The insurance industry in Mexico has been witnessing a steady growth and the distribution fees charged by insurance agents and brokers have also been on the rise.
Analyzing the intermediation fees market share of the top insurers in Mexico, Grupo Nacional Provincial continues to hold the top position, with a market share of 20.96% in 2022, slightly higher than 20.47% in 2021. Metlife México and AXA Seguros have also been performing well, with market shares of 14.6% and 10.9% respectively in 2022.
It is interesting to note that the top three insurers in Mexico continue to maintain their market dominance, and their combined market share in intermediation fees has been consistently above 45% in both 2021 and 2022.
Insurance agents intermediation fees / Direct written premiums*
Insurance agents intermediation charges / Direct written premiums*
* Considering the total volume of insurance commissions, without pensions, sureties or health plans as a percentage of total intermediated and non-intermediated premiums.