Mexico s Market Evolution

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1 MEXICO INSURANCE DAY OPPORTUNITIES PANEL Mexico s Market Evolution Luis J. Alvarez Marcen March, 13th 2012

2 Mexico s Market Evolution 2

3 Insurance Industry in Mexico Historical Penetration & Density 2.7% USD % 2.7 % 2.4% 2.3% % 2.0% % 1.8% 1.6% 1.6% Mexico s premiums per capita Region premiums per capita Mexico s premiums as % of GDP Region premiums as % of GDP Source:. Latinoinsurance 3

4 Insurance Industry Penetration & Density 4,912 4,009 3, % 7.65% 5.03% 4.07% NA 1.86% 166 United States OECD European Union Chile Mexico Penetration (premiums to GDP) Density (us dollar insurance spending per capita) Source: Organization of Economic Co-Operation and Development (OECD)

5 Insurance Industry in Mexico There are 101 Insurance Companies in Mexico. 30% Domestic Capital Foreing Capital 80% 70% 20% 1990 Premiums

6 Insurance Industry in Mexico Premiums as % of GDP Premiums USD Billions Source: AMIS 6

7 The Mexican Market NUMBER OF POLICIES AND INSURANCE CERTIFICATES, Rate variation Times Rate variation Times Rate variation Times Millions of Certificates Life Health P&C Source: CNSF; Anuarios Estadísticos

8 The Mexican Market MARKET CONCENTRATION HERFINDAHL INDEX. INSURANCE MEXICAN SECTOR ( ) Source: ABM Source: EstadisticAMIS. HERFINDAHL INDEX. MEXICAN SECTORS 5,174 4,146 3,744 3,660 2,917 2,664 2,415 2,390 2,386 7,300 7,180 7,091 2,269 2,229 2,166 1,337 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Tiendas SEGUROS Automotriz Banca Cemento TV Abierta Telefonía Fija Telefonía Móvil Electricidad Minería Tiendas Comerciales Química y Alimentos Bebidas y Cervezas TV por Cable Holding

9 Insurance Industry in Mexico Premiums USD Billions 18 23% 16% 16% 4% 17 19% 19% 14% 4% 19 22% 18% 16% 7% 22 25% 22% 18% 7% 21 24% 21% 19% 8% Motor P&C Health Pension Life 41% 38% 42% 47% 46% Source:. AMIS 9

10 Insurance Industry in Mexico Distribution Channels, % 61% 54% 31% 40% 48% Agents Brokers Direct Selling Bancassurance 7% 39% 27% 20% Massive sale & Others 21% 11% 3% 5% 14% 10% 23% 25% 13% 3% 2% 4% 10% 14% 14% 4% Health Life P&C Motor Total Source:. AMIS

11 Insurance Industry in Mexico Premiums 2010 Net Earnings 2010 Bancassurance 17% Bancassurance 52% Traditional 83% Traditional 48% Bancassurance Traditional Bancassurance Traditional 66% 16% 7% 11% 24% 39% 18% 19% 43% 27% 17% 14% 65% 13% 22% 1% Motor Health P&C Life 11

12 Insurance Industry in Mexico There is a large unsatisfied demand which represents a great business opportunity Home Insurance Health Insurance Life Insurance Motor Insurance Only 4.5% of homes insured The mayor health insurance cover only 5.8% of the population 7.2 million people have individual life insurance Motor insurance protect the 26.5% of automobiles, since in Mexico there is no compulsory insurance NO HOME MORTGAGE LOANS ASSOCIATED INDIVIDUAL CONTRACTS REPRESENT ONLY 2% OF THE TOTAL POPULATION. INDIVIDUAL CONTRACTS REPRESENT 12.8% OF EMPLOYED. * Estimates with 2010 census data and those in the SESA

13 Insurance Industry in Mexico Cars Insured by entity 2010 INEGI cars registered Cars Insured % Total 32,338,820 8,350, % Michoacán 1,631, , % 5 w/ Low % Hidalgo 850,074 83, % Guerrero 714,651 62, % Zacatecas 504,833 39, % Baja California Sur 492,316 32, % Distrito Federal 4,166,756 2,044, % 5 w/ High % Nuevo León 1,975, , % Querétaro 458, , % Yucatán 513, , % Chihuahua 1,207, , % 13

14 Mexico s Profile Economy CAGR GDP (current million US$) 581,426 1,034,804 GDP per capita (current US$) 5,817 9, % 4.6% Inflation, consumer prices (annual %) Source: World Bank 14

15 Mexico s Profile Population * million % million % million % Total Population % % % Youth population (aged less than 15) 35 34% 32 28% 27 23% Adult population (aged more than 15 less than 65) 64 61% 74 66% 80 67% Elderly population (aged 65 and over) 5 5% 7 6% 12 10% Source: World Bank * Projection Consejo Nacional de Población (CONAPO) 15

16 Mexico s Profile Socioeconomic Regions Wealth index* % Population % # entities * Index considers: education, health, employment, housing, infraestructure Source: INEGI 16

17 Mexico s Profile Households Income Distribution Population Millions Percentaje Household income per month AB % + 6,538 usd C+ C % 2,692 6,538 usd 17.9% 893 2,692 usd D % usd D E % usd 6.7% usd 100% Source: AMAI / NIELSEN

18 Mexico s Profile Size of companies Small (11 50 employees) 0.22 millions = 4.5% Medium & Big (+51 employees) 0.03 millions = 0.5% Micro (1 10 employees) 4.8 millions = 95% Source: INEGI

19 Banking Domestic credit provided by banking sector (% of GDP) North America OCDE European Union China Asia Brasil Chile Latin America Mexico Source: International Monetary Fund (IMF)

20 Insurance Industry in Mexico Market Development Premiums as % of GDP Strategic Plan CAGR 9% 2.5% 2.2% Trend CAGR 7%

21 PRIMAS DIRECTAS POR OPERACIONES (MILLONES DE PESOS) 280, , ,000 75,000 50,000 25,000 0 Life Pensions Health Automóbile Property & Casualty DIC ,873 15,749 41,354 55,829 50, ,942 DIC ,589 15,849 37,213 50,060 39, ,389 NET INCREMENT TOTAL 12,284 (100) 4,141 5,769 10,458 32,553 % GROWTH 12.9 (0.6) PEMEX CONCILIATION Dñ S/A TOTAL 47, ,283 43, ,020 4,168 26, IN REAL TERMS, THE MARKET GREW AT A RATE OF 9.5% And WITH PEMEX CONCILIATION 6.8%

22 MARKET SHARE BY LINE OF BUSINESS 2011 FIGURES DAÑOS SIN AUTOS 18.5% VIDA 39.8% AUTOS 20.6% HEALTH 15.3% PENSIONS 5.8% LIFE AND HEALTH 164, %

23 INVESTMENTS (MILLIONS OF PESOS) DICIEMBRE ,052 MP INCR. 14.5% PRIVADAS 100,775 VAL. EXTR. 10,505 2% RTA VARIABLE 58,975 10% INMOB 9,783 1% OTROS 46,852 8% 1.03 times the reserves INCR. 16.3% ESTADO 338,036 RENTA FIJA % PTAMOS 21,127 4% DICIEMBRE ,960 MP PRIVADAS 86,688 ESTADO 290,599 RTA. FIJA 377,287 74% VAL. EXTR. 12,932 3% RTA VARIABLE 54,628 11% INMOB 10,250 1% OTROS 42,666 8% PTAMOS. 14,197 3%

24 TECHNICAL RESERVES DECEMBRR 2011 DECEMBER 2010 PENSIONS PENSIONS % 125, % 25.0% TRADICIONALES 367,722 TRADITIONALS 16.5% TRADITIONALS 74.5% 366, , % 75.0 % GROWTH 569,714 MP 492,438 MP 15.7%

25 Mexican Association of Insurance Institutions Strategic Plan Life Life and Disability / Social Security Tax Incentives Individual Retirement Plans Pensions National Pension System Annuities Motor Compulsory Insurance Property & Casualty Compulsory insurance Catastrophe insurance Health National Health System 25

26 26

27 Mexico s Market Evolution Luis J. Alvarez Marcen March 13th,

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