Insurance

Maintaining robust levels of profitability through the use of financial instruments rather than the development of core competencies, Argentina’s insurance industry has remained relatively stable since 2008. The introduction of more market-friendly regulations since 2015, coupled with improvements across a number of macroeconomic indicators, is expected to have a positive impact on the insurance industry, enabling it to focus more on developing the market as well as take on a more active role in the overall economy. Regulatory reforms are expected to lead to market consolidation as the government seeks to strengthen the industry and attract international players. While penetration rates remain low, the active role of the government in the development of the sector is an encouraging sign for both local and international insurers. This chapter features interviews with Juan Pazo, Superintendent, National Superintendence of Insurance; and Alejandro Simón, CEO, Grupo Sancor Seguros.