Insurance premiums in Argentina rose 8.8% to 36.12 billion pesos (US$ 9.2 billion) in the 12 months to the end of June, the Argentine insurance superintendency (SSN) has reported. The total in June 2010 was 3.12 billion pesos (US$ 793 million), an increase of 5.9% from May and 16.5% from June 2009.

The SSN said June’s total premium figure was dominated by property and casualty premiums of 2.51 billion pesos (US$ 638 million), which were up 5.8% compared with May. Life insurance premiums were 561 million pesos (US$ 143 million) and retirement insurance premiums were 52.8 million (US$ 13.4 million), up 6.6% and 4.9% respectively compared with the previous month.

The year over year increase in total premiums is positive news for the Argentine insurance market, which had seen stagnation and even regression in total premiums over the past few years.

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