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Condusef: 4 Mexican insurers fail transparency test in retirement savings product

One-thirdof the insurers evaluated by Mexican financial consumer protection agency Conduseffailed to offer financial transparency in policies offering retirement savings insurance,Condusef said in a statement April 12.

Of the12 firms the agency reviewed, the four that failed were: MetLife México S.A., Allianz de México, and .

Metlifefailed because it did not provide the agency with information on time and was givena grade of zero out of 10. The others that failed received grades between2.0 and 4.4.

Condusefreviewed conditions including the policy, payment receipts, account statements andthe information available on the firm's website.

received the bestrating with 9.2, followed by MapfreTepeyac S.A. and AXA SegurosS.A. de C.V. with 8.9 and 8.4, respectively.