trending Market Intelligence /marketintelligence/en/news-insights/trending/kxsvdli34qimmrtt8thrfa2 content esgSubNav
In This List

Fitch: Mexican insurance sector to grow by up to 12% this year

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Fitch: Mexican insurance sector to grow by up to 12% this year

Mexico's insurance sector should see a nominal growth of between 10% and 12% this year in terms of new policies as the economy improves, El Economista reported, citing analysts at Fitch Ratings.

An increase in infrastructure development as well as an increase in credit will boost growth of the country's insurance sector, according to Eugenia Martínez, a director at Fitch.

Products in the life, car, and pension segments are expected to see the strongest performance. Growth of the insurance sector goes hand-in-hand with GDP growth, which Fitch estimates at 2.2% this year for Mexico.

Implementation of the regulatory framework Solvency II has also helped to improve the sector's capitalization and reserves, the rating agency noted.