Date: Thursday, January 15th, 2026 by Michaela Hickson.
Reforms are aiming to reinforce insurers’ financial capacity, ensure compliance with their obligations and mitigate systemic risk in the insurance sector.
In recent years, particularly since early 2024 under the new administration of Argentina’s insuranceregulator, the Superintendencia de Seguros de la Nación (SSN), a general trend towards regulatory streamlining has become evident; however, this simplification has not necessarily led to any relaxation of technical controls.
On the contrary, the SSN has strengthened supervisory mechanisms concerning solvency through two centraltools: the adjustment of the minimum capital regime and the update of the technical reserves system. Both reforms aim to reinforce insurers’ financial capacity, ensure compliance with their obligations and mitigate systemic risk in the insurance sector.
Minimum capital regime
Adjustment of the minimum capital regime regards the determination of sufficient and technically substantiated minimum capital. A single capital requirement of 750,000 UVA (units of purchasing value) – currently equivalent close to $857,390 – was established, applicable across all insurance lines. This replaced the previous system, which applied different requirements by line of business. For local reinsurers,the minimum capital required is 3,750,000 UVA ($4.3m). The rule established a schedule for gradual compliance and the new capital requirements will apply fully as of June 2026.
The second element, the update of the technical reserves regime, seeks to improve the alignment between actual obligations and accounting estimates in labour risks insurance. This rule, among other measures, has unified the IBNR reserve at an amount equivalent to 10% of the premiums issued in the past four quarters.
The regulatory framework accompanying these reforms reflects the fact the SSN’s objective is not limited to adjusting accounting parameters but extends to preventing insolvency and, ultimately, avoiding the dissolution and liquidation of insurers.
Strict supervision
The SSN has also demonstrated the effectiveness of its strict supervision beyond the enactment of rules aimed at strengthening insurers’ solvency. During the incumbent administration, it has promoted the compulsory liquidation of three insurers for non-compliance with solvency standards, all of which are engaged in judicial proceedings with the regulator at present.
It is noteworthy the SSN’s recent regulatory policy demonstrates a clear orientation toward international solvency and prudential standards, particularly those reflected in the European Solvency II framework anddeveloped by the European Insurance and Occupational Pensions Authority.
The framework is structured around three pillars – quantitative capital requirements; governance and risk-based supervision; and transparency and market disclosure – which together form a comprehensive model for solvency assessment and management.
Although Argentina has not yet fully adopted this framework, recent regulatory reforms are advancing in that direction and incorporate several of its substantive principles as Argentina advances towards closer alignment with the framework.
Credit: Luis Matias Ponferrada is a partner at Abeledo Gottheil, the Argentinian member of Global Insurance Law Connect
This article was first published in Insurance Day on 13 January 2026
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