Forecast: Insurance, Reinsurance and Pension Funding Output in Mexico

The insurance, reinsurance, and pension funding sector in Mexico has experienced various fluctuations over the past decade. Starting from a value of 187.5 billion pesos in 2013, the sector saw significant growth with a noticeable peak in 2019 at 341.01 billion pesos. However, it experienced declines in 2020 and 2021, which was likely influenced by the economic impacts of the global pandemic. By 2023, the sector recovered to 369.41 billion pesos, achieving a growth of 2.49% year-on-year. The compound annual growth rate (CAGR) over the last five years (2018-2023) stood at 4.09%.

Future trends to watch for include:

• The forecasted 5-year CAGR from 2024 to 2028 is projected at 3.01%, indicating modest but steady growth.
• The sector is expected to reach a value of 446.62 billion pesos by 2028, marking an overall growth rate of 15.96% over the period.
• Factors such as evolving regulatory landscapes, technological advancements, and shifting consumer behaviors will play crucial roles in shaping the market trajectory.