Life and annuity market grows in Argentina

Figures released by the Argentinian insurers’ association has revealed the life and annuities sector collected P2.35bn (US$2.35mn) of premiums for the period to September 2000. It now represents 0.85% of Argentina’s GDP. Life premiums accounted for 65% or P1.54bn of this amount, according to the Argentine Life & Annuities Insurers Association (Avira). This compares with an Argentinian insurance market’s total (life and non-life) premium income of P6.9bn, or 2.3% of GDP. The latter represents a 2% increase over the previous 12-month period.