Mexico

Introduction: 

Mexico is a federal republic with a population of over 118 million. Its currency is the Mexican Peso. The Mexican economy is Latin America’s second biggest after Brazil and it is strongly linked to the economy of the U.S.A. via the North America Free Trade Agreement (NAFTA).

The life insurance segment is highly competitive with 46 insurance companies in operation Its growth is driven by a growing middle-class population and its demand for savings and protection insurance products. Mexican regulators are applying the new Solvency requirements to the insurance industry taking cues from the European Solvency II norms.

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