Newsletter: Free reports downloads and rankings. Subscribe today.

Insurance Market in Mexico - 2023.06 Rankings

Insurance Direct written premiums in Mexico
Insurance Direct written premiums in Mexico
At the end of the second quarter of 2023, the volume of insurance premiums issued directly in Mexico reached MX$386.9 billion. This represents a 17.6% year-on-year increase compared to the MX$328 billion achieved by the market in the second quarter of the previous year.

CITIBANAMEX leads the ranking for growth in market share of premium volume, with an increase of 1.22%. This allows them to capture a 3.9% share of the aggregate of life and non-life insurance, excluding dental plans, pensions, or surety. They are followed by AGRO ASEMEX, which experienced a growth in market share of 0.98%, QUALITAS with 0.51%, MAPFRE with a 0.50% increase, and ZURICH-SANTANDER with a 0.37% growth, completing the list of the top five insurance companies with the highest market share increase during the analyzed period.

In terms of participation in the business volume at the quarterly close, GNP SEGUROS holds the top position with a 12.7% market share, followed by METLIFE with 10.8%, and BBVA SEGUROS achieving a 9% share. AXA SEGUROS holds 7.5%, and QUALITAS contributes 5.9%, making up the group of the five leading insurers in terms of volume. Together, they manage 46% of the insurance sector during the evaluated period.