The corporate debt market in Latin America remains relatively small, and Mexico is no exception. As of December 2014, there was MXN1.02trn ($68.65bn) in outstanding corporate long-term bonds, including corporate, state, municipal and infrastructure issues, as well as those from state-owned companies and federal agencies. Corporate debt issuance has grown at a compound annual...
Although the pace of expansion has moderated in the last two years in line with a sluggish economy, Mexico’s insurance industry has been experiencing strong growth. The country remains under-insured, and thus the outlook for increasing the market penetration of insurance products is encouraging. According to the industry’s main regulatory body...
During their annual convention in May 2015, leaders of the Mexican Banking Association (Asociación de Banqueros de México, ABM) said that the industry was doing well. “Mexican banking is experiencing the best credit growth cycle in its history,” Luis Robles Miaja, president of the ABM, said, adding that “credit has been growing at a rate 3.7...
Mexico has orderly and innovative capital markets, with government-issued and blue-chip corporate bonds dominating the fixed-income sector, which is larger in volume terms than equities. A well-developed foreign currency market – the world’s most-traded emerging markets currency – is also a prominent asset helping to drive activity. On the...
On January 1, 2015 the new Mexican Oil Fund for Stabilisation and Development (Fondo Mexicano de Petróleo para la Estabilización y el Desarrollo, FMP) began operations. The FMP was created as part of the package of energy sector reforms and constitutional changes approved by Congress during the course of 2013 and 2014. Technically, it is...
Mexico’s new insurance and sureties law (Ley de Instituciones de Seguros y de Finanzas, LISF) came into effect in April 2015. The law, considered one of the most advanced of its type in Latin America, seeks to bring the country into line with the Solvency II insurance industry regulatory standards developed in Europe.
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