Argentina’s Superintendency of Insurance issued changes to the General Regulation of Insurance Activity to raise technical standards for calculating technical reserves and support the solvency of the insurance system. The update revises how insurers must set reserves for claims pending in mediation and litigation, and for incurred but not reported (IBNR) claims. The revised criteria apply across all business lines and are intended to better reflect the actual development of claims at the time reserves are calculated, improving the valuation of technical liabilities. The resolution also adjusts the ranges used for updated judicial claims and the related minimum liability amounts, to align reserving levels with prevailing judicial and financial conditions. The changes were developed through joint work with industry chambers and the Professional Council of Economic Sciences. The new requirements apply from financial statements with a closing date of 30 June 2025 (inclusive) and will be accompanied by an amortisation scheme to allow a gradual adjustment of reserve levels and limit the immediate impact on insurers’ capital positions.
Argentina Superintendency of Insurance 2025-06-04
Argentina Superintendency of Insurance updates reserving rules for pending claims and IBNR with phased implementation from 30 June 2025 accounts
Argentina’s Superintendency of Insurance revised the General Regulation of Insurance Activity to enhance reserve calculation standards and system solvency. Changes affect reserve setting for claims in mediation, litigation, and incurred but not reported (IBNR) claims, aligning with judicial and financial conditions. Developed with industry input, these updates apply from financial statements closing on 30 June 2025, with an amortisation scheme to ease capital impact.