The extraordinary economic growth experienced by Argentina after the crisis of 2001 - 2002 has allowed family savings to progressively recover. Some of these savings are now being allocated to long-term savings instruments such as life annuities to provide a better retirement.
Last year, retirement insurance accounted for 9% of total insurance production in Argentina, with growth in turnover of ARS 10 billion. The business has two segments:

1) Voluntary Individual and Group Annuities
2) Social Security Annuities

New retirement pension offer
Network Partner Galicia Seguros has launched Galicia Social Security Annuities (Renta Vitalicia Previsional). Recent changes to regulations affecting this area have made it easier for clients to judge the various products on offer, as well as the providers.

Strong local Network Partner
Galicia Seguros has a very strong brand in the Argentinean financial market, giving it a considerable advantage.

The Galicia Insurance Group was established in 1994, and is owned by Banco Galicia, the largest private sector bank in Argentina, and Grupo Financiero Galicia. Gross premium income for the Galicia Insurance Group in the year to October 2007 amounted to ARS 115 million for life products and ARS 2.8 million for annuity products, with over 2.7 million lives insured. In November 2007, Galicia Insurance Group was awarded a Fitch “AA” rating.

Galicia Seguros pools an extensive range of group life products. Clients benefit from volume discounts on group premiums, a variety of premium payment options, attractive local dividends paid out in cash, and a choice of administrative services.