Insurers’ fortunes change in line with economic recovery

The Argentine economy is enjoying one of its best periods in history, with annual growth rates of around 9% since 2003

In general terms, the performance of the insurance industry in Argentina is recovering strongly. The latest market figures, released by the Insurance Department of Argentina (SSN), for the first half of fiscal year 2007/8, from July to December 2007, reveal that total written premiums stood at AR$11.63bn (US$3.73bn), with an underwriting loss of AR$14.66mn (US$4.7mn) and positive net results of AR$501.76mn (US$160.77mn), after financial profits of AR$772.5mn (US$247.5mn).