The Superintendent of Insurance prohibited the payment
outside Argentina of claims and surrender values of life insurance
policies with foreign savings.
Through Resolution 36,746, of May 4, 2012, the Superintendent of
Insurance (the "SSN", after its acronym in Spanish)
prohibited the payment outside Argentina of claims and surrender
values of life insurance policies with foreign savings. This new
resolution complements a series of regulations that restrict the
right of insurers to pay claims abroad almost entirely.
The new resolution of the SSN is consistent with the
insurers' obligation to repatriate all their investments and
funds established in late 2011 (see Insurance News 7
"
Changes in the Investment Regime for
Insurers" and Insurance News 8
"
Repatriation of Investments and Funds: Insurers Are
Exempted from the Mandatory Reserve
Requirement"), and the ban on
maintaining investments and funds abroad (article 2 SSN Resolution
36162). The compulsory
