Mapfre: 'Argentina is a very attractive market for us'

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Friday, November 10, 2017

The head of Spanish insurance giant Mapfre's Latin American division said he was upbeat on business prospects in Argentina.

"Argentina is a very attractive market for us and we see significant growth, above all in the non-life business where there is a lot of space to grow," said Aristóbulo Bausela.

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He was speaking during a business event in Spain, Argentina's insurance watchdog SSN said in a statement. At the meeting, Argentine officials talked about investment opportunities in the Latin American nation's insurance and financial services sectors.

The meeting, attended by more than 120 decision-makers, took place in Madrid at the headquarters of Spain's national confederation of business chambers CEOE.

Among the Argentine delegation was the acting president of the Argentine senate, Federico Pinedo.

"We're in an interesting period characterized by political agreement. Forecasts indicate Argentina is going to grow after six years of not doing so," Pinedo said at the event, opened by the head of Catalonia's business chamber, Joaquín Gay de Montellá.

In a presentation, SSN chief Juan Pazo said: "Returning [from isolation] and modernizing the SSN and the sector are fundamental in growing the insurance market.

"Adopting measures in line with best international practices is vital for the development of Argentina's capital market, and, today, the country has an insurance market with unparalleled potential. I am convinced there are no other countries that have as much growth potential as Argentina."