High catastrophe risk and foreign capital

Foreign insurers are now heavily involved and influential in the Mexican market, having brought in new capital and expertise. The number of companies in the market has grown from 48 insurers and bonding companies in 1994 to 108 by August 2007. Of these, 52 had majority foreign capital

In August 2007 the Mexican market comprised 94 insurers and 14 bonding companies. Of these, one was state owned, one was a mutual and the remainder were private companies. Among the private insurers no fewer than 52 had majority foreign capital. The seven largest non-life insurers in 2006 accounted for 66.2% of premium income, with the largest, GNP, writing 17.6%, well down from its 22.6% the previous year.