| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 16.21 Billion |
| Market Size (2030) | USD 23.82 Billion |
| CAGR (2025 - 2030) | 8.00% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Argentina Life & Non-Life Insurance Market Analysis by Mordor Intelligence
The Argentina Life & Non-Life Insurance Market size is estimated at USD 16.21 billion in 2025, and is expected to reach USD 23.82 billion by 2030, at a CAGR of 8% during the forecast period (2025-2030).
Argentina witnessed a significant increase in the number of start-ups in the financial and insurance industries in the last few months. The total number of companies that operated in the Argentina insurance market in 2021 amounted to 207, 191 being from insurance entities and 16 local reinsurers. The intermediation in the market is in the hands of the advisers that produce insurance (individuals and legal entities) and reinsurance intermediaries that, in total, reached 44,556 agents, of which 44,531 are in the insurance area, and 25 are reinsurance intermediaries.
The COVID-19 pandemic set the path for enhanced operational performance and efficiency through digital channels and technology improvements. For example, La Caja signed an arrangement with Mercado Libre, the largest e-commerce platform in Latin America, to promote its non-life insurance business. The digital platform will allow users to browse rates and insure their auto and house policies online.
Motor insurance is expected to witness significant growth; Argentina's government intends to implement a new tax scheme that would target polluting vehicles. Over the next few years, the demand for automobile insurance is likely to be driven by the introduction of usage-based insurance (UBI) and technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and online pricing comparison.
Argentina Life & Non-Life Insurance Market Trends and Insights
Increasing Focus Towards Digitization in the Life Insurance and Non-life Insurance Industry
The Inter-American Development Bank (IDB) has approved a USD 100 million loan for a program to promote internet access and digitization in Argentina. The operation seeks to improve digital connectivity infrastructure in remote areas, increase the National Data Center's capacity, and improve citizens' digital capabilities in connected areas.
The Program for the Development of the Federal Fiber Optic Network (REFEFO) will finance the expansion and equipping of infrastructure to connect 258 localities in remote areas with fiber optics. It will also enhance international connectivity infrastructure to boost digitization quality, lower prices, and provide regional digital integration.
The usage of digital services and applications was further bolstered by the inception of the COVID-19 pandemic, which allowed consumers to carry out insurance-related processes from their homes. Due to the imposition of a lockdown and stay-at-home restrictions in Argentina, most of the claims were processed online.
Understand The Key Trends Shaping This Market
Download PDF
InsurTech Start-ups Revolutionizing Insurance in Argentina
Argentina is the third largest country in Latin America, having InsurTech companies. The Superintendencia de Seguros de la Nacion of Argentina officially launched an InsurTech Innovation Hub in 2019, a collaborative space to boost the growth of innovative solutions for insurance through the use of technology, which will draw together the insurance industry, the technology sector, academia, the regulator, and government agencies.
123Seguro is a start-up that empowers its customers by combining instant price comparison with professional advice. It provides the widest offer on the Internet and creates a new user experience in the insurance sector. With this, it makes insurance more agile, with no formalities, and brings the best prices.
Get Analysis on Important Geographic Markets
Download PDF
Competitive Landscape
The report covers major players operating in the Argentina Life and Non-life Insurance Market. A few major players currently dominate the market in terms of market share. However, with technological advancement and service innovation, domestic and international companies are increasing their market presence by securing new contracts and tapping new markets. It has major players including Mercantil Andina, Marsh Mclennan, Sancor seguros, Grupo asegurador la segunda, and San cristobal seguros.
Argentina Life & Non-Life Insurance Industry Leaders
-
Sancor seguros
-
Grupo asegurador la segunda
-
San cristobal seguros
-
Mercantil Andina
-
Chubb
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competitors?
Download PDF
Recent Industry Developments
- June 2022: Seguros Sura collaborated with Akur8, an AI pricing platform, to boost its insurance pricing process across Argentina, Chile, and Colombia. This partnership will help Seguros Sura to automate the pricing process of their life insurance products to harmonize practices.
- October 2022: La Segunda announced three new features to protect crops for the 2022/23 campaign, focusing on late corn: coverage of replanting expenses, extension of insurance against hail and fire, and discounts on policies. La Segunda insurer offers to pay 100% for replanting and extends coverage for fires.
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now
Argentina Life & Non-Life Insurance Market Report Scope
Life insurance provides a lump sum of the sum assured at maturity or in case of the policyholder's death. Non-life insurance policies offer financial protection to a person for health issues or losses due to damage to an asset.
The Argentinian life and non-life insurance market is segmented by insurance type (life insurance (individual and group), non-life insurance (motor, home, marine, health, and other non-life insurances)), and by distribution channel (direct, agency, banks, online, and other distribution channels).
The report offers market size and forecasts for Argentina's Life and non-life Insurance Market in value (USD) for all the above segments.
By Type
| Life insurance | Individual |
| Group | |
| Non- life insurance | Motor |
| Home | |
| Marine | |
| Health | |
| Rest of Non-Life Insurance |
By Distribution Channel
| Direct |
| Agents |
| Banks |
| Online |
| Other Distribution Channels |
| By Type | Life insurance | Individual |
| Group | ||
| Non- life insurance | Motor | |
| Home | ||
| Marine | ||
| Health | ||
| Rest of Non-Life Insurance | ||
| By Distribution Channel | Direct | |
| Agents | ||
| Banks | ||
| Online | ||
| Other Distribution Channels | ||
Need A Different Region or Segment?
Customize Now
Key Questions Answered in the Report
How big is the Argentina Life & Non-Life Insurance Market?
The Argentina Life & Non-Life Insurance Market size is expected to reach USD 16.21 billion in 2025 and grow at a CAGR of 8% to reach USD 23.82 billion by 2030.
What is the current Argentina Life & Non-Life Insurance Market size?
In 2025, the Argentina Life & Non-Life Insurance Market size is expected to reach USD 16.21 billion.
Who are the key players in Argentina Life & Non-Life Insurance Market?
Sancor seguros, Grupo asegurador la segunda, San cristobal seguros, Mercantil Andina and Chubb are the major companies operating in the Argentina Life & Non-Life Insurance Market.
What years does this Argentina Life & Non-Life Insurance Market cover, and what was the market size in 2024?
In 2024, the Argentina Life & Non-Life Insurance Market size was estimated at USD 14.91 billion. The report covers the Argentina Life & Non-Life Insurance Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Argentina Life & Non-Life Insurance Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Page last updated on:
Argentina Life & Non-Life Insurance Market Report
Statistics for the 2025 Argentina Life & Non-Life Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Argentina Life & Non-Life Insurance analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
