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Argentina's reinsurance premiums hit US$775mn

Bnamericas Published: Wednesday, November 27, 2013

Argentina's reinsurance sector had premiums of 4.74bn pesos (US$775mn) for the 2012-13 fiscal period, of which 1.73bn pesos was retained, said local news site Contenidos & Comunicaciones.

Of Argentina's 25 authorized reinsurance companies, 10 had a premium retention rate above 40%, said the site.

In 2011, local insurance regulator SSN instructed the country's insurers to buy their reinsurance coverage only with companies domiciled in Argentina.

Not only has the outflow of premiums to foreign countries been reduced by the regulations, but reinsurance liabilities have also decreased, said the site, and there has been an increase in the retention rate.

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