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Life Insurance in Mexico, Key Trends and Opportunities to 2020

Synopsis

Timetric’s '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 Timetric’s 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

Timetric’s '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.


  • Key Facts and Highlights
    • Table Mexican Life Insurance - Key Facts, 2015
    • Table Mexican Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Mexican Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Mexican Life Insurance - Gross Written Premium (MXN Billion and US$ Billion), 2011-2015
        • Table Mexican Life Insurance - Penetration (%), 2011-2015
        • Table Mexican Life Insurance - Gross Written Premium (MXN Billion and US$ Billion), 2015-2020
        • Table Mexican Life Insurance - Penetration (%), 2015-2020
        • Table Mexican Life Insurance - New Business Direct Written Premium (MXN Billion and US$ Billion), 2011-2015
        • Table Mexican Life Insurance - New Business Direct Written Premium (MXN Billion and US$ Billion), 2015-2020
        • Table Mexican Life Insurance - Premium per Capita (MXN and US$), 2011-2015
        • Table Mexican Life Insurance - Premium per Capita (MXN and US$), 2015-2020
      • Claims
        • Table Mexican Life Insurance - Paid Claims (MXN Billion and US$ Billion), 2011-2015
        • Table Mexican Life Insurance - Paid Claims (MXN Billion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Mexican Life Insurance - Total Assets (MXN Billion and US$ Billion), 2011-2015
        • Table Mexican Life Insurance - Total Assets (MXN Billion and US$ Billion), 2015-2020
        • Table Mexican Life Insurance - Total Investment Income (MXN Billion and US$ Billion), 2011-2015
        • Table Mexican Life Insurance - Total Investment Income (MXN Billion and US$ Billion), 2015-2020
        • Table Mexican Life Insurance - Investment Portfolio (MXN Billion), 2011-2015
        • Table Mexican Life Insurance - Investment Portfolio (MXN Billion), 2015-2020
  • Outlook by Sub-Segment
    • Table Mexican Life Insurance - Direct Written Premium by Sub-Segment (MXN Billion),2011-2015
    • Table Mexican Life Insurance - Direct Written Premium by Sub-Segment (MXN Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Mexican Individual Life Insurance - Direct Written Premium by Category (MXN Billion), 2011-2015
        • Table Mexican Individual Life Insurance - Direct Written Premium by Category (MXN Billion), 2015-2020
      • Policies sold
        • Table Mexican Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Mexican Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Mexican Group Life Insurance - Direct Written Premium by Category (MXN Billion), 2011-2015
        • Table Mexican Group Life Insurance - Direct Written Premium by Category (MXN Billion), 2015-2020
      • Policies sold
        • Table Mexican Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Mexican Group Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Mexican Life Insurance - New Business Direct Written Premium by Distribution Channel (MXN Billion), 2011-2015
      • Table Mexican Life Insurance - New Business Direct Written Premium by Distribution Channel (MXN Billion), 2015-2020
      • Table Mexican Life Insurance - Percentage of New Business Direct Written Premium, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Table Mexican Insurance Industry - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • MetLife Mexico, SA - company overview
        • Table MetLife Mexico, SA - Key Facts
        • Table MetLife Mexico, SA - Key Financials (MXN Billion), 2011-2015
      • Seguros Banamex, SA de CV - company overview
        • Table Seguros Banamex, SA de CV - Key Facts
        • Table Seguros Banamex, SA de CV - Key Financials (MXN Billion), 2011-2015
      • Grupo Nacional Provincial, SAB - company overview
        • Table Grupo Nacional Provincial, SAB - Key Facts
        • Table Grupo Nacional Provincial, SAB - Key Financials (MXN Billion), 2011-2015
      • Seguros Monterrey New York Life, SA de CV - company overview
        • Table Seguros Monterrey New York Life - Key Facts
        • Table Seguros Monterrey New York Life - Key Financials (MXN Billion), 2011-2015
      • Seguros BBVA Bancomer SA de CV - company overview
        • Table Seguros BBVA Bancomer SA de CV - Key Facts
        • Table Seguros BBVA Bancomer SA de CV - Key Financials (MXN Billion), 2011-2015
      • Axa Seguros SA de CV - company overview
        • Table Axa Seguros SA de CV - Key Facts
        • Table Axa Seguros SA de CV - Key Financials (MXN Billion), 2011-2015
      • Seguros Banorte Generali, SA de CV - company overview
        • Table Seguros Banorte Generali, SA de CV - Key Facts
        • Table Seguros Banorte Generali, SA de CV - Key Financials (MXN Billion), 2011-2015
      • Allianz Mexico, SA, Compania de Seguros - company overview
        • Table Allianz Mexico, SA, Compania de Seguros - Key Facts
        • Table Allianz Mexico, SA, Compania de Seguros - Key Financials (MXN Billion), 2011-2015
      • Seguros Inbursa, SA, Grupo Financiero Inbursa - company overview
        • Table Seguros Inbursa, SA, Grupo Financiero Inbursa - Key Facts
        • Table Seguros Inbursa, SA, Grupo Financiero Inbursa - Key Financials (MXN Billion), 2011-2015
      • Zurich Santander Seguros Mexico, SA - company overview
        • Table Seguros Inbursa, SA, Grupo Financiero Inbursa - Key Facts
  • Governance, Risk and Compliance
    • Table Mexico - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Mexico - Life Insurance Regulatory Framework
      • Property insurance
        • Table Mexico - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Mexico - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Mexico - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Workers' compensation insurance
      • Motor third-party liability insurance
        • Table Mexico - Implementation of Mandatory Motor Third-Party Liability Insurance
      • Social security insurance
      • Liability for ships with respect to oil pollution
      • Liability insurance in respect of transportation of dangerous or toxic substances
      • Errors and omission insurance for bonding agents
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Association of Insurance Supervisors Latin America
      • Secretaria de Hacienda y Credito Publico
      • Comisión Nacional de Seguros y Fianzas
      • Association of Mexican Insurance Companies
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxations
      • Withholding taxes on premium paid overseas.
      • Corporate tax
        • Table Mexico - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Mexican Life Insurance - Policies and Premium, 2011-2015
      • Table Mexican Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Mexican Life Insurance - Claims and Expenses, 2011-2015
      • Table Mexican Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Mexican Life Insurance - Assets and Investments, 2011-2015
      • Table Mexican Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Mexican Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Mexican Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Mexican Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Mexican Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Mexican Life Insurance - Bancassurance and Other Distribution Channels, 2011-2015
      • Table Mexican Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
    • Individual Life Insurance
      • Table Mexican Life Insurance - Individual Life Insurance, 2011-2015
      • Table Mexican Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Mexican Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Mexican Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Mexican Life Insurance - Group Life Insurance, 2011-2015
      • Table Mexican Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Mexican Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Mexican Life Insurance - Group Life Insurance by Product, 2015-2020
    • Individual Life - Single vs Non-Single Premium
      • Table Mexican Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Mexican Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Group Life - Single vs Non-Single Premium
      • Table Mexican Life Insurance - Group Life Insurance by Premium, 2011-2015
      • Table Mexican Life Insurance - Group Life Insurance by Premium, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Mexican Life Insurance - Linked vs Non-Linked Policies, 2011-2015
      • Table Mexican Life Insurance - Linked vs Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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