Boston, MA -- (SBWIRE) -- 09/09/2013 -- 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 (2008-2012). 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.

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Key Highlights

- The Mexican life insurance segment expanded at a CAGR of 10.2% during the review period. The growth was primarily led by strong demand for products with protection and savings components such as pension and endowment
- 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
- Bancassurance was the most popular channel for distributing pension products and other savings-type life insurance products
- Mexico is the second-largest insurance industry in Latin America, accounting for 14.5% of the insurance industry total premiums in the region

Scope

This report provides a comprehensive analysis of the life insurance segment in Mexico:

- It provides historical values for Mexico's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Mexico's life insurance segment, along with forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in Mexico
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Mexico for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Mexico and its growth prospects
- It profiles the top life insurance companies in Mexico and outlines the key regulations affecting them

Reasons to Get This Report

Companies Mentioned in this Report: Metlife Mexico, SA, Seguros Banamex, S.A., Grupo Nacional Provincial, S.A.B., Seguros BBVA Bancomer S.A, Seguros Monterrey New York Life, S.A., AXA Seguros S.A., Zurich Santander Seguros Mexico, S.A., Seguros Inbursa S.A., Grupo Financiero Inbursa, Seguros Banorte Generali S.A., Allianz Mexico, S.A., Compania de Seguros

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