Argentina insurance industry grows at a CAGR of 37.4% in 2021

The insurance business in Argentina saw an ascent at a build yearly development rate (CAGR) of 37.4% during 2016 to 2021 to reach $10.9bn (ARS1,037.2bn) in 2021, as per GlobalData's worldwide insurance data set.

From 2016 to 2021, the life insurance and benefits market developed at a CAGR of 31.8%, while the overall insurance market enlisted a CAGR development of 38.6%.

For more life insurance market trends in Argentina insights on this report,  download a free report sample

The insurance business in Argentina is determined to develop at a CAGR of 29.7% during 2021 to 2026 to reach $17.2bn (ARS3,805.7bn) in 2026. Over the projection period, life insurance and benefits is supposed to develop at a CAGR of 28.9%, though broad insurance is projected to develop at a CAGR of 29.8%.

Market piece

General insurance drove the insurance market, holding a worth of $9.2bn (ARS879.3bn) and a portion of 84.8% in 2021. Life insurance and benefits held a worth of $1.7bn (ARS157.9bn) and a portion of 15.2%.

Development rate by markets

In 2021, the overall insurance market developed at a pace of 48% north of 2020, trailed by the life insurance and benefits market which enrolled a development pace of 46.4% over the earlier year.

Procedure

This investigation is drawn from GlobalData's Worldwide Insurance Information base, which tracks key insurance measurements across fragments, classes, and line of organizations for 170 markets, universally. The information is obtained from administrative bodies and insurance affiliations and is planned according to our standard Industry Local Scientific categorization Construction. The computations depend on expenses normalized by the accompanying request of inclination Gross Composed Charges > Direct Composed Expenses > Net Procured Expenses > Net Composed Expenses. Decision's parent organization GlobalData gives business data to 4,000 of the world's biggest organizations

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