2023-10-10 23:09:06
The chamber that brings together insurance companies in the interior of our country held its annual meeting to discuss the report, balance sheet and election of new authorities.
At the end of a complex year for the country, fundamentally in what has to do with economic stability, ADIRA (Interior Insurance Companies of the Argentine Republic) held its annual meeting this Tuesday. There the report and balance sheet was put to the consideration of the associates and the new authorities were defined. There was discussion about what happened in the last year, also thinking about strategies for the new period in a scenario of great uncertainty. The member companies of ADIRA participated in the assembly and within that framework the president of the entity, Juan Carlos Mosquera, who renewed his position for the next period, summarized what had been done throughout the year.
“This meeting finds us in an extremely difficult scenario, in the context of a year crossed by exorbitant inflation, a sharp decline in growth and an uncertain outlook for 2024, where the main risk rating agencies predict a new decline in activity. economic and a spike in inflation above current values. Faced with this panorama, the insurance market is one of the first to suffer its consequences,” he noted with concern. After these words, he recounted the challenges of the last year, where ADIRA has taken steps to resolve key issues such as the difficulty of accessing the foreign currency necessary to pay international reinsurers, the increase in judicial proceedings in the two main branches of insurance. (automotive and occupational risks) and the decapitalization that the sector’s investments meant due to the negative return caused by inflation was also announced.
Despite all this situation, it is worth saying that the insurance sector has known how to adapt to a complicated context, focusing on the solid companies that make it up, anchoring themselves on their pillars to face this crisis context. Mosquera added specific data on the insurance sector: “The latest statistical data published by the National Insurance Superintendency correspond to March 2023 and highlight that the total production of the sector registers very insignificant growth in real terms. Total premiums issued reached $2,223.7 million, equivalent to an advance of 99.8% compared to the same period of the previous year. However, inflation for that 12-month period, from March 2022 to the same month of 2023, was 104%, which leaves a very marginal margin for progress.”
Regarding the proposals that ADIRA will continue to work on, the efforts for the agricultural multi-risk insurance project for Santa Fe and the country will continue. Work will also continue to have profitable investment alternatives for the insurers’ portfolios. , the programs will be deepened to continue generating insurance awareness, also thinking about the link with the different actors in the economy and with the Superintendency.
The pride of having the world congress of the sector in Argentina
Despite this complex context, the truth is that there is good news for 2024, because Argentina will host one of the largest world congresses, that of the International Cooperative and Mutual Insurance Federation (ICMIF International Cooperative and Mutual Insurance Federation , acronym in English). That is a great challenge for next year, in this sense Mosquera added that “we are pleased to remember that the Buenos Aires 2024 Biennial of ICMIF, will have our Chamber, together with the Argentine Association of Cooperatives and Mutual Insurance Companies (AACMS), as local hosts. We are focusing a large part of our efforts on this challenge, given the significant opportunity that this instance presents to us when it comes to revalidating our prestige and track record in the Cooperative and Mutual Insurance activity worldwide.”
Finally, the president of ADIRA, highlighted that it is “proud to share a new year of management that, as has been happening for more than 40 years, continues to mark the path of the Argentine insurance market, being a transcendent and essential actor in the development of the activity and the country.”
After the assembly, ADIRA members shared a talk by political analyst and public opinion consultant Jorge Giacobbe on the “Social and political climate” 2 weeks before the general elections.
ADIRA Board of Directors for the period 2023/2024
President: Juan Carlos Mosquera – La Segunda Insurance Group.
Vice president: Diego Jorge Guaita – San Cristóbal Group.
Secretary: Gustavo Antonio Giubergia – Sancor Seguros Group.
Treasurer: Luis Jorge Ferro – Cooperación Seguros.
Vocal Titular 1°: María Gabriela Marchi – Previnca Seguros.
Vocal Titular 2°: Marcelo Gabriel Lescano – La Segunda Insurance Group.
1st Substitute Vocal: Andrea Aidelman – Sancor Seguros Group.
Substitute Vocal 2nd: Jorge Héctor Marchini – NSA Seguros Generales SA
Substitute Vocal 3rd: Adolfo Jose Beccani – Secure Metal.
Rev. of Accounts Holder: Camila Brüel – Dan Mutual Association.
Alternate Accounts Reviewer: Lidia Leonardi – Grupo San Cristóbal.
Ethics and Arbitration Commission
Titular: Alejandro Carlos Simón – Sancor Seguros Group; Alberto José Grimaldi – La Segunda Insurance Group; Ovidio Butani – Insurance Cooperation.
Alternate: Héctor Aguirre – Segurometal.
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