The Argentina Superintendency of Insurance (SSN) announced that Chamber D of the National Commercial Court of Appeals overturned a first-instance decision on 25 November 2025 and upheld the SSN’s appeal, clearing the way for the SSN to be designated as liquidator of Orbis Compañía Argentina de Seguros S.A. under Article 50 of Law 20.091. The court adopted the reasoning of the General Prosecutor’s Office, which flagged substantial information deficiencies in the insurer’s voluntary liquidation process, regulatory non-compliance, and signs of capital fragility that could undermine policyholder protection. The ruling stressed that state oversight of liquidations requires information that is clear, complete and timely, and warned that accepting a plan failing to meet those standards could amount to an improper delegation of the protection of the public interest. The SSN indicated it will immediately take the corresponding steps before the National Court of First Instance in Commercial Matters No. 19, Secretariat No. 38, and will publish procedural steps, dates and updates once the court sets them.
Argentina Superintendency of Insurance 2025-11-26
Argentina Superintendency of Insurance secures appellate ruling to be appointed liquidator of Orbis Compañía Argentina de Seguros
The Argentina Superintendency of Insurance (SSN) is now the liquidator of Orbis Compañía Argentina de Seguros S.A. after a court overturned a previous decision. The court cited deficiencies in the insurer's voluntary liquidation, including regulatory non-compliance and capital fragility, stressing the need for clear, timely information to protect policyholders. The SSN will take necessary steps before the National Court of First Instance in Commercial Matters.