Insurers unsure about tax implications of Argentine aviation decree

In the late 1940s the Argentine government established a monopoly on reinsurance through an agency that later became the State-owned “Instituto Nacional de Reaseguros (INdeR).” Purchasing policies protecting “any persons, property or any other insurable interest under national jurisdiction” from any insurer that was not licensed in Argentina was strictly forbidden (Law 12988 of 1947).