The health and dental insurance market in Mexico has shown a steady progression as of March 2024. The sector's financial overview indicates that dental and health plans have reached a total of 2.17 billion Pesos, while Medical Expenses Insurance has significantly higher direct written premiums at 45.8 billion Pesos. The annual nominal growth rate for dental and health plans is reported at 6.1%, whereas Medical Expenses Insurance has experienced a higher nominal growth rate of 13.4%.
In terms of market share growth within dental and health plans, PLAN SEGURO leads with an increase of 2.35% market share points, followed by AXA SALUD at 1.72%, SEGUROS CENTAURO at 1.50%, SOFÍA SALUD at 1.28%, and MEDI ACCESS at 1.13%. When it comes to direct premium market share, as of Q1.2024 PLAN SEGURO dominates with 36.7%, AXA SALUD holds 25.5%, and GENERAL DE SALUD has 11.2%.
The Medical Expenses Insurance sector also presents interesting dynamics. ZURICH ASEGURADORA MEXICANA has seen a market share growth of 1.02%, METLIFE MÉXICO at 0.59%, GRUPO NACIONAL PROVINCIAL at 0.57%, SEGUROS INBURSA at 0.24%, and BUPA MÉXICO also at 0.24% were the Top5 insurers in this ranking.
In terms of market share growth within dental and health plans, PLAN SEGURO leads with an increase of 2.35% market share points, followed by AXA SALUD at 1.72%, SEGUROS CENTAURO at 1.50%, SOFÍA SALUD at 1.28%, and MEDI ACCESS at 1.13%. When it comes to direct premium market share, as of Q1.2024 PLAN SEGURO dominates with 36.7%, AXA SALUD holds 25.5%, and GENERAL DE SALUD has 11.2%.
The Medical Expenses Insurance sector also presents interesting dynamics. ZURICH ASEGURADORA MEXICANA has seen a market share growth of 1.02%, METLIFE MÉXICO at 0.59%, GRUPO NACIONAL PROVINCIAL at 0.57%, SEGUROS INBURSA at 0.24%, and BUPA MÉXICO also at 0.24% were the Top5 insurers in this ranking.
At the same time, the largest market share in Medical Expenses Insurance is held by GRUPO NACIONAL PROVINCIAL with 28.2%, followed by METLIFE MÉXICO with 21.5%, and AXA SEGUROS with 18.6%.
The latetest Q1.2024 report reflects the current state of the health and dental insurance market in Mexico, providing a snapshot of the financial health and competitive landscape as of the first quarter of 2024. The data presented here is crucial for understanding the market dynamics and the positioning of key players within the industry.
The latetest Q1.2024 report reflects the current state of the health and dental insurance market in Mexico, providing a snapshot of the financial health and competitive landscape as of the first quarter of 2024. The data presented here is crucial for understanding the market dynamics and the positioning of key players within the industry.
Health insurance (GMM) direct written premiums (YoY%, MX$)
Dental & Health plans direct written premiums (YoY%, MX$)
