New market study, "Argentina Insurance Report Q4 2014", has been published

BMI's Argentina insurance report examines a range of key market indicators, including the potential for growth in both the life and non-life segments. Limited by a fragile domestic economy, we expect to see very little growth in life products, with high inflation limiting the provision of long-term savings products in particular. Prospects for growth are slightly more positive in the non-life segment, driven primarily by several key compulsory insurance lines. Any growth is dependent upon the renewed confidence of both market operators and customers in the Argentine economy.

The non-life segment is dominated by motor vehicle insurance (which is compulsory in Argentina and subject to prescribed minimum cover limits), a trend which we expect to continue throughout the five-year forecast period. While auto sales are declining (falling by some 33.8% in the first six months of 2014), the major insurers have pricing power and are able to pass on the impact of high rates of inflation to consumers by generally offering cover on a three, four or six month basis. This allows for regular rates increases and the maintenance of profitability despite the difficult domestic trading conditions.

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- http://www.fastmr.com/prod/878934_argentina_insurance_report_q4_2014.aspx?afid=301

Worker's compensation insurance (Aseguradoras de Riesgos de Trabajo, ART), providing benefits in the event of death or disability of an employee, is also compulsory in Argentina, and accounts for a large proportion of the non-life segment. Some areas of agriculture insurance, such as crop insurance for farmers who access seasonal crop loans from banks, are also compulsory lines, meaning that there is at least some stability and indeed prospect for growth in the non-life segment.

Life products are far outweighed by non-life products in Argentina, with the market undermined by very high inflation rates and little confidence in long term savings products. This is not to say that there are no prospects for growth. Companies increasingly offer group life insurance products as an...

The Argentina Insurance Report has been researched at source and features Business Monitor International (BMI)'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.

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