Insurers in Mexico paid 522,000 million pesos in claims last year, which meant 1,430 MDP every day, according to the president of the Mexican Association of Insurance Institutions (Amis), Pedro Pacheco.
“The Mexican insurance sector has fulfilled payments in the three major markets we have, which are those of families, companies and the government,” said the inauguration of the Amis Insurers Convention, according to a statement.
He said that in 2023, insurers attended more than 4.6 million people, of which 2.6 million corresponded to accidents related to accidents and diseases.
Pacheco stressed that the number of policies for accidents and diseases grew from 15 million in 2000 to 45 million.
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“Every day the insurance penetration is greater, we can also see it as a percentage of GDP: in the last 30 years, we go from just over 1% of GDP to the current 2.64%,” Pacheco added.
He indicated that the Amis works on a product that allows expanding assurance in the country, especially in older adults.
“We have been working to generate a product that does not allow access to all hospitals and all costs, but it is a universal product, with accessibility for most people, and that allows access to good level hospitals with reasonable coverage,” he explained.
The statement added that Héctor Santana, head of the Insurance, Pensions and Social Security Unit of the Treasury, said the industry in Mexico is solid and has challenges such as the creation of products to expand the assurance to more vulnerable populations.
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Projections for 2025
The Amis explained that according to one of her surveys the industry is expected to grow this year 8.4% in real terms. The greatest dynamism is expected in the life operation, followed by accidents and diseases and cars.
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