Just Published: "Mexico Insurance Report Q2 2016".
[ClickPress, Wed Apr 27 2016]
We have made some forecast adjustments this quarter to adjust for the peso currency fluctuations against the US dollar. We hold a strong and positive outlook for the Mexican insurance industr y as a whole for 2016 and over the course of our forecast period to 2020 . We believe that both the life and non-life segments will grow on par in 2016. Beyond that, the non-life sector will outpace growth in the life sector. In 2016, we are expecting total Mexico insurance industry premiums of MXN379bn y-o-y growth of 6.7% (USD23.4bn, up 4.4% y - o - y). Out to 2020, we believe that premiums will reach MXN487.5bn (USD32.5bn). In the medium term, we envisage strong growth rates in both sectors being pri marily driven by a strong economy, a robust manufacturing and services sector and growing household income and disposable discretionary spending powers.
Full Report Details at
We have revised our outlook for the Mexican insurance sector in the Q2 2016 report update. We hold a positive outlook for the Mexican insurance industry as a whole for 2016 and beyond, over the course of our forecast period out to 2020. We believe that the strongest growth in 2016 and over the forecast period will come from the life insurance sector. The life insurance sector is set to grow by 4.4% in dollar terms in 2016 and the non-life sector will grow by 4.4% this year. Premiums will reach USD10.4bn and USD12.9bn respectively. Over the medium term, we forecast the growth rate to slow down slightly, but we still anticipate strong single digit growth in both sectors, both primarily driven by a strong economy, a robust manufacturing and services sector and growing household income and disposable discretionary spending powers.
Key Updates And Forecasts
The Mexican insurance sector as a whole is now forecasted to grow strongly at an average annual pace of 6.7% in local currency terms and 4.4% in US dollar terms forward 2016.
The life insurance sector will be a strong engine of growth with US dollar growth in 2016 totalling 4.4% and premiums topping USD10bn. We see little to derail growth over the course of our forecast period in dollar terms and local currency. Currency fluctuations will dampen dollar denominated growth this year but we anticipate the currency to stabilize in the later years of our forecast.
We see strong growth prospects in 2016 and beyond for the non-life sector as well. The non-life sector will grow by 4.4% in 2016 and by 6.7% in local currency terms with premiums topping USD13.0bn and MXN210bn this year. Over the course of our forecast period, we estimate stable growth fuelled by high consumption and high spending power in the country to drive forward the non-life sector.
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|Date:||Apr 27, 2016|
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