Mexico

Axco provides details on the life insurance sector including Mexican market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Mexico, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Mexican pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Mexico report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

In terms of global rankings, Mexico ranked 59th in the world in 2019 for life insurance penetration: penetration is lower than some other countries in the region, such as Colombia and Puerto Rico, but higher than others such as Brazil.

Life insurance premiums (excluding PA & healthcare) grew by 11.55% in 2019. Group premium represents 23% of total premium, individual 67%, and "other" 10%. AMIS predicts ....

The pension system is comprised of three pillars: the first pillar universal pension - mandatory contributions to individual pension accounts on a defined contribution (DC) basis managed by private pension fund administrators (AFOREs), second pillar - contributions to an occupational pension plan, most commonly available to executives and managers, and third pillar - savings plans that can be used to provide for retirement ....

In terms of global rankings, Mexico ranked 57th in the world in 2019 for PA and healthcare penetration.

PA and healthcare premiums grew by 7.87% in 2019, following good growth in the previous two years: 11.57% in 2018 and 9.80% in 2017. PA and healthcare is an important segment of the market, representing 15.44% of total premium in 2019.

There are two main types of cover: medical expenses and ....