Life insurance in argentina, key trends and opportunities to 2018

243 views

Published on

The Argentinean life insurance segment accounted for 17.1%, of the insurance industry’s gross written premiums in 2013 at a CAGR of 25.3% during the review period. The growth was primarily supported by the strong performance of group life products such as group whole life and group superannuation. It was further supported by the robust growth of the individual whole life category, which accounted for 13.3% of the life insurance segment

Published in: Business
  • Be the first to comment

  • Be the first to like this

Life insurance in argentina, key trends and opportunities to 2018

  1. 1. Life Insurance in Argentina, Key Trends and Opportunities to 2018 Synopsis The report provides in-depth market analysis, information and insights into the Argentine life insurance segment, including: The Argentine life insurance segment’s growth prospects by life insurance categories Key trends and drivers for the life insurance segment The various distribution channels in the Argentine life insurance segment The detailed competitive landscape in the life insurance segment in Argentina Detailed regulatory policies of the Argentine insurance industry A description of the life reinsurance segment in Argentina Porter's Five Forces analysis of the life insurance segment A benchmarking section on the Argentine life insurance segment in comparison with other countries in the Central and Latin American region Executive summary The Argentinean life insurance segment accounted for 17.1%, of the insurance industry’s gross written premiums in 2013 at a CAGR of 25.3% during the review period. The growth was primarily supported by the strong performance of group life products such as group whole life and group superannuation. It was further supported by the robust growth of the individual whole life category, which accounted for 13.3% of the life insurance segment. Decreases in unemployment, new tax benefits, increasing life expectancy and an aging population aided the segment’s growth. GDP at constant prices grew at a CAGR of 6.0% during the review period, and the presence of such factors is expected to support the life insurance segment over the forecast period. The segment is expected to grow in terms of gross written premium at a forecast-period CAGR of 28.2%. 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 2009–2013 review period and forecast figures for the 2013–2018 forecast period. It offers a detailed analysis of the key categories in the Argentine life insurance segment, along with market forecasts until 2018. It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions. It analyses the various distribution channels for life insurance products in Argentina. Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Argentina for the life insurance business. It provides a detailed analysis of the reinsurance segment in Argentina and its growth prospects. 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 within the Argentine life insurance segment Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment Identify the growth opportunities and market dynamics within key product categories Gain insights into key regulations governing the Argentine insurance industry and its impact on companies and the market's future Key highlights The Argentinean life insurance segment accounted for 17.1%, of the insurance industry’s gross written premiums in 2013. Argentine life insurance penetration stood at 0.51% in 2013, significantly lower than that of other countries in the region such as Brazil (2.07%) and Chile (2.74%). Group life insurance was the dominant sub-segment compared to individual life insurance. A key challenge for the life segment in Argentina over the forecast period will be changes in the country’s published statistics that will define the financial stability of the country. High life expectancy was a growth driver for the Argentine life insurance segment during the review period. The life segment is moderately concentrated, with the 10 leading insurers accounting for a market share of 80.6% of the total segment’s written premiums in 2013 table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 Regional Market Dynamics 3.1 Overview 3.1.1 Market Trends 3.1.2 Market Size 4 Life Insurance Segment – Regional Benchmarking 4.1 Scale And Penetration 4.1.1 Total Gross Written Premium 4.1.2 Premium Per Capita 4.1.3 Life Insurance Penetration (as A Percentage Of Gdp) 4.2 Growth 4.2.1 Gross Written Premium 4.2.2 Gross Written Premium Per Capita 4.3 Efficiency And Risk 4.3.1 Loss Ratio 4.3.2 Combined Ratio 4.3.3 Incurred Losses Per Capita Life Insurance in Argentina, Key Trends and Opportunities to 2018
  2. 2. 4.3.4 Incurred Losses As A Percentage Of Gdp 4.4 Distribution Channels 4.4.1 Direct Marketing 4.4.2 Bancassurance 4.4.3 Agencies 5 Argentine Insurance Industry Attractiveness 5.1 Insurance Industry Size, 2009–2018 5.2 Key Industry Trends And Drivers 5.3 Challenges 5.4 Recent Market Developments 6 Life Insurance Outlook 6.1 Consumer Segmentation 6.2 Product And Marketing Strategies 6.3 Life Insurance Growth Prospects By Category 6.4 Individual Life Insurance 6.4.1 Individual Whole Life 6.4.2 Individual General Annuity 6.4.3 Individual Pension 6.4.4 Individual Other Insurance 6.5 Group Life Insurance 6.5.1 Group Whole Life 6.5.2 Group Superannuation 6.6 Life Insurance Growth Prospects By Customer Segment 6.6.1 Individual Single-premium Policies 6.6.2 Individual Non-single-premium Policies 6.6.3 Group Single-premium Policies 6.6.4 Group Non-single-premium Policies 6.7 Life Insurance Growth Prospects By Product Type 6.7.1 Total Non-linked Business 7 Analysis By Distribution Channel 7.1 Direct Marketing 7.2 Bancassurance 7.3 Agencies 7.4 E-commerce 7.5 Brokers 7.6 Other Channels 8 Porter’s Five Forces Analysis – Argentine Life Insurance 8.1 Bargaining Power Of Suppliers: Low To Medium 8.2 Bargaining Power Of Buyers: Medium 8.3 Barriers To Entry: High 8.4 Intensity Of Rivalry: Medium 8.5 Threat Of Substitutes: Low 9 Reinsurance Growth Dynamics And Challenges 9.1 Reinsurance Segment Size, 2009–2018 9.2 Reinsurance Segment Size By Premium Ceded, 2009–2018 10 Governance, Risk And Compliance 10.1 Legislation Overview And Historical Evolution 10.2 Legislation And Market Practice By Type Of Insurance 10.2.1 Life Insurance 10.2.2 Property Insurance 10.2.3 Motor Insurance 10.2.4 Marine, Aviation And Transit Insurance 10.2.5 Personal Accident And Health Insurance 10.3 Compulsory Insurance 10.3.1 Social Security Scheme 10.3.2 Motor Third-party Liability Insurance Life Insurance in Argentina, Key Trends and Opportunities to 2018
  3. 3. 10.4 Supervision And Control 10.4.1 International Association Of Insurance Supervisors 10.4.2 Association Of Insurance Supervisors Latin America 10.4.3 Superintendence Of Insurance (ssn) 10.5 Non-admitted Insurance Regulations 10.5.1 Overview 10.5.2 Intermediaries 10.5.3 Market Practices 10.5.4 Fines And Penalties 10.6 Company Registration And Operations 10.6.1 Types Of Insurance Organization 10.6.2 Establishing A Local Company 10.6.3 Foreign Ownership 10.6.4 Types Of License 10.6.5 Capital Requirements 10.6.6 Solvency Margins 10.6.7 Reserve Requirements 10.6.8 Investment Regulations 10.6.9 Statutory Return Requirements 10.6.10 Fee Structure 10.7 Taxation 10.7.1 Insurance Premium Or Policy Taxation 10.7.2 Withholding Taxes On Premium Paid Overseas 10.7.3 Corporate Tax 10.7.4 Vat 10.7.5 Captives 10.8 Legal System 10.8.1 Introduction 10.8.2 Access To Court 10.8.3 Alternative Dispute Resolution (adr) 11 Competitive Landscape And Strategic Insights 11.1 Overview 11.2 Leading Companies In The Argentine Life Insurance Segment 11.3 Comparison Of The Top Five Insurers 11.3.1 Gross Written Premium 11.3.2 Net Earned Premium 11.3.3 Gross Claims 11.3.4 Commission And Expenses 11.4 La Estrella Sa Compañía De Seguros De Retiro – Company Overview 11.4.1 La Estrella Sa Compañía De Seguros De Retiro – Key Facts 11.4.2 La Estrella Sa Compañía De Seguros De Retiro – Key Financials 11.5 Metlife Seguros De Vida Sa – Company Overview 11.5.1 Metlife Seguros De Vida Sa – Key Facts 11.5.2 Metlife Seguros De Vida Sa – Key Financials 11.6 Hsbc Seguros De Vida Argentina Sa – Company Overview 11.6.1 Hsbc Seguros De Vida Argentina Sa – Key Facts 11.6.2 Hsbc Seguros De Vida Argentina Sa – Key Financials 11.7 Mapfre Argentina Seguros De Vida Sa – Company Overview 11.7.1 Mapfre Argentina Seguros De Vida Sa – Key Facts 11.7.2 Mapfre Argentina Seguros De Vida Sa – Key Financials 11.8 Bhn Vida Sa – Company Overview 11.8.1 Bhn Vida Sa – Key Facts 11.8.2 Bhn Vida Sa – Key Financials 11.9 Prudential Seguros Sa – Company Overview 11.9.1 Prudential Seguros Sa – Key Facts 11.9.2 Prudential Seguros Sa – Key Financials 11.1 Smg Life Seguros De Vida Sa – Company Overview 11.10.1 Smg Life Seguros De Vida Sa – Key Facts 11.10.2 Smg Life Seguros De Vida Sa – Key Financials 11.11 Zurich International Life Ltd (argentina) – Company Overview 11.11.1 Zurich International Life Ltd (argentina) – Key Facts 11.11.2 Zurich International Life Ltd (argentina) – Key Financials 11.12 Origenes Seguros De Vida Sa – Company Overview 11.12.1 Origenes Seguros De Vida Sa – Key Facts 11.12.2 Origenes Seguros De Vida Sa – Key Financials 11.13 Nacion Seguros De Retiro Sa – Company Overview Life Insurance in Argentina, Key Trends and Opportunities to 2018
  4. 4. 11.13.1 Nacion Seguros De Retiro Sa – Key Facts 11.13.2 Nacion Seguros De Retiro Sa – Key Financials 12 Business Environment And Country Risk 12.1 Business Confidence 12.1.1 Market Capitalization Trend – Buenos Aires Stock Exchange, Argentina 12.2 Economic Performance 12.2.1 Gdp At Current Prices (us$) 12.2.2 Gdp Per Capita At Current Prices (us$) 12.2.3 Gdp By Key Sector 12.2.4 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 12.2.5 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices As A Percentage Of Gdp 12.2.6 Manufacturing Net Output At Current Prices (us$) 12.2.7 Manufacturing Net Output At Current Prices As A Percentage Of Gdp 12.2.8 Mining, Manufacturing And Utilities At Current Prices (us$) 12.2.9 Mining, Manufacturing And Utilities At Current Prices, As Percentage Of Gdp 12.2.10 Construction Net Output At Current Prices, (us$) 12.2.11 Construction Net Output At Current Prices As A Percentage Of Gdp 12.2.12 Inflation Rate 12.2.13 Exports As A Percentage Of Gdp 12.2.14 Imports As A Percentage Of Gdp 12.2.15 Merchandise Exports Growth 12.2.16 Merchandise Imports Growth 12.2.17 Annual Average Exchange Rate Eur–us$ 12.3 Infrastructure 12.3.1 Commercial Vehicles Exports – Total Value 12.3.2 Commercial Vehicles Imports – Total Value 12.3.3 Automotive Exports – Total Value 12.3.4 Automotive Imports – Total Value 12.3.5 Total Internet Subscribers 12.4 Labor Force 12.4.1 Unemployment Rate 12.5 Demographics 12.5.1 Gross National Disposable Income (us$) 12.5.2 Total Population 12.5.3 Urban And Rural Populations 12.5.4 Age Distribution Of The Total Population 13 Appendix 13.1 Methodology 13.2 Contact Timetric 13.3 About Timetric 13.4 Timetric’s Services 13.5 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Life Insurance in Argentina, Key Trends and Opportunities to 2018

×