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

The historical production data for Insurance, Reinsurance, and Pension Funding in Mexico shows fluctuations and a general upward trajectory with some notable dips and peaks. The value stood at 357.07 billion Mexican Pesos in 2023. Between 2013 and 2018, the industry experienced significant growth, particularly in 2016 and 2018 with year-on-year increases of 22% and 19.48%, respectively. There were minor declines in 2014 and 2017, as well as slight drops in 2020. However, the overall trend from 2013 to 2023 shows robust growth culminating in a CAGR of 3.41% in 2023.

Between 2022 and 2023, the sector grew by 3.69%, continuing an upward trend from previous years. Over the last two years, this showcases continuous recovery and expansion.

Looking forward, the forecast data suggests steady growth through to 2028, with expected increases every year, based on a forecast CAGR of 2.7% over the next five years. This implies a forecasted 14.24% growth rate in the period from 2023 to 2028, indicating a healthy and resilient market outlook.

Future trends to watch include the impact of technological advancements on insurance distribution channels, evolving customer needs demanding more personalized products, and regulatory changes potentially influencing market dynamics. Environmental, social, and governance (ESG) factors may also gain traction, influencing investment strategies within the pension funding sector.