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World InsuranceThe Evolution of a Global Risk Network$
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Peter Borscheid and Niels Viggo Haueter

Print publication date: 2012

Print ISBN-13: 9780199657964

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780199657964.001.0001

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Mexico: A History of The Insurance Industry in Mexico

Mexico: A History of The Insurance Industry in Mexico

Chapter:
(p.599) Chapter 26 Mexico: A History of The Insurance Industry in Mexico
Source:
World Insurance
Author(s):

Gustavo A. del Angel

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199657964.003.0026

Although Mexico is the second national market in Latin America, with one of the highest rates of economic growth since 1995, insurance penetration is below the average for the region, standing in 2010 at 1.9 per cent of the country's GDP. The low penetration of insurance is explained by both the nature of Mexico as a nation and market and the specific development of the insurance industry in the country. This chapter traces the history of the Mexican insurance industry. It discusses the origins of the insurance industry in Mexico from the end of the nineteenth century until the changes resulting from the revolution of 1910; the departure of various companies from the country in the face of the protectionist measures imposed by the government; the development of a local industrial sector, protected from external competition; and finally, the liberalization process which began in 1990 and which culminated in the strong presence of global companies in Mexico.

Keywords:   Mexican insurance industry, insurance history, insurance companies, protectionism, economic policy, liberalization

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