACTS AND HIGHLIGHTS

2 EXECUTIVE SUMMARY

3 INTRODUCTION

3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 ECONOMY AND DEMOGRAPHICS

5 PERSONAL ACCIDENT AND HEALTH INSURANCE SEGMENT OUTLOOK

5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Personal Accident and Health Insurance Growth Prospects by Category
  5.4.1 Personal accident insurance
  5.4.2 Travel insurance
  5.4.3 Health insurance

6 ANALYSIS BY DISTRIBUTION CHANNEL

7 GOVERNANCE, RISK AND COMPLIANCE

7.1 Legislation Overview and Historical Evolution
7.2 Latest Changes in Regulations
7.3 Legislation and Market Practice by Type of Insurance
  7.3.1 Life insurance
  7.3.2 Property insurance
  7.3.3 Motor insurance
  7.3.4 Liability insurance
  7.3.5 Marine, aviation and transit insurance
  7.3.6 Personal accident and health insurance
7.4 Compulsory Insurance
  7.4.1 Motor third-party liability insurance
  7.4.2 Social security system
  7.4.3 Civil liability insurance for passenger transport vehicles
7.5 Supervision and Control
  7.5.1 International Association of Insurance Supervisors
  7.5.2 Association of Insurance Supervisors Latin America
  7.5.3 Superintendence of Insurance (SSN)
  7.5.4 Asociacion de Administradores de Riesgos de la Republica Argentina (ADARA)
  7.5.5 Asociación Argentina de Compañías de Seguros (AACS)
7.6 Non-Admitted Insurance Regulations
  7.6.1 Overview
  7.6.2 Intermediaries
  7.6.3 Market practices
  7.6.4 Fines and penalties
7.7 Company Registration and Operations
  7.7.1 Types of insurance organization
  7.7.2 Establishing a local company
  7.7.3 Foreign ownership
  7.7.4 Types of license
  7.7.5 Capital requirements
  7.7.6 Solvency margins
  7.7.7 Reserve requirements
  7.7.8 Investment regulations
  7.7.9 Statutory return requirements
  7.7.10 Fee structure
7.8 Taxation
  7.8.1 Insurance premium or policy taxation
  7.8.2 Withholding taxes on premium paid overseas
  7.8.3 Corporate tax
  7.8.4 VAT
  7.8.5 Captives
7.9 Legal System
  7.9.1 Introduction
  7.9.2 Access to court
  7.9.3 Alternative dispute resolution (ADR)

8 APPENDIX

8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric’s Services
8.5 Disclaimer

LIST OF TABLES

Table 1: Argentine Personal Accident and Health Insurance – Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: Argentine Government Credit Ratings
Table 4: Argentine Personal Accident and Health Insurance – Gross Written Premium by Category (ARS Million), 2010–2014
Table 5: Argentine Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Million), 2010–2014
Table 6: Argentine Personal Accident and Health Insurance – Gross Written Premium by Category (ARS Million), 2014–2019
Table 7: Argentine Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Million), 2014–2019
Table 8: Argentine Personal Accident and Health Insurance – Direct Written Premium by Category (ARS Million), 2010–2014
Table 9: Argentine Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2010–2014
Table 10: Argentine Personal Accident and Health Insurance – Direct Written Premium by Category (ARS Million), 2014–2019
Table 11: Argentine Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2014–2019
Table 12: Argentine Personal Accident and Health Insurance – Net Earned Premium (ARS Million), 2010–2014
Table 13: Argentine Personal Accident and Health Insurance – Net Earned Premium (ARS Million), 2014–2019
Table 14: Argentine Personal Accident and Health Insurance – Paid Claims by Category (ARS Million), 2010–2014
Table 15: Argentine Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2010–2014
Table 16: Argentine Personal Accident and Health Insurance – Paid Claims by Category (ARS Million), 2014–2019
Table 17: Argentine Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2014–2019
Table 18: Argentine Personal Accident and Health Insurance – Incurred Loss by Category (ARS Million), 2010–2014
Table 19: Argentine Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2010–2014
Table 20: Argentine Personal Accident and Health Insurance – Incurred Loss by Category (ARS Million), 2014–2019
Table 21: Argentine Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2014–2019
Table 22: Argentine Personal Accident and Health Insurance – Net Written Premium by Category (ARS Million), 2010–2014
Table 23: Argentine Personal Accident and Health Insurance – Net Written Premium by Category (US$ Million), 2010–2014
Table 24: Argentine Personal Accident and Health Insurance – Net Written Premium by Category (ARS Million), 2014–2019
Table 25: Argentine Personal Accident and Health Insurance – Net Written Premium by Category (US$ Million), 2014–2019
Table 26: Argentine Personal Accident and Health Insurance – Loss Ratio (%), 2010–2014
Table 27: Argentine Personal Accident and Health Insurance – Loss Ratio (%), 2014–2019
Table 28: Argentine Personal Accident and Health Insurance – Commission and Expenses (ARS Million), 2010–2014
Table 29: Argentine Personal Accident and Health Insurance – Commission and Expenses (ARS Million), 2014–2019
Table 30: Argentine Personal Accident and Health Insurance – Combined Ratio (%), 2010–2014
Table 31: Argentine Personal Accident and Health Insurance – Combined Ratio (%), 2014–2019
Table 32: Argentine Personal Accident and Health Insurance – Number of Policies Per Capita, 2010–2014
Table 33: Argentine Personal Accident and Health Insurance – Number of Policies Per Capita, 2014–2019
Table 34: Argentine Personal Accident and Health Insurance – Total Assets (ARS Million), 2010–2014
Table 35: Argentine Personal Accident and Health Insurance – Total Assets (ARS Million), 2014–2019
Table 36: Argentine Personal Accident and Health Insurance – Total Investment Income (ARS Million), 2010–2014
Table 37: Argentine Personal Accident and Health Insurance – Total Investment Income (ARS Million), 2014–2019
Table 38: Argentine Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2010–2014
Table 39: Argentine Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2014–2019
Table 40: Argentine Personal Accident Insurance – Number of Policies Sold (Thousand), 2010–2014
Table 41: Argentine Personal Accident Insurance – Number of Policies Sold (Thousand), 2014–2019
Table 42: Argentine Personal Accident Insurance – Direct Written Premium (ARS Million), 2010–2014
Table 43: Argentine Personal Accident Insurance – Direct Written Premium (ARS Million), 2014–2019
Table 44: Argentine Personal Accident Insurance – Loss Ratio (%), 2010–2014
Table 45: Argentine Personal Accident Insurance – Loss Ratio (%), 2014–2019
Table 46: Argentine Travel Insurance – Number of Policies Sold (Thousand), 2010–2014
Table 47: Argentine Travel Insurance – Number of Policies Sold (Thousand), 2014–2019
Table 48: Argentine Travel Insurance – Direct Written Premium (ARS Million), 2010–2014
Table 49: Argentine Travel Insurance – Direct Written Premium (ARS Million), 2014–2019
Table 50: Argentine Travel Insurance – Loss Ratio (%), 2010–2014
Table 51: Argentine Travel Insurance – Loss Ratio (%), 2014–2019
Table 52: Argentine Health Insurance – Number of Policies Sold (Thousand), 2010–2014
Table 53: Argentine Health Insurance – Number of Policies Sold (Thousand), 2014–2019
Table 54: Argentine Health Insurance – Direct Written Premium (ARS Million), 2010–2014
Table 55: Argentine Health Insurance – Direct Written Premium (ARS Million), 2014–2019
Table 56: Argentine Health Insurance – Paid Claim (ARS Million), 2010–2014
Table 57: Argentine Health Insurance – Paid Claim (ARS Million), 2014–2019
Table 58: Argentine Health Insurance – Loss Ratio (%), 2010–2014
Table 59: Argentine Health Insurance – Loss Ratio (%), 2014–2019
Table 60: Argentine Health Insurance – Net Written Premium (ARS Million), 2010–2014
Table 61: Argentine Health Insurance – Net Written Premium (ARS Million), 2014–2019
Table 62: Argentine Personal Accident and Health Insurance – Sales Force, 2010–2014
Table 63: Argentine Personal Accident and Health Insurance – Sales Force, 2014–2019
Table 64: Argentine Personal Accident and Health Insurance – Number of Banking Entities, 2010–2014
Table 65: Argentine Personal Accident and Health Insurance – Number of Banking Entities, 2014–2019
Table 66: Argentine Personal Accident and Health Insurance – Number of Insurance Agents, 2010–2014
Table 67: Argentine Personal Accident and Health Insurance – Number of Insurance Agents, 2014–2019
Table 68: Argentine Personal Accident and Health Insurance – Number of Insurance Brokers, 2010–2014
Table 69: Argentine Personal Accident and Health Insurance – Number of Insurance Brokers, 2014–2019
Table 70: Argentina – Insurance Regulatory Framework Key Features
Table 71: Argentina – Life Insurance Regulatory Framework
Table 72: Argentina – Property Insurance Regulatory Framework
Table 73: Argentina – Motor Insurance Regulatory Framework
Table 74: Argentina – Liability Insurance Regulatory Framework
Table 75: Argentina – Corporate Taxes for the Financial Year 2015

LIST OF FIGURES

Figure 1: Argentine Real GDP, 2010–2019
Figure 2: Argentine ARS/US$ Exchange Rate, 2010–2019
Figure 3: Argentine Consumer Price Inflation, 2010–2019
Figure 4: Argentine Current Account Balance, 2010–2014
Figure 5: Argentine Unemployment Rate, 2010–2019
Figure 6: Argentine Population by Age Group, 1990–2025
Figure 7: Argentine Insurance Industry – Population Distribution by Gender and Age Group, 2010 and 2014
Figure 8: Argentine Unemployment Rate – Regional Comparison, 2014
Figure 9: Argentine Personal Accident and Health Insurance – Gross Written Premium by Category (ARS Million), 2010–2019
Figure 10: Argentine Personal Accident and Health Insurance – Gross Written Premium by Category (% Share), 2014 and 2019
Figure 11: Argentine Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2010–2019
Figure 12: Argentine Personal Accident and Health Insurance – Direct Written Premium by Category (ARS Million), 2010–2019
Figure 13: Argentine Personal Accident and Health Insurance – Direct Written Premium by Category (% Share), 2014 and 2019
Figure 14: Argentine Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2010–2019
Figure 15: Argentine Personal Accident and Health Insurance – Net Earned Premium (ARS Million), 2010–2014
Figure 16: Argentine Personal Accident and Health Insurance – Net Earned Premium (ARS Million), 2014–2019
Figure 17: Argentine Personal Accident and Health Insurance – Paid Claims by Category (ARS Million), 2010–2019
Figure 18: Argentine Personal Accident and Health Insurance – Incurred Loss by Category (ARS Million), 2010–2019
Figure 19: Argentine Personal Accident and Health Insurance – Net Written Premium by Category (ARS Million), 2010–2019
Figure 20: Argentine Personal Accident and Health Insurance – Loss Ratio (%), 2010–2014
Figure 21: Argentine Personal Accident and Health Insurance – Loss Ratio (%), 2014–2019
Figure 22: Argentine Personal Accident and Health Insurance – Commission and Expenses (ARS Million), 2010–2014
Figure 23: Argentine Personal Accident and Health Insurance – Commission and Expenses (ARS Million), 2014–2019
Figure 24: Argentine Personal Accident and Health Insurance – Combined Ratio (%), 2010–2014
Figure 25: Argentine Personal Accident and Health Insurance – Combined Ratio (%), 2014–2019
Figure 26: Argentine Personal Accident and Health Insurance – Number of Policies Per Capita, 2010–2014
Figure 27: Argentine Personal Accident and Health Insurance – Number of Policies Per Capita, 2014–2019
Figure 28: Argentine Personal Accident and Health Insurance – Total Assets (ARS Million), 2010–2014
Figure 29: Argentine Personal Accident and Health Insurance – Total Assets (ARS Million), 2014–2019
Figure 30: Argentine Personal Accident and Health Insurance – Total Investment Income (ARS Million), 2010–2014
Figure 31: Argentine Personal Accident and Health Insurance – Total Investment Income (ARS Million), 2014–2019
Figure 32: Argentine Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2010–2014
Figure 33: Argentine Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2014–2019
Figure 34: Argentine Personal Accident and Health Insurance – Investment Portfolio (ARS Million), 2010–2014
Figure 35: Argentine Personal Accident and Health Insurance – Investment Portfolio (% Share), 2010 and 2014
Figure 36: Argentine Personal Accident and Health Insurance – Penetration (%), 2010–2014
Figure 37: Argentine Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2010–2014
Figure 38: Argentine Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2014–2019
Figure 39: Argentine Personal Accident and Health Insurance – Density (Direct Premium per Capita), 2010–2014
Figure 40: Argentine Personal Accident Insurance – Number of Policies Sold (Thousand), 2010–2014
Figure 41: Argentine Personal Accident Insurance – Number of Policies Sold (Thousand), 2014–2019
Figure 42: Argentine Personal Accident Insurance – Direct Written Premium (ARS Million), 2010–2014
Figure 43: Argentine Personal Accident Insurance – Direct Written Premium (ARS Million), 2014–2019
Figure 44: Argentine Personal Accident Insurance – Loss Ratio (%), 2010–2014
Figure 45: Argentine Personal Accident Insurance – Loss Ratio (%), 2014–2019
Figure 46: Argentine Travel Insurance – Number of Policies Sold (Thousand), 2010–2014
Figure 47: Argentine Travel Insurance – Number of Policies Sold (Thousand), 2014–2019
Figure 48: Argentine Travel Insurance – Direct Written Premium (ARS Million), 2010–2014
Figure 49: Argentine Travel Insurance – Direct Written Premium (ARS Million), 2014–2019
Figure 50: Argentine Travel Insurance – Loss Ratio (%), 2010–2014
Figure 51: Argentine Travel Insurance – Loss Ratio (%), 2014–2019
Figure 52: Argentine Health Insurance – Number of Policies Sold (Thousand), 2010–2014
Figure 53: Argentine Health Insurance – Number of Policies Sold (Thousand), 2014–2019
Figure 54: Argentine Health Insurance – Direct Written Premium (ARS Million), 2010–2014
Figure 55: Argentine Health Insurance – Direct Written Premium (ARS Million), 2014–2019
Figure 56: Argentine Health Insurance – Paid Claim (ARS Million), 2010–2014
Figure 57: Argentine Health Insurance – Paid Claim (ARS Million), 2014–2019
Figure 58: Argentine Health Insurance – Loss Ratio (%), 2010–2014
Figure 59: Argentine Health Insurance – Loss Ratio (%), 2014–2019
Figure 60: Argentine Health Insurance – Net Written Premium (ARS Million), 2010–2014
Figure 61: Argentine Health Insurance – Net Written Premium (ARS Million), 2014–2019
Figure 62: Argentine Personal Accident and Health Insurance – Sales Force, 2010–2014
Figure 63: Argentine Personal Accident and Health Insurance – Sales Force, 2014–2019
Figure 64: Argentine Personal Accident and Health Insurance – Number of Banking Entities, 2010–2014
Figure 65: Argentine Personal Accident and Health Insurance – Number of Banking Entities, 2014–2019
Figure 66: Argentine Personal Accident and Health Insurance – Number of Insurance Agents, 2010–2014
Figure 67: Argentine Personal Accident and Health Insurance – Number of Insurance Agents, 2014–2019
Figure 68: Argentine Personal Accident and Health Insurance – Number of Insurance Brokers, 2010–2014
Figure 69: Argentine Personal Accident and Health Insurance – Number of Insurance Brokers, 2014–2019
Figure 70: Argentina – Insurance Supervision and Control at Various Levels
Figure 71: Argentina – Insurance Regulatory Frameworks for Company Registration and Operation
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