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29 Jan 2019, Natalia Yanakieva, Head of EMIS Insights, EMIS

Argentina’s insurance regulator, cos join hands to encourage savings, investments

Argentina's insurance regulator (SSN) announced various tax incentives for savings products of life and retirement insurance companies. The tax reliefs per product for 2019, 2020 and 2021 were set at ARS 12,000, ARS 18,000 and ARS 24,000. Consumers will be permitted to use several deductions related to multiple products and the tax incentives will be adjusted annually according to the UVT indexed-linked unit. The measures are expected to utilise the potential of the local insurance sector to become a more influential driver of the domestic economy. The initiative is supported by the market players, who will boost investments in financial instruments that support SMEs to 5% from 3% of total investments. This is anticipated to generate ARS 11bn for the segment.

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