The establishment of branches of foreign insurance and reinsurance companies in Argentina is subject to reciprocity.
"Activities covered
ARTICLE 1. The exercise of the insurance and reinsurance activity anywhere in the territory of the Nation, is subject to the regime of this law and to the control of the authority created by it. [...]
When this law refers to insurance, it is understood to include any form or modality of insurance activity. Reinsurance is also included, as long as the legal reinsurance regime in force is not affected.
Entities that can operate.
ARTICLE 2.- They can only carry out insurance operations:
a) Stock companies, cooperatives and mutual insurance;
b) Branches or agencies of foreign companies of the types indicated in the previous paragraph;
c) Official or mixed, national, provincial or municipal organisms and entities.
Prior authorization.
The existence or creation of the companies, branches or agencies, bodies or entities indicated in this article, does not enable them to operate in insurance until they are authorized by the control authority.
[...]
Foreign companies.
ARTICLE 5.- The branches or agencies referred to in article 2, subsection b), will be authorized to exercise the insurance activity under the conditions established by this Law for public limited companies incorporated in the country, if there is reciprocity according to the laws of their domicile. [...]" (Law No. 20.091 on Insurance Establishments (7 February 1973), last amended by Resolution 492/2021 of 11 June 2021, Articles 1, 2 and 5 [google translation])
Law No. 20.091 on Insurance Establishments (7 February 1973), last amended by Resolution 492/2021 of 11 June 2021, Articles 1, 2 and 5
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