Life Insurance in Mexico, Key Trends and Opportunities to 2020

  • ID: 4369187
  • Report
  • Region: Mexico
  • 119 pages
  • GlobalData
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FEATURED COMPANIES

  • Axa Seguros SA de CV
  • Metlife México, SA
  • Seguros Banamex SA de CV
  • Seguros Banorte SA de CV
  • MORE
The 'Life Insurance in Mexico Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Mexican life insurance segment, and a comparison of the Mexican insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Mexican economy and demographics, and provides detailed information pertaining to the country's competitive landscape.

The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles insurers operating in the country. The report also includes details recent changes in regulatory structure.

Summary:

The 'Life Insurance in Mexico, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Mexican life insurance segment, including:
  • The Mexican life insurance segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the life insurance segment
  • A comprehensive overview of the Mexican economy and demographics
  • The various distribution channels in the Mexican life insurance segment
  • Details of the competitive landscape in the life insurance segment in Mexico
  • Details of regulatory policy applicable to the Mexican insurance industry
Scope:

This report provides a comprehensive analysis of the life insurance segment in Mexico:
  • It provides historical values for the Mexican life insurance segment for the report’s 2011-2015 review period, and projected figures for the 2015-2020 forecast period.
  • It offers a detailed analysis of the key categories in the Mexican life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Mexican life insurance segment with its regional counterparts.
  • It analyzes the various channels distributing life insurance products in Mexico.
  • It profiles the top life insurance companies in Mexico and outlines the key regulations affecting them.
Reasons To Buy:
  • Make strategic business decisions using in-depth historic and forecast market data related to the Mexican life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Mexican life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insight into the key regulations governing the Mexican insurance industry.
Key Highlights:
  • In 2015, the life segment dominated the industry, accounting for 44.9% of the gross written premium.
  • A well-established regulatory environment created significant business opportunities for Mexican life insurers during the review period.
  • Since more than half of workers were employed informally in 2015, factors such as uncertainty around working conditions and limited social protection are expected to drive demand for private disability insurance over the forecast period.
  • Increasing demand for life and accident products from economically weaker sections of society is expected to drive the demand for microinsurance over the forecast periods.
  • The top 10 insurers operating in the segment accounted for 84.3% of the segment’s gross written premium in 2015; domestic and foreign insurers accounted for 49.7% and 34.6% of shares respectively.
  • Over the forecast period, the industry is expected to benefit from higher technical reserves and also by the effect of annualizing premiums.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Axa Seguros SA de CV
  • Metlife México, SA
  • Seguros Banamex SA de CV
  • Seguros Banorte SA de CV
  • MORE
1 KEY FACTS AND HIGHLIGHTS
2 EXECUTIVE SUMMARY
3 ECONOMY AND DEMOGRAPHICS
4 SEGMENT OUTLOOK
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Assets and investments
5 OUTLOOK BY SUB-SEGMENT
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Policies sold
5.2.3 Penetration
6 DISTRIBUTION CHANNEL OUTLOOK
6.1 Analysis by Distribution Channel
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 MetLife Mexico, SA - company overview
7.1.2 Seguros Banamex, SA de CV - company overview
7.1.3 Grupo Nacional Provincial, SAB - company overview
7.1.4 Seguros Monterrey New York Life, SA de CV - company overview
7.1.5 Seguros BBVA Bancomer SA de CV - company overview
7.1.6 Axa Seguros SA de CV - company overview
7.1.7 Seguros Banorte Generali, SA de CV - company overview
7.1.8 Allianz Mexico, SA, Compania de Seguros - company overview
7.1.9 Seguros Inbursa, SA, Grupo Financiero Inbursa - company overview
7.1.10 Zurich Santander Seguros Mexico, SA - company overview
8 GOVERNANCE, RISK AND COMPLIANCE
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Workers’ compensation insurance
8.4.2 Motor third-party liability insurance
8.4.3 Social security insurance
8.4.4 Liability for ships with respect to oil pollution
8.4.5 Liability insurance in respect of transportation of dangerous or toxic substances
8.4.6 Errors and omission insurance for bonding agents
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Association of Insurance Supervisors Latin America
8.5.3 Secretaria de Hacienda y Credito Publico
8.5.4 Comisión Nacional de Seguros y Fianzas
8.5.5 Association of Mexican Insurance Companies
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxations
8.8.2 Withholding taxes on premium paid overseas.
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 DATABOOK
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Direct Marketing and E-Commerce
9.5 Insurance Brokers and Agencies
9.6 Bancassurance and Other Distribution Channels
9.7 Individual Life Insurance
9.8 Individual Life Insurance by Product
9.9 Group Life Insurance
9.1 Group Life Insurance by Product
9.11 Individual Life - Single vs. Non-Single Premium
9.12 Group Life - Single vs. Non-Single Premium
9.13 Linked vs. Non-Linked Policies
10 DEFINITIONS AND METHODOLOGY
10.1 Definitions
10.2 Methodology
11 ABOUT TIMETRIC
11.1 Contact
11.2 About
11.3 Services
11.4 Disclaimer

List of Tables
Table 1: Mexican Life Insurance - Key Facts, 2015
Table 2: Mexican Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Mexican Government Credit Ratings
Table 4: Mexican Life Insurance - Gross Written Premium (MXN Billion and US$ Billion), 2011-2015
Table 5: Mexican Life Insurance - Penetration (%), 2011-2015
Table 6: Mexican Life Insurance - Gross Written Premium (MXN Billion and US$ Billion), 2015-2020
Table 7: Mexican Life Insurance - Penetration (%), 2015-2020
Table 8: Mexican Life Insurance - New Business Direct Written Premium (MXN Billion and US$ Billion), 2011-2015
Table 9: Mexican Life Insurance - New Business Direct Written Premium (MXN Billion and US$ Billion), 2015-2020
Table 10: Mexican Life Insurance - Premium per Capita (MXN and US$), 2011-2015
Table 11: Mexican Life Insurance - Premium per Capita (MXN and US$), 2015-2020
Table 12: Mexican Life Insurance - Paid Claims (MXN Billion and US$ Billion), 2011-2015
Table 13: Mexican Life Insurance - Paid Claims (MXN Billion and US$ Billion), 2015-2020
Table 14: Mexican Life Insurance - Total Assets (MXN Billion and US$ Billion), 2011-2015
Table 15: Mexican Life Insurance - Total Assets (MXN Billion and US$ Billion), 2015-2020
Table 16: Mexican Life Insurance - Total Investment Income (MXN Billion and US$ Billion), 2011-2015
Table 17: Mexican Life Insurance - Total Investment Income (MXN Billion and US$ Billion), 2015-2020
Table 18: Mexican Life Insurance - Investment Portfolio (MXN Billion), 2011-2015
Table 19: Mexican Life Insurance - Investment Portfolio (MXN Billion), 2015-2020
Table 20: Mexican Life Insurance - Direct Written Premium by Sub-Segment (MXN Billion),2011-2015
Table 21: Mexican Life Insurance - Direct Written Premium by Sub-Segment (MXN Billion), 2015-2020
Table 22: Mexican Individual Life Insurance - Direct Written Premium by Category (MXN Billion), 2011-2015
Table 23: Mexican Individual Life Insurance - Direct Written Premium by Category (MXN Billion), 2015-2020
Table 24: Mexican Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 25: Mexican Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 26: Mexican Group Life Insurance - Direct Written Premium by Category (MXN Billion), 2011-2015
Table 27: Mexican Group Life Insurance - Direct Written Premium by Category (MXN Billion), 2015-2020
Table 28: Mexican Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 29: Mexican Group Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 30: Mexican Life Insurance - New Business Direct Written Premium by Distribution Channel (MXN Billion), 2011-2015
Table 31: Mexican Life Insurance - New Business Direct Written Premium by Distribution Channel (MXN Billion), 2015-2020
Table 32: Mexican Life Insurance - Percentage of New Business Direct Written Premium, by Distribution Channel, 2011-2020
Table 33: Mexican Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 34: MetLife Mexico, SA - Key Facts
Table 35: MetLife Mexico, SA - Key Financials (MXN Billion), 2011-2015
Table 36: Seguros Banamex, SA de CV - Key Facts
Table 37: Seguros Banamex, SA de CV - Key Financials (MXN Billion), 2011-2015
Table 38: Grupo Nacional Provincial, SAB - Key Facts
Table 39: Grupo Nacional Provincial, SAB - Key Financials (MXN Billion), 2011-2015
Table 40: Seguros Monterrey New York Life - Key Facts
Table 41: Seguros Monterrey New York Life - Key Financials (MXN Billion), 2011-2015
Table 42: Seguros BBVA Bancomer SA de CV - Key Facts
Table 43: Seguros BBVA Bancomer SA de CV - Key Financials (MXN Billion), 2011-2015
Table 44: Axa Seguros SA de CV - Key Facts
Table 45: Axa Seguros SA de CV - Key Financials (MXN Billion), 2011-2015
Table 46: Seguros Banorte Generali, SA de CV - Key Facts
Table 47: Seguros Banorte Generali, SA de CV - Key Financials (MXN Billion), 2011-2015
Table 48: Allianz Mexico, SA, Compania de Seguros - Key Facts
Table 49: Allianz Mexico, SA, Compania de Seguros - Key Financials (MXN Billion), 2011-2015
Table 50: Seguros Inbursa, SA, Grupo Financiero Inbursa - Key Facts
Table 51: Seguros Inbursa, SA, Grupo Financiero Inbursa - Key Financials (MXN Billion), 2011-2015
Table 52: Seguros Inbursa, SA, Grupo Financiero Inbursa - Key Facts
Table 53: Mexico - Insurance Regulatory Framework Key Features
Table 54: Mexico - Life Insurance Regulatory Framework
Table 55: Mexico - Property Insurance Regulatory Framework
Table 56: Mexico - Motor Insurance Regulatory Framework
Table 57: Mexico - Liability Insurance Regulatory Framework
Table 58: Mexico - Implementation of Mandatory Motor Third-Party Liability Insurance
Table59: Mexico - Corporate Tax Rates for the Financial Year 2016
Table 60: Mexican Life Insurance - Policies and Premium, 2011-2015
Table 61: Mexican Life Insurance - Policies and Premium, 2015-2020
Table 62: Mexican Life Insurance - Claims and Expenses, 2011-2015
Table 63: Mexican Life Insurance - Claims and Expenses, 2015-2020
Table 64: Mexican Life Insurance - Assets and Investments, 2011-2015
Table 65: Mexican Life Insurance - Assets and Investments, 2015-2020
Table 66: Mexican Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 67: Mexican Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 68: Mexican Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 69: Mexican Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 70: Mexican Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 71: Mexican Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 72: Mexican Life Insurance - Individual Life Insurance, 2011-2015
Table 73: Mexican Life Insurance - Individual Life Insurance, 2015-2020
Table 74: Mexican Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 75: Mexican Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 76: Mexican Life Insurance - Group Life Insurance, 2011-2015
Table 77: Mexican Life Insurance - Group Life Insurance, 2015-2020
Table 78: Mexican Life Insurance - Group Life Insurance by Product, 2011-2015
Table 79: Mexican Life Insurance - Group Life Insurance by Product, 2015-2020
Table 80: Mexican Life Insurance - Individual Life Insurance by Premium, 2011-2015
Table 81: Mexican Life Insurance - Individual Life Insurance by Premium, 2015-2020
Table 82: Mexican Life Insurance - Group Life Insurance by Premium, 2011-2015
Table 83: Mexican Life Insurance - Group Life Insurance by Premium, 2015-2020
Table 84: Mexican Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
Table 85: Mexican Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
Table 86: Insurance Industry Definitions

List of Figures
Figure 1: Mexican Real GDP (MXN Billion), 2011-2020
Figure 2: MXN - US$ Exchange Rate ,2011-2020
Figure 3: Mexican Consumer Price Inflation (%), 2011-2020
Figure 4: Mexican Current Account Balance as Percentage of GDP (%), 2011-2020
Figure 5: Mexican Unemployment Rate, 2011-2020
Figure 6: Mexican Population by Age Group, 1990-2025
Figure 7: Mexican Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Mexican Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Mexican Life Insurance - Gross Written Premium (MXN Billion), 2011-2020
Figure 10: Mexican Life Insurance - Penetration (%), 2011-2020
Figure 11: Mexican Life Insurance - New Business Direct Written Premium (MXN Billion), 2011-2020
Figure 12: Mexican Life Insurance - Premium per Capita (MXN), 2011-2020
Figure 13: Mexican Life Insurance - Paid Claims (MXN Billion), 2011-2020
Figure 14: Mexican Life Insurance - Total Assets (MXN Billion), 2011-2020
Figure 15: Mexican Life Insurance - Total Investment Income (MXN Billion), 2011-2020
Figure 16: Mexican Life Insurance - Investment Portfolio (MXN Billion), 2011-2020
Figure 17: Mexican Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 18: Mexican Life Insurance - Direct Written Premium by Sub-Segment (MXN Billion), 2011-2020
Figure 19: Mexican Life Insurance - Direct Written Premium Share by Sub-Segment, 2011-2020
Figure 20: Mexican Life Insurance - Direct Written Premium Dynamics by Sub-Segment, 2011-2020
Figure 21: Mexican Individual Life Insurance - Direct Written Premium by Category (MXN Billion), 2011-2020
Figure 22: Mexican Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 23: Mexican Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 24: Mexican Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2020
Figure 25: Mexican Individual Life Insurance - Penetration (%), 2011-2015
Figure 26: Mexican Individual Life Insurance - Penetration (%), 2015-2020
Figure 27: Mexican Group Life Insurance - Direct Written Premium by Category (MXN Billion), 2011-2020
Figure 28: Mexican Group Life Insurance - Direct Written Premium Dynamics by Category (MXN Billion), 2011-2020
Figure 29: Mexican Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2020
Figure 30: Mexican Group Life Insurance - Penetration (%), 2011-2015
Figure 31: Mexican Group Life Insurance - Penetration (%), 2015-2020
Figure 32: Mexican Life Insurance - New Business Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 33: Mexican Insurance Industry - Market Shares of Leading Insurers (%), 2014
Figure 34: Mexico - Insurance Supervision and Control at Various Levels
Figure 35: Mexico - Insurance Regulatory Frameworks for Company Registration and Operation
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  • Metlife México, SA
  • Seguros Banamex SA de CV
  • Grupo Nacional Provincial SAB
  • Seguros Monterrey New York Life SA de CV
  • Seguros BBVA Bancomer SA de CV
  • Axa Seguros SA de CV
  • Seguros Banorte SA de CV
  • Allianz México SA Compañía de Seguros
  • Seguros Inbursa SA Grupo Financiero Inbursa
  • Zurich Santander Seguros México SA
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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