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4w ago

Argentina Bars La Nueva Cooperativa de Seguros From New Contracts Over Severe Reserve Gap

Emergency powers under Law 20.091 enabled the Superintendence of Insurance to freeze the cooperative’s underwriting in order to protect policyholders.

Las inspecciones realizadas en la compañía revelaron graves inconsistencias contables, documentación incompleta o ausente, y un nivel de reservas técnicas por debajo de los parámetros que exige la normativa vigente.
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Brokers (Freepik)

Overview

  • The SSN published Resolution Sintetizada 382/2025 in the Official Gazette on July 25 to formalize the preventive measures against La Nueva.
  • On-site inspections found missing accounting and corporate books, underreported technical reserves and mismatched reinsurance debts.
  • A bank embargo exceeding 300 million pesos spurred similar creditor claims and drained the insurer’s liquidity.
  • A technical estimate determined La Nueva must boost its liabilities by about 4,470 million pesos—roughly a 93% adjustment—to meet regulatory reserve requirements.
  • La Nueva may appeal the prohibitions through the SSN’s TAD platform under Law 20.091, reflecting procedural safeguards in other recent insurer interventions.