Non-Life Insurance in Mexico, Key Trends and Opportunities to 2018

Date: 2015-09

Mexico is the second-largest economy in Latin America after Brazil, and has the regionโ€™s fourth-highest GDP per capita, after Chile, Brazil and Argentina. In 2009, the Mexican economy experienced a 19.3% decline in GDP at current prices due to the global financial crisis, which affected exports and foreign direct investment (FDI). Despite this, the industry expanded significantly during the review period (2009โ€“2013), at a compound annual growth rate (CAGR) of 9.8% in terms of gross written premium. This growth was partly due to the robust regulatory environment and favorable demographic dividends, including the rising middle class population. The introduction of innovative insurance products, the expansion of microinsurance and foreign participation also contributed to this growth.

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