Commissions to insurance agents and brokers
Commissions to bancassurance and other alliances
At the end of Q3 2023, the commissions awarded to insurance agents, brokers, and bancassurance in Argentina exhibit a notable nominal year-on-year surge of 146%. When scrutinizing the data by intermediary type, commissions for agents and brokers have recorded an average escalation of 150%, whereas those for bancassurance and other alliances have witnessed a growth of 124%.
In terms of market share expansion within the realm of commissions disbursed by insurers to insurance agents and brokers, TRIUNFO SEGUROS secures the top position with an increase of +0.94 percentage points, closely trailed by SEGUROS RIVADAVIA with a gain of +0.53%. LA SEGUNDA (+0.35%), MERIDIONAL SEGUROS (+0.30%), and PROVINCIA SEGUROS (+0.29%) round off the list of the five leading entities in this metric as of the quarter's end.
Conversely, delving into commissions directed to Bancasseguros and other commercial alliances, LIFE SEGUROS emerges as the frontrunner, achieving the first position with a remarkable growth of +2.26% in market share points. ZURICH-SANTANDER, making strides with +1.77%, and QUALIA, exhibiting a noteworthy +1.33% increase, follow closely behind with commendable performances. LA CAJA (+0.76%) and SAN CRISTOBAL SEGUROS (+0.43%) secure the fourth and fifth positions, respectively.
Moreover, considering the overall volume of commissions across all channels, FEDERACIÓN PATRONAL retains its premier standing with a 10.15% market share, closely pursued by SANCOR SEGUROS at 8.37%. Out of the 126 entities that have reported commissions in the analyzed period, the dominance of the leading players remains decisive, with the top 10 insurers commanding 50.4% of the total commissions in the market.
