Without pause or rest, the National Insurance Superintendency (SSN), the regulator of the respective activity, carries out Guillermo recordcontinues to organize the panorama of the industry and The passing of the chainsaw between numerous companies that at least didn’t have the numbers to function.
The government of Javier Milei is beginning to advocate a concentration of insurance activities on a few very solvent companies, able to invest in the real economy thanks to the millions in revenue they have in the only business in which they bill in advance and pay the service later only when necessary.
Insurance companies under the microscope of the government of Javier Milei
The latest news from the National Insurance Superintendency, the control and regulation authority of the activity led by Guillermo Plate, and the iProfessional followed closely, points out The sanctions against two traditional insurance companies cannot be reversed.
TPC SA., a traditional insurer recently run by the Campici family, like the liquidated Boston Seguros, had prosecuted the compulsory liquidation to which the SSN subjected it. He was unsuccessful and Guillermo Plate continued to appoint liquidators.
As stated in Resolution 637/25 of November 20 last year, “The authorization to operate in the insurance business for TPC COMPAÑÍA DE SEGUROS SA has been revoked” and decided to appoint the agents Vanina Marisel Cesari and Marcelo Agustín Parisi as liquidators and four other inspectors.
In the case of Orbis Seguros, the Chamber of Commerce appointed it after agreeing with the need to deny the traditional car insurance company voluntary liquidation six more agents to begin liquidating the insurance company. A similar path that GALENO ART could takean integrated company, but whose workers’ compensation department is in a difficult-to-resolve crisis, which will result in a statement from the head of the superintendence before next Friday.
TPC SA, the company founded by the Gómez family, was led by until 2019 Mauricio Ariel Campici and Carlos Martín Lufrano and in 2002 by Gabriel Hamuifinally received confirmation of its liquidation. This is how the Chamber of Commerce solved it. Chamber E consisting of judges Alfredo KollikerFrers; Hector Chomer and Maria Guadalupe Vasquez.
The insurance regulator who takes the lead Guillermo record He continued to liquidate insurance companies throughout 2024 because their numbers were nowhere near high and many of them had unpaid judgments. A relentless series of sanctions against companies like Boston, Caledonia, Escudo, Orbis Seguros, La Nueva and others that TPC has joined.
In November 2024, the national authorities decided to revoke the company’s authorization to operate in the insurance sector. He also banned him from managing his assets and froze all bank accounts. It also caused significant damage to insurance companies as many were left unemployed.
In this sense, one of the three general secretaries currently leading the CGT, JorgeSola, had warned of the difficulties since 2023. His union had been on alert and mobilizing after learning of the layoffs by the Campici group company TPC. In 2023, “we learned with great concern of the layoffs of workers carried out by the TPC company of the Campici Group,” said Sola. Since then, they have been warning about the direction of TPC and Boston due to the bankruptcy of Escudo Seguros; And “Unfortunately we weren’t wrong”said the union representative.
In the case of Orbis Seguros, with more than 350,000 customers, mostly related to vehicle insurance, and with many rejected checks and balances that did not satisfy the super regulators, The company’s board of directors announced that they would be leaving the company and making the exit as orderly as possible.
In this context, they applied for a voluntary liquidation managed by them, but in response to the complaint of the SSN regulators, the judiciary, through the National Court of Appeal, Chamber D, decided to reject the voluntary liquidation of the insurer linked to the taxi drivers’ investment fund, AMCA. The authorities immediately appointed the liquidators.
Galeno ART is going through a very serious moment. The days of Julio Fraomeni’s company are numbered, as explained by several ART inspectors. The activity regulator gave them a deadline ending at this time to cover the operating deficit of $12,954.8 million. A red who was recognized by the company authorities with a low voice. Occupational accident insurance is seeing an increasing decline in policies and could continue to suffer market losses following this government decision. The general asset freeze is a measure that, although it does not affect the company’s current account balance, cannot dispose of its investments and assets until the sanction is lifted.
In recent times, almost no insurer designated by the National Insurance Supervision, led by Guillermo Plate, managed to lift the inhibition and almost all of them were eventually liquidated, leading to a reorganization of the sector that had already gone down in history, among others, Caledonia, Bostón, Escudo, Orbis and La Nueva.
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