ANNOUNCEMENT 04 May 2017

The Government of Argentina established that reinsurance and retrocession services may be supplied
through local reinsurers and/or cross-border reinsurers, modifying the risk allocations scheme.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Official Gazette of the Argentine Republic. Boletín Oficial de la República Argentina. Ministerio de Finanzas. Superintendencia de Seguros de la Nación. Resolución 40442-E/2017. Available at: https://www.boletinoficial.gob.ar/#!DetalleNorma/163138/20170504

Inception date: 04 May 2017 | Removal date: open ended

Local operations

On May 4, 2017, the Ministry of Finances of Argentina adopted Resolution 40422-E/2017 establishing a new scheme for the allocation of risks. The new regulation allows companies to place up to a certain percentage of their risks with reinsurers located abroad. The regime is set as it follows:

  • up to 50% of their ceded premiums for contracts beginning 1 July 2017;
  • up to 60% of their ceded premiums for contracts beginning on 1 July 2018;
  • up to 75% of ceded premiums for contracts beginning on 1 July 2019.

Previously to this legislation, insurance companies could only reinsure individual risk with cross-border reinsurers above USD 50 million.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
N/A