Forecast: Production Volumes of Insurance, Reinsurance and Pension Funding in Mexico

The production volumes of insurance, reinsurance, and pension funding in Mexico have displayed significant fluctuations over the past decade. From 2013 to 2018, the industry experienced a general upward trend, marked by notable spikes such as a 23.91% year-on-year increase in 2016 and a 19.8% increase in 2018. However, there were some setbacks, with a 10.27% decline in 2017 and marginal decreases in both 2014 and 2020. By 2023, the value stood at 325.97 billion Mexican Pesos, reflecting a relatively modest year-on-year growth of 3.34%.

The Compound Annual Growth Rate (CAGR) indicates that over the last five years, the industry has grown at an average annual rate of 3.09%. Looking into the future, from 2024 to 2028, the industry is forecasted to grow at a slower pace, with a projected CAGR of 2.47%, and an overall growth rate of 12.96% for the period.

Future trends to watch for include:

- Digital transformation in the insurance sector. - The rise of insurtech companies. - Increasing demand for personalized and flexible insurance products. - Potential regulatory changes aimed at enhancing market stability and consumer protection.