Forecast: Total Insurance Expenditure in Mexico

The total insurance expenditure in Mexico, measured in units of GDP, has shown a consistent upward trend over the past decade. Starting at 2.1 in 2013, there has been a gradual increase, reaching 2.67 in 2023. Key year-on-year variations indicate moderate growth with 1.45% in 2023. The compounded annual growth rate (CAGR) for the last five years is 3.23%, reflecting steady but moderate growth in the insurance sector.

Looking ahead, the forecast data suggests continued growth, albeit at a slightly reduced pace, with a forecasted 5-year CAGR of 1.09%, showing a forecasted total growth of 5.59% by 2028. The projected insurance expenditure in 2028 is anticipated to reach 2.85 units of GDP, indicating a continued moderate upward trend.

Future trends to watch for:

• Technological advances driving digital insurance services.
• Economic factors impacting disposable income and insurance demand.
• Regulatory changes affecting the insurance market landscape.
• Shift towards health and life insurance products amid increasing awareness.