The Insurance Superintendency ordered the inhibition of the assets of the Caledonia Seguros firm and lifted the measure three days later.
The company Caledonia Insurance was inhibited by the National Insurance Superintendency (SSN) from carrying out disposition acts regarding its investments for failing to comply with the processes of presentation of its Financial Statements corresponding to the period ended December 31, 2023.
This implied that the insurer Caledonia Argentina could not use its assets andThe body that regulates the insurance sector explained in the foundations of Resolution 111/2024, issued on March 8, that “the lack of presentation of the Financial Statements entails such seriousness in relation to the determination and knowledge of the financial solvency of insurance and reinsurance entities”.
However, given that the company had the possibility of appealing the measure (in the terms of article 83 of Law 20,091), three days later, the Super decided to lift the general asset inhibition that weighed on Caledonia Seguros through the Resolution 116/2024.
The background of Caledonia Seguros
The measure was taken because the insurer finally presented, although late, the aforementioned Financial Statements as of December 31, 2023 and the situation was thus corrected.
It should be clarified that It is not the first time that the company has been inhibited. In 2017, the SSN had already ordered an identical measure, concluded in 2020, considering that the company did not have the liquidity or solvency to face its debts.
Source: Ambito
