Latin America round up

According to the most recent report published last week by Argentina’s Pension Fund Managers (AFJP) Superintendency, the private pension system has 81,000 beneficiaries. Fifty-nine percent are collecting death pensions, 27% are pensioners and 15% retired due to disability. According to stastics prepared by the Argentine Insurance Companies Association only 66.3% of the 6,229,216 vehicles in Argentina have some kind of insurance, while the rest do not have even the mandatory liability insurance. This problem affects motor insurers because they are losing about $1.3bn a year in premiums.