Mexican and Brazilian insurers pushing for Solvency II
MEXICO AND BRAZIL - Latin America's largest and fastest-growing insurance markets are pushing ahead with ambitious plans to implement Solvency II. Both Mexico and Brazil are determined to make sure they keep abreast of best practice, but they will have to proceed by trial and error.
Both markets have been growing rapidly, as large segments of the population clamour for basic insurance products. The Mexican market has doubled in size in the past 10 years, with the number of companies jumping from about 40 to around 100. Norma Alicia Rosas, vice-president of analysis and sectoral studies at the Insurance and Surety National Commission (CNSF) in Mexico City, says this rate of
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