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Published: Oct, 2016 | Pages:
116 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis Timetric's 'Life Insurance in Argentina Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Argentine life insurance segment, and a comparison of the Argentine insurance industry with its regional counterparts. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, 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, 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 'Life Insurance in Argentina Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Argentine life insurance segment, including: • An overview of the Argentine life insurance segment • The Argentine life insurance segment's growth prospects by category • A comprehensive overview of the Argentine economy and demographics • A comparison of the Argentine life insurance segment with its regional counterparts • The various distribution channels in the Argentine life insurance segment • Details of the competitive landscape in the life insurance segment in Argentina • Details of regulatory policy applicable to the Argentine insurance industry Scope This report provides a comprehensive analysis of the life insurance segment in Argentina: • It provides historical values for the Argentine 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 life insurance segment, and market forecasts to 2020. • It provides a comparison of the Argentine life insurance segment with its regional counterparts • It analyzes the various distribution channels for life insurance products in Argentina. • It profiles the top 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 life insurance segment, and each category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in the Argentine life insurance segment. • Assess the competitive dynamics in the 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 • Life insurance was the second-largest segment in the Argentine insurance industry in 2015, accounting for 16.1% of the industry's gross written premium. •In January 2015, the SSN implemented Resolution 38,477 to help prevent fraud in the insurance industry. • In 2015, life segment's insurance penetration stood at 0.45%. • The life segment was highly concentrated, with the 10 leading insurers accounting for 77.9% of the segment's gross written premium in 2015. • Independent agents and brokers are the two most important distribution channels for the life segment in Argentina.
Table of Contents 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 Assets and investments 5 Outlook by Sub-Segment 5.1 Individual Life Insurance 5.1.1 Premium 5.1.2 Policies sold 5.1.3 Penetration 5.2 Group Life Insurance 5.2.1 Premium 5.2.2 Policies sold 5.2.3 Penetration 6 Distribution Channel Outlook 7 Competitive Landscape 7.1 Company Profiles 7.1.1 La Estrella SA Compania de Seguros de Retiro - company overview 7.1.2 BHN Vida SA - company overview 7.1.3 HSBC Seguros de Vida Argentina SA - company overview 7.1.4 Prudential Seguros SA - company overview 7.1.5 Zurich International Life Ltd Sucursal Argentina - company overview 8 Governance, Risk and Compliance 8.1 Legislation Overview and Historical Evolution 8.2 Latest Changes in Regulation 8.3 Legislation and Market Practice by Type of Insurance 8.3.1 Life insurance 8.3.2 Property insurance 8.3.3 Motor insurance 8.3.4 Liability insurance 8.3.5 Marine, aviation and transit insurance 8.3.6 Personal accident and health insurance 8.4 Compulsory Insurance 8.4.1 Motor third-party liability insurance 8.4.2 Civil liability insurance for passenger transport vehicles 8.4.3 Clinical trials liability insurance 8.4.4 Social security scheme 8.4.5 Professional indemnity insurance for reinsurance brokers 8.4.6 Third party liability insurance for lift operators 8.4.7 Bond insurance for travel agents 8.4.8 Professional indemnity insurance for directors and managers of public and private limited companies 8.4.9 Insurance for drones 8.4.10 Mandatory group life insurance 8.4.11 Liability insurance for ships with respect to oil pollution 8.5 Supervision and Control 8.5.1 International Association of Insurance Supervisors 8.5.2 Association of Insurance Supervisors Latin America 8.5.3 Superintendence of Insurance 8.5.4 Asociacion de Administradores de Riesgos de la Republica Argentina 8.5.5 Asociacion Argentina de Companias de Seguros 8.5.6 Aseguradores del Interior de la Republica Argentina 8.5.7 Asociacion de Aseguradores de Vida y Retiro de la Republica Argentina 8.6 Non-Admitted Insurance Regulations 8.6.1 Overview 8.6.2 Intermediaries 8.6.3 Market practices 8.6.4 Fines and penalties 8.7 Company Registration and Operations 8.7.1 Type of insurance organization 8.7.2 Establishing a local company 8.7.3 Foreign ownership 8.7.4 Types of license 8.7.5 Capital requirements 8.7.6 Solvency margins 8.7.7 Reserve requirements 8.7.8 Investment regulations 8.7.9 Statutory return requirements 8.7.10 Fee structure 8.8 Taxation 8.8.1 Insurance premium or policy taxation 8.8.2 Withholding taxes on premium paid overseas 8.8.3 Corporate tax 8.8.4 VAT 8.8.5 Captives 8.9 Legal System 8.9.1 Introduction 8.9.2 Access to court 8.9.3 Alternative dispute resolution (ADR) 9 Databook 9.1 Policies and Premium 9.2 Claims and Expenses 9.3 Assets and Investments 9.4 Direct Marketing 9.5 Insurance Brokers and Agencies 9.6 Bancassurance and Other Distribution Channels 9.7 Individual Life Insurance 9.8 Individual Life Insurance by Product 9.9 Group Life Insurance 9.1 Group Life Insurance by Product 10 Definitions and Methodology 10.1 Definitions 10.2 Methodology 11 About Timetric 11.1 Contact Timetric 11.2 About Timetric 11.3 Timetric's Services 11.4 Disclaimer
List of Tables Table 1: Argentine Life Insurance - Key Facts, 2015 Table 2: Argentine Life Insurance - Segment Shares of the Top Insurers, 2015 Table 3: Argentina - Government Credit Ratings Table 4: Argentine Life Insurance - Gross Written Premium (ARS Billion and US$ Billion), 2011-2015 Table 5: Argentine Life Insurance - Penetration (%), 2011-2015 Table 6: Argentine Life Insurance - Gross Written Premium (ARS Billion and US$ Billion), 2015-2020 Table 7: Argentine Life Insurance - Penetration (%), 2015-2020 Table 8: Argentine Life Insurance - Premium per Capita (ARS and US$), 2011-2015 Table 9: Argentine Life Insurance - Premium per Capita (ARS and US$), 2015-2020 Table 10: Argentine Life Insurance - Number of Policies Sold (Million), 2011-2015 Table 11: Argentine Life Insurance - Number of Policies Sold (Million), 2015-2020 Table 12: Argentine Life Insurance - Paid Claims (ARS Billion and US$ Billion), 2011-2015 Table 13: Argentine Life Insurance - Paid Claims (ARS Billion and US$ Billion), 2015-2020 Table 14: Argentine Life Insurance - Total Assets (ARS Billion and US$ Billion), 2011-2015 Table 15: Argentine Life Insurance - Total Assets (ARS Billion and US$ Billion), 2015-2020 Table 16: Argentine Life Insurance - Total Investment Income (ARS Billion and US$ Billion), 2011-2015 Table 17: Argentine Life Insurance - Total Investment Income (ARS Billion and US$ Billion), 2015-2020 Table 18: Argentine Life Insurance - Investment Portfolio (ARS Billion), 2011-2015 Table 19: Argentine Life Insurance - Investment Portfolio (ARS Billion), 2015-2020 Table 20: Argentine Life Insurance - Direct Written Premium by Sub-Segment (ARS Billion),2011-2015 Table 21: Argentine Life Insurance - Direct Written Premium by Category (ARS Billion), 2015-2020 Table 22: Argentine Individual Life Insurance - Direct Written Premium by Category (ARS Million), 2011-2015 Table 23: Argentine Individual Life Insurance - Direct Written Premium by Category (ARS Million), 2015-2020 Table 24: Argentine Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015 Table 25: Argentine Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020 Table 26: Argentine Group Life Insurance - Direct Written Premium by Category (ARS Billion), 2011-2015 Table 27: Argentine Group Life Insurance - Direct Written Premium by Category (ARS Billion), 2015-2020 Table 28: Argentine Group Life Insurance - Number of Policies Sold by Category (Billion), 2011-2015 Table 29: Argentine Group Life Insurance - Number of Policies Sold by Category (Billion), 2015-2020 Table 30: Argentine Life Insurance - Market Shares of Leading Insurers (%), 2015 Table 31: La Estrella SA Compania de Seguros de Retiro SA - Key Facts Table 32: La Estrella SA Compania de Seguros de Retiro SA - Key Financials (ARS Million), 2011-2015 Table 33: BHN Vida SA - Key Facts Table 34: BHN Vida SA - Key Financials (ARS Million), 2011-2015 Table 35: HSBC Seguros de Vida Argentina SA - Key Facts Table 36: HSBC Seguros de Vida Argentina SA - Key Financials (ARS Million), 2011-2015 Table 37: Prudential Seguros SA - Key Facts Table 38: Prudential Seguros SA - Key Financials (ARS Million), 2011-2015 Table 39: Zurich International Life Ltd Sucursal Argentina - Key Facts Table 40: Zurich International Life Ltd Sucursal Argentina - Key Financials (ARS Million), 2011-2015 Table 41: Argentina - Insurance Regulatory Framework Key Features Table 42: Argentina - Life Insurance Regulatory Framework Table 43: Argentina - Property Insurance Regulatory Framework Table 44: Argentina - Motor Insurance Regulatory Framework Table 45: Argentina - Liability Insurance Regulatory Framework Table46: Argentina - Corporate Tax Rates for the Financial Year 2016 Table 47: Argentine Life Insurance - Policies and Premium, 2011-2015 Table 48: Argentine Life Insurance - Policies and Premium, 2015-2020 Table 49: Argentine Life Insurance - Claims and Expenses, 2011-2015 Table 50: Argentine Life Insurance - Claims and Expenses, 2015-2020 Table 51: Argentine Life Insurance - Assets and Investments, 2011-2015 Table 52: Argentine Life Insurance - Assets and Investments, 2015-2020 Table 53: Argentine Life Insurance - Direct Marketing, 2011-2015 Table 54: Argentine Life Insurance - Direct Marketing, 2015-2020 Table 55: Argentine Life Insurance - Insurance Brokers and Agencies, 2011-2015 Table 56: Argentine Life Insurance - Insurance Brokers and Agencies, 2015-2020 Table 57: Argentine Life Insurance - Insurance Brokers and Agencies, 2011-2015 Table 58: Argentine Life Insurance - Insurance Brokers and Agencies, 2015-2020 Table 59: Argentine Life Insurance - Individual Life Insurance, 2011-2015 Table 60: Argentine Life Insurance - Individual Life Insurance, 2015-2020 Table 61: Argentine Life Insurance - Individual Life Insurance by Product, 2011-2015 Table 62: Argentine Life Insurance - Individual Life Insurance by Product, 2015-2020 Table 63: Argentine Life Insurance - Group Life Insurance, 2011-2015 Table 64: Argentine Life Insurance - Group Life Insurance, 2015-2020 Table 65: Argentine Life Insurance - Group Life Insurance by Product, 2011-2015 Table 66: Argentine Life Insurance - Group Life Insurance by Product, 2015-2020 Table 67: Insurance Industry Definitions
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