Reinsurance in Mexico, Trends and Opportunities to 2016: High Frequency of Natural Disasters Drives Demand for Reinsurance

Date: February 10, 2012
Pages: 116
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US$ 1,950.00
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Publisher: Timetric
Report type: Strategic Report
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ID: RB7839C721FEN
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Reinsurance in Mexico, Trends and Opportunities to 2016: High Frequency of Natural Disasters Drives Demand for Reinsurance
Synopsis

The report provides top-level market analysis, information and insights into the Mexican reinsurance market, including:
  • The Mexican reinsurance market’s growth prospects by reinsurance categories
  • The Mexican reinsurance market’s growth prospects by reinsurance ceded from direct insurance segments
  • The competitive landscape in the Mexican reinsurance insurance market
Summary

As the second-largest market in Latin America, the insurance market in Mexico has created significant reinsurance opportunities, especially for foreign reinsurers. Mexico is the largest property and casualty reinsurance market in the Latin American region. As well as the growing direct insurance market, the key drivers for the Mexican reinsurance market are Mexico’s exposure to natural disasters, favorable regulations that penalize risk retention, the presence of large government and corporate risks, and the absence of limits on inter-group cession.

Scope

This report provides a comprehensive analysis of the reinsurance market in Mexico:
  • It provides historical values for Mexico’s reinsurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
  • It offers a detailed analysis of the key sub-segments in Mexico’s reinsurance market, along with market forecasts until 2016
  • It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in Mexico and its growth prospects
  • It profiles the top reinsurance companies in Mexico
Reasons To Buy
  • Make strategic business decisions using top-level historic and forecast market data related to the Mexican reinsurance market and each sector within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Mexican reinsurance market
  • Assess the competitive dynamics in the reinsurance market
  • Identify the growth opportunities and market dynamics within key product categories
Key Highlights
  • The key drivers for the Mexican reinsurance market are Mexico’s exposure to natural disasters, favorable regulations that penalize risk retention, the presence of large government and corporate risks, and the absence of limits on inter-group cession
  • There are 397 foreign reinsurance companies registered in the General Registry of Foreign Reinsurance Companies, and therefore are authorized to take reinsurance from Mexican insurers
  • Mexico is a region prone to natural disasters such as earthquakes and hurricanes, as a result of which demand for property and casualty insurance and reinsurance is relatively high
  • Despite the openness of the Mexican reinsurance market to foreign reinsurers, there is a belief that Mexican courts tend to favor local insurers over foreign operators in the event of a dispute, particularly as reinsurance contracts with Mexican cedants must be governed by Mexican law and subject to the jurisdiction of the Mexican courts
  • There are four major reinsurance companies operating in the Mexican reinsurance market, which includes both public and private entities. Allianz México, which is the largest reinsurance company in Mexico, holds the largest market share in the Mexican reinsurance industry. Other leading reinsurance companies include Royal and SunAlliance Seguros (México), Metropolitana Compania de Seguros and Metlife México Servicios
1 EXECUTIVE SUMMARY

2 INTRODUCTION

2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 MEXICO INSURANCE INDUSTRY ATTRACTIVENESS

3.1 Insurance Industry Market Size, 2007–2016
3.2 Reinsurance Growth Dynamics and Challenges
  3.2.1 Reinsurance market size, 2007–2016
  3.2.2 Reinsurance Market Size by Type of Insurance, 2007–2016

4 KEY INDUSTRY TRENDS AND DRIVERS

4.1 Fundamental Business Drivers
4.2 Life Insurance Segment Drivers
4.3 Non-Life Insurance Segment Drivers
4.4 Personal Accident and Health Insurance Segment Drivers

5 COMPETITIVE LANDSCAPE AND STRATEGIC INSIGHTS

5.1 Overview
5.2 Leading Companies in the Mexican Reinsurance Market
5.3 Royal and SunAlliance Seguros (México), SA de CV – Company Overview
  5.3.1 Royal and SunAlliance Seguros (México), SA de CV – key facts
  5.3.2 Royal and SunAlliance Seguros (México), SA de CV – main products
  5.3.3 Royal and SunAlliance Seguros (México), SA de CV – main competitors
  5.3.4 Royal and SunAlliance Seguros (México), SA de CV – key employees
5.4 Allianz México – Company Overview
  5.4.1 Allianz México – key facts
  5.4.2 Allianz México – main products
  5.4.3 Allianz México – main competitors
5.5 Metlife México SA – Company Overview
  5.5.1 Metlife México SA – key facts
  5.5.2 Metlife México SA – main products
  5.5.3 Metlife México SA – main competitors
  5.5.4 Metlife México SA – key employees

6 BUSINESS ENVIRONMENT AND COUNTRY RISK

6.1 Business Confidence
  6.1.1 Business confidence indicator
  6.1.2 Market capitalization trend – Mexican Exchange, Mexico
  6.1.3 FDI inflows by sector
  6.1.4 Deployment of credit
6.2 Economic Performance
  6.2.1 GDP at constant prices (US dollars)
  6.2.2 GDP per capita at constant prices (US dollars)
  6.2.3 GDP at current prices (US dollars)
  6.2.4 GDP per capita at current prices (US dollars)
  6.2.5 GDP by key sectors
  6.2.6 Agriculture net output at current prices (Mexican pesos)
  6.2.7 Agriculture net output at current prices (US dollars)
  6.2.8 Agriculture net output at current prices as a percentage of GDP
  6.2.9 Manufacturing net output at current prices (Mexican peso)
  6.2.10 Manufacturing net output at current prices (US dollars)
  6.2.11 Manufacturing net output at current prices as a percentage of GDP
  6.2.12 Mining, manufacturing and utilities net output at current prices (Mexican pesos)
  6.2.13 Mining, manufacturing and utilities at current prices (US dollars)
  6.2.14 Mining, manufacturing and utilities at current prices as a percentage of GDP
  6.2.15 Construction net output at current prices (Mexican pesos)
  6.2.16 Construction net output at current prices (US dollars)
  6.2.17 Construction net output at current prices as a percentage of GDP
  6.2.18 Crude steel production
  6.2.19 Crude oil consumption
  6.2.20 Inflation rate
  6.2.21 Fiscal balance as a percentage of GDP
  6.2.22 Current account balance as a percentage of GDP
  6.2.23 Exports as a percentage of GDP
  6.2.24 Imports as a percentage of GDP
  6.2.25 Exports growth
  6.2.26 Imports growth
  6.2.27 External debt as a percentage of GDP
  6.2.28 Annual average exchange rate US$–MXN
  6.2.29 End-of-period exchange rate US$–MXN
  6.2.30 Debt service ratio
6.3 Infrastructure Quality and Availability
  6.3.1 Total airports and sea ports
  6.3.2 Railways and roadways
  6.3.3 Passenger vehicle production volume
  6.3.4 Commercial vehicle production volume
  6.3.5 Automotive components exports
  6.3.6 Automotive components imports
  6.3.7 Passenger car penetration
  6.3.8 Total installed capacity for electricity generation
  6.3.9 Installed capacity for the generation of conventional thermal electricity
  6.3.10 Electricity production
  6.3.11 Installed capacity for the generation of hydroelectricity
  6.3.12 Installed capacity for renewable electricity generation
  6.3.13 Electricity consumption
  6.3.14 Electricity exports
  6.3.15 Electricity imports
  6.3.16 Healthcare expenditure
  6.3.17 Healthcare expenditure as a percentage of GDP
  6.3.18 Healthcare expenditure per capita
  6.3.19 Total internet subscribers
  6.3.20 Broadband internet subscribers
  6.3.21 Personal computer penetration rate
  6.3.22 Mobile phone penetration rate
6.4 Labor Force
  6.4.1 Labor force
  6.4.2 Unemployment rate
6.5 Demographics
  6.5.1 Annual disposable income
  6.5.2 Annual per capita disposable income
  6.5.3 Annual consumer expenditure on food
  6.5.4 Annual per capita consumer expenditure on food
  6.5.5 Urban and rural population
  6.5.6 Female percentage of population
  6.5.7 Male percentage of population
  6.5.8 Mean age of population
  6.5.9 Median age of population
  6.5.10 Population density
  6.5.11 Age distribution of the total population
  6.5.12 Age distribution of the male population
  6.5.13 Age distribution of the female population
  6.5.14 Number of households
6.6 Political and Social Risk
  6.6.1 Political stability
  6.6.2 Terrorism Index
  6.6.3 Transparency index

7 APPENDIX

7.1 Methodology
7.2 Contact Us
7.3 About Timetric
7.4 Disclaimer

LIST OF TABLES

Table 1: Insurance Industry Definitions
Table 2: Mexican Insurance – Overall Written Premium by Segment (MXN Billion), 2007–2011
Table 3: Mexican Insurance – Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: Mexican Insurance – Overall Written Premium by Segment (MXN Billion), 2011–2016
Table 5: Mexican Insurance – Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: Mexican Insurance – Segmentation (% Share), 2007–2016
Table 7: Reinsurance Market in Mexico by Category (MXN Billion), 2007–2011
Table 8: Reinsurance Market in Mexico by Category (US$ Billion), 2007–2011
Table 9: Reinsurance Market in Mexico by Category (MXN Billion), 2011–2016
Table 10: Reinsurance Market in Mexico by Category (US$ Billion), 2011–2016
Table 11: Reinsurance Ceded by Type of Insurance (MXN Billion), 2007–2011
Table 12: Reinsurance Ceded by Type of Insurance (US$ Billion), 2007–2011
Table 13: Reinsurance Ceded by Type of Insurance (MXN Billion), 2011–2016
Table 14: Reinsurance Ceded by Type of Insurance (US$ Billion), 2011–2016
Table 15: Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 16: Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 17: Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Table 18: Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Table 19: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 20: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 21: Major Companies Operating in the Mexican Reinsurance Market, 2010
Table 22: Royal and SunAlliance Seguros (México), SA de CV, Key Facts
Table 23: Royal and SunAlliance Seguros (México), SA de CV, Main Products
Table 24: Royal and SunAlliance Seguros (México), SA de CV, Key Employees
Table 25: Allianz México, Key Facts
Table 26: Allianz México, Main Products
Table 27: Metlife México SA, Key Facts
Table 28: Metlife México SA, Main Products
Table 29: Metlife México SA, Key Employees

LIST OF FIGURES

Figure 1: Mexican Insurance Overall Written Premium by Segment (MXN Billion), 2007–2016
Figure 2: Mexican Insurance – Market Dynamics by Segment, 2007–2016
Figure 3: Premium Ceded to Reinsurance by Category (MXN Billion), 2007–2016
Figure 4: Reinsurance Premium Share by Category, 2011 and 2016
Figure 5: Reinsurance Market Dynamics by Category, 2007–2016
Figure 6: Reinsurance Ceded by Type of Insurance (MXN Billion), 2007–2016
Figure 7: Reinsurance Market Dynamics by Type of Insurance, 2007–2016
Figure 8: Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 9: Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 10: Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Figure 11: Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Figure 12: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 13: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 14: Mexican Business Confidence Indicator, Q1 2008–Q1 2010
Figure 15: Mexican Exchange Market Capitalization (US$ Billion), 2007–2010
Figure 16: Mexican FDI Inflows by Sector (US$ Billion), 2003–2009
Figure 17: Mexican Deployment of Credit (US$ Billion), 2003–2009
Figure 18: Mexican GDP at Constant Prices (US$ Billion), 2007–2016
Figure 19: Mexican GDP Per Capita at Constant Prices (US$), 2007–2016
Figure 20: Mexican GDP at Current Prices (US$ Billion), 2007–2016
Figure 21: Mexican GDP per Capita at Current Prices (US$), 2007–2016
Figure 22: Mexican GDP by Key Sector (%) 2003 and 2009
Figure 23: Mexican Agricultural Net Output at Current Prices (MXN Billion), 2007–2016
Figure 24: Mexican Agricultural Net Output at Current Prices (US$ Billion), 2007–2016
Figure 25: Mexican Agriculture Net Output at Current Prices as a Percentage of GDP (%), 2007–2016
Figure 26: Mexican Manufacturing Net Output at Current Prices (MXN Billion), 2007–2016
Figure 27: Mexican Manufacturing Net Output at Current Prices (US$ Billion), 2007–2016
Figure 28: Mexican Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2016
Figure 29: Mexican Mining, Manufacturing and Utilities Net Output at Current Prices (MXN Billion), 2007–16
Figure 30: Mexican Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2016
Figure 31: Mexican Mining, Manufacturing and Utilities Net Output at Current Prices as a percentage of GDP (%), 2007–2016
Figure 32: Mexican Construction Net Output at Current Prices (MXN Billion), 2007–2016
Figure 33: Mexican Construction Net Output at Current Prices (US$ Billion), 2007–2016
Figure 34: Mexican Construction Output at Current Prices as a Percentage of GDP (%), 2007–2016
Figure 35: Mexican Crude Steel Production (‘000 Tons), 2007–2016
Figure 36: Mexican Crude Oil Consumption (Million Tons), 2007–2016
Figure 37: Mexican Inflation Rate (%), 2007–2016
Figure 38: Mexican Fiscal Balance as a Percentage of GDP (%), 2007–2010
Figure 39: Mexican Current Account Balance as a Percentage of GDP (%), 2007–2016
Figure 40: Mexican Exports as a Percentage of GDP (%), 2007–2016
Figure 41: Mexican Imports as a Percentage of GDP (%), 2007–2016
Figure 42: Mexican Exports Growth (%), 2007–2016
Figure 43: Mexican Imports Growth (%), 2007–2016
Figure 44: Mexican External Debt as a Percentage of GDP (%), 2007–2010
Figure 45: Mexican Annual Average Exchange Rate US$–MXN, 2007–2010
Figure 46: Mexican End-of-Period Exchange Rate US$–MXN, 2007–2010
Figure 47: Mexican Debt Service Ratio, 2007–2010
Figure 48: Mexican Airports and Sea Ports, 2010
Figure 49: Mexican Railways and Roadways (Kilometers), 2011
Figure 50: Mexican Passenger Vehicle Production (Units), 2007–2016
Figure 51: Mexican Commercial Vehicle Production (Units), 2007–2016
Figure 52: Mexican Automotive Component Exports (US$ Million), 2007–2016
Figure 53: Mexican Automotive Component Imports (US$ Billion), 2007–2016
Figure 54: Mexican Passenger Car Penetration (per Thousand People), 2007–2016
Figure 55: Mexican Total Installed Capacity for Electricity Generation (Million Kilowatts), 2007–2016
Figure 56: Mexican Installed Capacity for the Generation of Conventional Thermal Electricity (Million Kilowatts), 2007–2016
Figure 57: Mexican Electricity Production (Billion Kilowatt Hours), 2007–2016
Figure 58: Mexican Installed Capacity for the Generation of Hydroelectricity (Million Kilowatts), 2007–2016
Figure 59: Mexican Installed Capacity for the Generation of Renewable Electricity (Million Kilowatts), 2007–2016
Figure 60: Mexican Electricity Consumption (Billion Kilowatt Hours), 2007–2016
Figure 61: Mexican Electricity Exports (Million Kilowatt Hours), 2007–2016
Figure 62: Mexican Electricity Imports (Million Kilowatt Hours), 2007–2016
Figure 63: Mexican Healthcare Expenditure (US$ Billion), 2007–2016
Figure 64: Mexican Healthcare Expenditure as a Percentage of GDP (%), 2007–2016
Figure 65: Mexican Healthcare Expenditure per Capita (US$), 2007–2016
Figure 66: Mexican Internet Subscriptions (Thousands), 2007–2016
Figure 67: Mexican Broadband Internet Subscriptions (’000), 2007–2016
Figure 68: Mexican Personal Computer Penetration Rate (per Hundred People), 2007–2016
Figure 69: Mexican Mobile Phone Penetration (%), 2007–2016
Figure 70: Mexican Size of Labor Force Aged 15–59 (Million), 2007–2016
Figure 71: Mexican Unemployment Rate (%), 2007–2016
Figure 72: Mexican Annual Disposable Income (US$ Billion), 2007–2016
Figure 73: Mexican Annual per Capita Disposable Income (US$), 2007–2016
Figure 74: Mexican Consumer Expenditure on Food (US$ Billion), 2007–2016
Figure 75: Mexican Annual per Capita Consumer Expenditure on Food (US$), 2007–2016
Figure 76: Mexican Urban and Rural Populations (%), 2007–2016
Figure 77: Mexican Females as Percentage of the Population (%), 2007–2016
Figure 78: Mexican Males as a Percentage of the Population (%), 2007–2016
Figure 79: Mexican Mean Age of Population (Years), 2007–2016
Figure 80: Mexican Median Age of Population (Years), 2007–2016
Figure 81: Mexican Population Density (per Square Kilometer), 2007–2016
Figure 82: Mexican Population Distribution by Age (%), 2007–2016
Figure 83: Mexican Male Population Distribution by Age (%), 2007–2016
Figure 84: Mexican Female Population Distribution by Age (%), 2007–2016
Figure 85: Mexico – Number of Households (Million), 2007–2016
Figure 86: Global Terrorism Heat Map
Figure 87: Mexican Transparency Index, 2004–2010

COMPANIES MENTIONED

Allianz México
Royal and SunAlliance Seguros
Metlife México Servicios
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