Commissions to insurance agents and brokers in Mexico
The ranking of commission volume per insurer for agents and brokers at the end of the second quarter of 2023 reveals QUALITAS leading with a 1.10% increase in market share points. They are followed by HIR SEGUROS (+0.31%), ARGOS (+0.27%), BANORTE (+0.25%), and AXA SEGUROS (+0.16%).
As for the distribution of intermediation by the type of coverage, 29% of the total commission volume corresponds to medical expenses insurance, 22% to automobile insurance, another 22% to individual life insurance, and 11% to group life insurance. The remaining nearly 15% of the volume is spread across other life and non-life coverages.
As for the distribution of intermediation by the type of coverage, 29% of the total commission volume corresponds to medical expenses insurance, 22% to automobile insurance, another 22% to individual life insurance, and 11% to group life insurance. The remaining nearly 15% of the volume is spread across other life and non-life coverages.
It is important to note that this distribution represents the average across the entire market, which includes 57 insurers that have granted commissions for intermediation during the analyzed period. However, when examining each insurer individually, the distribution of commissions by lines can vary significantly from one entity to another.