Insurance survey: La Meridional
Despite a population of about 560 million – nearly 10% of the world total – Latin America has only 2% of the global insurance market. So it’s no wonder that insurance companies see strong growth potential. La Meridional (AIG Argentina) is one firm eyeing the opportunities.
Founded in 1949, along with Caja de Seguros and Mapfre it is one of the leading insurance companies in Argentina.
La Meridional, which was voted the best insurer in Argentina in the Euromoney survey, is committed to developing new products and entering new markets. Chief executive Jaime Calvo says: “Argentina, as an emerging market, has many opportunities available for developing new products in different niches: for example, non-traditional insurance such as directors & officers and environmental coverage. There is also huge potential for growth in different niches through several distribution channels.”
La Meridional has also recognized the importance of diversifying away from insurance services: “We are also increasing our involvement with banks, for example Standard Bank, Santander Rio, Banco Francés BBVA and Citibank, with great results.”