Browse the complete Report on: Argentina Insurance Report Q4 2010
Browse All Business Monitor International Market Research Reports
Writing in July 2010, we have been able to include the final figures for the 12 months to June 2009 (the financial year for the Argentine insurance sector). We have also based our forecasts for 2010 on the actual figures for the 10 months to the end of April 2010 that have been published by the regulator, Superintendencia de Seguros de la Nación (SSN). According to the regulator, total insurance premiums in the year up to June 2009 amounted to ARS27,611mn. This included non-life premiums of ARS21,974mn. Life and retirement savings premiums combined amounted to ARS5,637mn. By June 2014, we expect that the corresponding figures will be ARS57,297mn, ARS46,570mn and ARS10,727mn. Underpinning our forecasts is a drop in non-life penetration from 1.63% in the June 2009 year to 1.38% in the June 2014 year. We expect that life density will rise from US$38 per capita to US$55.
BMI’s proprietary Insurance Business Environment Rating for Argentina (IBER) is 51.4 out of 100. In absolute and local currency terms, Argentina’s non-life segment has almost trebled in size since the end of 2005. Meanwhile, the life segment has grown by less than one-third. Given Argentina’s history of financial instability and the hugely controversial nationalisation of the private pension funds in late 2008 it is perhaps not surprising that the perennially under-developed life segment has lagged behind. Nevertheless, life premiums grew by 25% in 2007 and a very respectable 15% in 2008, in peso terms.
However, growth of life insurance stopped in 2009. In January 2010 the latest figures from the SSN indicated that gross written premiums in the life segment over the 12 months to the end of November 2009 were ARS5,445mn. In terms of gross written premiums, it appears that the life segment shrank by around 15% in 2008 in local currency terms and by more in US dollar terms. Meanwhile, the non-life segment continues to grow apace. The SSN’s figures indicated that non-life premiums in the 12 months to the end of November 2009 were ARS23,965mn. In other words, it appears that non-life premiums in 2009 were about 30% higher than they had been in 2008. The SSN’s latest figures for market shares (in relation to the year to June 30 2009) highlight three aspects of Argentina’s insurance sector. First, the overall market remains extraordinarily fragmented. La Caja (the local subsidiary of Generali) is the largest player in terms of total premiums, with an overall share of about 8.5%. Three other groups – Sancor, MAPFRE and Federación Patronal – each have market shares of between 6% and 8%, while HSBC La Buenos Aires, La Segunda, La Meridional, Provincia Seguros, Zurich and San Cristóbal each have market shares of between 3% and 5%.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
Original Source : – Argentina Insurance Report Q4 2010
Buy Now : Market Research Report
Browse All Business Monitor International Market Research Reports
Writing in July 2010, we have been able to include the final figures for the 12 months to June 2009 (the financial year for the Argentine insurance sector). We have also based our forecasts for 2010 on the actual figures for the 10 months to the end of April 2010 that have been published by the regulator, Superintendencia de Seguros de la Nación (SSN). According to the regulator, total insurance premiums in the year up to June 2009 amounted to ARS27,611mn. This included non-life premiums of ARS21,974mn. Life and retirement savings premiums combined amounted to ARS5,637mn. By June 2014, we expect that the corresponding figures will be ARS57,297mn, ARS46,570mn and ARS10,727mn. Underpinning our forecasts is a drop in non-life penetration from 1.63% in the June 2009 year to 1.38% in the June 2014 year. We expect that life density will rise from US$38 per capita to US$55.
BMI’s proprietary Insurance Business Environment Rating for Argentina (IBER) is 51.4 out of 100. In absolute and local currency terms, Argentina’s non-life segment has almost trebled in size since the end of 2005. Meanwhile, the life segment has grown by less than one-third. Given Argentina’s history of financial instability and the hugely controversial nationalisation of the private pension funds in late 2008 it is perhaps not surprising that the perennially under-developed life segment has lagged behind. Nevertheless, life premiums grew by 25% in 2007 and a very respectable 15% in 2008, in peso terms.
However, growth of life insurance stopped in 2009. In January 2010 the latest figures from the SSN indicated that gross written premiums in the life segment over the 12 months to the end of November 2009 were ARS5,445mn. In terms of gross written premiums, it appears that the life segment shrank by around 15% in 2008 in local currency terms and by more in US dollar terms. Meanwhile, the non-life segment continues to grow apace. The SSN’s figures indicated that non-life premiums in the 12 months to the end of November 2009 were ARS23,965mn. In other words, it appears that non-life premiums in 2009 were about 30% higher than they had been in 2008. The SSN’s latest figures for market shares (in relation to the year to June 30 2009) highlight three aspects of Argentina’s insurance sector. First, the overall market remains extraordinarily fragmented. La Caja (the local subsidiary of Generali) is the largest player in terms of total premiums, with an overall share of about 8.5%. Three other groups – Sancor, MAPFRE and Federación Patronal – each have market shares of between 6% and 8%, while HSBC La Buenos Aires, La Segunda, La Meridional, Provincia Seguros, Zurich and San Cristóbal each have market shares of between 3% and 5%.
About Us
ReportsandReports comprises an online library of 10,000 reports, in-depth market research studies of over 5000 micro markets, and 25 industry specific websites. Our client list boasts almost all well-known publishers of such reports across the globe. We as a third-party reseller of market research reports employ a number of marketing tools, such as press releases, email-marketing and effective search-engine optimization techniques to drive revenues for our clients. We also provide 24/7 online and offline support service to our customers.
Contact:
Ms. Sunita
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: +1-888-989-8004
http://reportsandreports.blogspot.com/
http://reportsandreports.proarticles.co.uk/
http://reportsnreports.wordpress.com/
Original Source : – Argentina Insurance Report Q4 2010
Buy Now : Market Research Report
