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Published: Oct, 2016 | Pages:
119 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis Timetric's 'Personal Accident and Health 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, 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, 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 'Personal Accident and Health Insurance in Argentina Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Argentine personal accident and health insurance segment, including: • An overview of the Argentine personal accident and health insurance segment • The Argentine personal accident and health insurance segment's growth prospects by category • A comprehensive overview of the Argentine economy and demographics • A comparison of the Argentine personal accident and health insurance segment with its regional counterparts • The various distribution channels in the Argentine personal accident and health insurance segment • Details of the competitive landscape in the personal accident and health insurance segment in Argentina • 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 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 personal accident and health insurance segment, and market forecasts to 2020. • It provides a comparison of the Argentine personal accident and health insurance segment with its regional counterparts • It provides an overview of the various distribution channels for personal accident and health insurance products in Argentina. • It profiles the top personal accident and health 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 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 2015, accounting for 2.5% of the industry's direct written premium. • In 2015, insurance penetration of the personal accident and health segment stood at 0.07%. • Health insurance is provided by non-life insurers in Argentina, although life companies can sell health insurance as a supplement to main life policies. • A well developed social security system providing insurance to government employees and a demand for private insurance products amongst the higher income population will support the growth of the segment over the forecast period.
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 Profitability 4.2.5 Assets and investments 5 Outlook by Category 5.1 Personal Accident Insurance 5.1.1 Premium 5.1.2 Policies 5.1.3 Claims 5.1.4 Profitability 5.2 Health Insurance 5.2.1 Premium 5.2.2 Policies 5.2.3 Claims 5.2.4 Profitability 5.3 Travel Insurance 5.3.1 Premium 5.3.2 Policies 5.3.3 Claims 5.3.4 Profitability 6 Distribution Channel Outlook 6.1 Analysis by Distribution Channel 7 Competitive Landscape 7.1 Company Profiles 7.1.1 Federacion Patronal Seguros SA - company overview 7.1.2 Caja de Seguros SA - company overview 7.1.3 BHN Vida SA - company overview 7.1.4 HSBC Seguros de Vida Argentina SA - company overview 7.1.5 Allianz Argentina Compania de Seguros SA - 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 and E-Commerce 9.5 Insurance Brokers and Agencies 9.6 Bancassurance and Other Distribution Channels 9.7 Personal Accident Insurance 9.8 Health Insurance 9.9 Health Insurance by Product 9.1 Travel Insurance 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: Argentina Personal Accident and Health Insurance - Key Facts, 2015 Table 2: Argentine Personal Accident and Health Insurance -Leading Insurers, 2015 Table 3: Argentina - Government Credit Ratings Table 4: Argentine Personal Accident and Health Insurance - Gross Written Premium (ARS Billion and US$ Billion), 2011-2015 Table 5: Argentine Personal Accident and Health Insurance - Penetration (%), 2011-2015 Table 6: Argentine Personal Accident and Health Insurance - Gross Written Premium (ARS Billion and US$ Billion), 2015-2020 Table 7: Argentine Personal Accident and Health Insurance - Penetration (%), 2015-2020 Table 8: Argentine Personal Accident and Health Insurance - Premium per Capita (ARS and US$), 2011-2015 Table 9: Argentine Personal Accident and Health Insurance - Premium per Capita (ARS and US$), 2015-2020 Table 10: Argentine Personal Accident and Health Insurance - Number of Policies Sold (Million), 2011-2015 Table 11: Argentine Personal Accident and Health Insurance - Number of Policies Sold (Million), 2015-2020 Table 12: Argentine Personal Accident and Health Insurance - Paid Claims (ARS Million and US$ Million), 2011-2015 Table 13: Argentine Personal Accident and Health Insurance - Paid Claims (ARS Million and US$ Million), 2015-2020 Table 14: Argentine Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015 Table 15: Argentine Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020 Table 16: Argentine Personal Accident and Health Insurance - Total Assets (ARS Billion and US$ Billion), 2011-2015 Table 17: Argentine Personal Accident and Health Insurance - Total Assets (ARS Billion and US$ Billion), 2015-2020 Table 18: Argentine Personal Accident and Health Insurance - Total Investment Income (ARS Million and US$ Million), 2011-2015 Table 19: Argentine Personal Accident and Health Insurance - Total Investment Income (ARS Million and US$ Million), 2015-2020 Table 20: Argentine Personal Accident and Health Insurance - Investment Portfolio (ARS Billion), 2011-2015 Table 21: Argentine Personal Accident and Health Insurance - Investment Portfolio (ARS Billion), 2015-2020 Table 22: Argentine Personal Accident and Health Insurance - Direct Written Premium by Category (ARS Billion),2011-2015 Table 23: Argentine Personal Accident and Health Insurance - Direct Written Premium by Category (ARS Billion), 2015-2020 Table 24: Argentine Personal Accident Insurance - Direct Written Premium (ARS Billion and US$ Million), 2011-2015 Table 25: Argentine Personal Accident Insurance - Direct Written Premium (ARS Billion and US$ Million), 2015-2020 Table 26: Argentine Personal Accident Insurance - Number of Policies Sold (Million), 2011-2015 Table 27: Argentine Personal Accident Insurance - Number of Policies Sold (Million), 2015-2020 Table 28: Argentine Personal Accident Insurance - Paid Claims (ARS Million and US$ Million), 2011-2015 Table 29: Argentine Personal Accident Insurance - Paid Claims (ARS Million and US$ Billion), 2015-2020 Table 30: Argentine Personal Accident Insurance - Loss Ratio (%), 2011-2015 Table 31: Argentine Personal Accident Insurance - Loss Ratio (%), 2015-2020 Table 32: Argentine Health Insurance - Direct Written Premium by Sub-Category (ARS Million), 2011-2015 Table 33: Argentine Health Insurance - Direct Written Premium by Sub-Category (ARS Million), 2015-2020 Table 34: Argentine Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015 Table 35: Argentine Health Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020 Table 36: Argentine Health Insurance - Paid Claims (ARS Million and US$ Million), 2011-2015 Table 37: Argentine Health Insurance - Paid Claims (ARS Million and US$ Million), 2015-2020 Table 38: Argentine Health Insurance - Loss Ratio (%), 2011-2015 Table 39: Argentine Health Insurance - Loss Ratio (%), 2015-2020 Table 40: Argentine Travel Insurance - Direct Written Premium (ARS Million), 2011-2015 Table 41: Argentine Travel Insurance - Direct Written Premium (ARS Million), 2015-2020 Table 42: Argentine Travel Insurance - Number of Policies Sold (Thousand), 2011-2015 Table 43: Argentine Travel Insurance - Number of Policies Sold (Thousand), 2015-2020 Table 44: Argentine Travel Insurance - Paid Claims (ARS Billion and US$ Billion), 2011-2015 Table 45: Argentine Travel Insurance - Paid Claims (ARS Billion and US$ Billion), 2015-2020 Table 46: Argentine Travel Insurance - Loss Ratio (%), 2011-2015 Table 47: Argentine Travel Insurance - Loss Ratio (%), 2015-2020 Table 48: Argentine Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (ARS Billion), 2011-2015 Table 49: Argentine Personal Accident and Health Insurance - Direct Written Premium by Distribution Channel (ARS Billion), 2015-2020 Table 50: Argentine Personal Accident and Health Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020 Table 51: Argentine Personal Accident and Health Insurance - Leading Insurers, 2015 Table 52: Federacion Patronal Seguros SA - Key Facts Table 53: Federacion Patronal Seguros SA - Key Financials (ARS Billion), 2011-2015 Table 54: Caja de Seguros SA - Key Facts Table 55: Caja de Seguros - Key Financials (ARS Billion), 2011-2015 Table 56: BHN Vida SA - Key Facts Table 57: BHN Vida SA - Key Financials (ARS Million), 2011-2015 Table 58: HSBC Seguros de Vida Argentina SA - Key Facts Table 59: HSBC Seguros de Vida Argentina - Key Financials (ARS Million), 2011-2015 Table 60: Allianz Argentina Compania de Seguros SA - Key Facts Table 61: Allianz Argentina Compania de Seguros SA - Key Financials (ARS Million), 2011-2015 Table 62: Argentina - Insurance Regulatory Framework Key Features Table 63: Argentina - Life Insurance Regulatory Framework Table 64: Argentina - Property Insurance Regulatory Framework Table 65: Argentina - Motor Insurance Regulatory Framework Table 66: Argentina - Liability Insurance Regulatory Framework Table67: Argentina - Corporate Tax Rates for the Financial Year 2016 Table 68: Argentine Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015 Table 69: Argentina Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020 Table 70: Argentina Personal Accident and Health Insurance - Claims and Expenses, 2011-2015 Table 71: Argentina Personal Accident and Health Insurance - Claims and Expenses, 2015-2020 Table 72: Argentine Personal Accident and Health Insurance - Assets and Investments, 2011-2015 Table 73: Argentine Personal Accident and Health Insurance - Assets and Investments, 2015-2020 Table 74: Argentine Personal Accident and Health Insurance - Direct Marketing and E-Commerce, 2011-2015 Table 75: Argentine Personal Accident and Health Insurance - Direct Marketing and E-Commerce, 2015-2020 Table 76: Argentine Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2011-2015 Table 77: Argentine Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2015-2020 Table 78: Argentine Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2011-2015 Table 79: Argentine Personal Accident and Health Insurance - Insurance Brokers and Agencies, 2015-2020 Table 80: Argentine Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015 Table 81: Argentine Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020 Table 82: Argentine Personal Accident and Health Insurance - Health Insurance, 2011-2015 Table 83: Argentine Personal Accident and Health Insurance - Health Insurance, 2015-2020 Table 84: Argentine Personal Accident and Health Insurance - Health by Product, 2011-2015 Table 85: Argentine Personal Accident and Health Insurance - Health by Product, 2015-2020 Table 86: Argentine Personal Accident and Health Insurance - Travel Insurance, 2011-2015 Table 87: Argentine Personal Accident and Health Insurance - Travel Insurance, 2015-2020 Table 88: Insurance Industry Definitions
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