Life Insurance in Mexico, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-18 12:37:03
Life insurance was the largest segment in the Mexican insurance industry in 2012, accounting for 46.0% of the industry´s written premiums. Led by sustained economic growth and favorable demographics, the segment expanded at a review-period CAGR of 10.2%, increasing from MXN92.7 billion (US$8.4 billion) in 2008 to MXN136.6 billion (US$10.4 billion) in 2012. This growth was higher than the average GDP growth of 1.7% during the review period (2008â2012).
Bancassurance was the most popular channel for distributing pension products and other savings-type life insurance products with post-retirement benefits in 2012. Sustainable GDP growth, the growing middle-class population, increased foreign participation and product development will lead to a rise in awareness and demand for life insurance products. There is also a perceived need for innovation in both product design and distribution.
From the diverse range of life insurance products, the pension and endowment categories registered the highest CAGRs of 23.6% and 16.6% respectively during the review period. International players have positioned themselves well in the industry to benefit from the segment´s growth with 58 companies out of 103 having foreign ownership. Mexico is the second-largest insurance industry in Latin America, accounting for 14.5% of the insurance industry total premiums in the region.
Click for report details: www.companiesandmarkets.com/Market/Finance-and-Banking/Market-Re ..
Browse all Finance and Banking Market Research Reports www.companiesandmarkets.com/Market/Finance-and-Banking/Market-Re ..
Browse all Finance and Banking Company Profile Reports www.companiesandmarkets.com/Market/Finance-and-Banking/Company-P ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.