The Superintendency of Insurance orders COMARSEG to reimburse 620 million

The Superintendency of National Insurance has ordered COMARSEG Compañía Argentina de Seguros S.A. to reinstate the capital necessary to reverse its minimum capital deficit, set at $620,698,998. The decision was adopted through Resolution 481/2026 (RESOL-2026-481-APN-SSN#MEC), dated November 12, 2026, and published in the Official Gazette of the Argentine Republic on November 13, 2026, in its First Section.

The instrument bears the signature of the National Insurance Superintendent, Guillermo Plate, and is processed under file EX-2026-79484545-APN-GA#SSN. The regulation is based on Article 31, second paragraph, of Law No. 20,091, which regulates the requirement for minimum capital integration for insurance entities.

Deadline and amount of the order

The resolution establishes a peremptory deadline for the company. According to the published text, the order includes:

• Reinstate the necessary capital within thirty (30) calendar days.
• Reverse the minimum capital deficit of $620,698,998 (six hundred twenty million six hundred ninety-eight thousand nine hundred ninety-eight pesos).
• Comply with the procedure of Article 31, second paragraph, of Law No. 20,091.

The ordered amount is not an estimate by the Superintendency at the time of issuing this resolution: it was determined by Resolution 447/2026 (RESOL-2026-447-APN-SSN#MEC), dated October 16, 2026, which constitutes the immediate precedent for the figure now required.

The accounting precedent and current precautionary measures

The administrative sequence regarding COMARSEG Compañía Argentina de Seguros S.A. (CUIT 33-71124698-9) began with the analysis of its financial statements. Resolution 447/2026, published in the Official Gazette on October 20, 2026, notified the insurer that the adjustments and observations corresponding to the Financial Statements as of June 30, 2026, had become final.

That same act ordered the company to provide explanations and adopt measures to maintain capital integrity within fifteen (15) calendar days, with the submission of a Regularization and Remediation Plan, and ratified the validity of previous precautionary measures:

• RESOL-2026-367-APN-SSN#MEC, dated August 21, 2026.
• RESOL-2026-394-APN-SSN#MEC, dated September 1, 2026.

On that occasion, the cause provided for in subsection a) of Article 86 of Law No. 20,091 was also incorporated into the grounds for the precautionary measures, within the regime of inhibitions and restrictions provided for entities with capital deficits.

Where to consult the full text

The Official Gazette publishes a summary of the resolution and clarifies that the full version can be consulted at the site kronos.ssn.gob.ar or in person at Avda. Julio A. Roca 721, City of Buenos Aires. The publication notice lists number 84993/26 and the signature of Ramon Luis Conde, in charge of the Administrative Management Office.

The demand affects an active insurance company, such that compliance with the 30-calendar-day deadline defines the continuity of its operations in the market and the equity position with which it responds to its policyholders. Resolution 481/2026 thus transfers the accounting dispute that the Superintendency has been maintaining with the company since August 2026 to the operational level and sets a concrete horizon, with amount and date, for the recomposition of its minimum capital.

Source: Official Gazette of the Argentine Republic, November 13, 2026, First Section (official reference: RESOL-2026-481-APN-SSN#MEC, notice No. 84993/26).