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Mexico Insurance Business - Mexico is quickly emerging as a key market for U.S. companies largely due to the opportunities for foreign investors and improving regulatory oversight. Generating more than 25 percent of the total premiums in the region, Mexico is the second-largest insurance market in Latin America, behind Brazil.
Currently, 3 foreign and 2 Mexican insurance companies that comprise almost 59 percent of the market dominate the insurance market in Mexico. Yet insurance has experienced low penetration in Mexico, representing only 2 percent of the total GDP of Mexico, much smaller than the insurance market in the United States as well as other Latin American countries such as Brazil, Chile and even Colombia.
Nevertheless, small niches of insurance products, such as educational, transportation and natural hazard products exist in this growing market and offer substantive opportunities for U.S. firms. |
