Best’s News & Research Service - October 05, 2015 10:30 AM (EDT)
A.M.BestTV: Consolidation Expected With New Mexico Regulations
- October 05, 2015 10:30 AM (EDT)
Oldwick //BestWire// - This first in a series of “First Monday” episodes spotlights A.M. Best América Latina Managing Director Manuel Calderón and Director of Analytics Alfonso Novelo’s discussion on implementation of new Solvency II-like rules in Mexico and their likely impact. Click on http://www.ambest.com/v.asp?v=mexicorules1015 to view the entire program.
The next “First Monday’ episodes will include a focus on how growth in ride-sharing services, such as Uber and Lyft, has the insurance industry contemplating exposures and in what way Mexico’s new Solvency II- like regulations could lead insurers concentrated in certain lines of business to seek capital relief. “First Monday” is A.M. Best’s monthly program featuring commentary by the company’s leading analysts.
Mexico’s insurance industry has seen significant advancements over the last couple of decades. These widespread market shifts have culminated in a new solvency framework based on Solvency II and insurance and surety products.
“Since the implementation in Mexico of the model type Solvency II has been a 20-year process, in my opinion, companies are in a good position to take this advent in regulation and supervision in Mexico,” said Calderón.
“There are still some adjustments that need to be negotiated between the insurance companies and the regulators in terms of general formula in order to calculate the new solvency margin. However, I think in general, companies are on pretty solid ground in order to carry out this transition,” continued Novelo.
Calderón and Novelo expect mergers and acquisitions to occur, Mexican companies to operate without major changes and to try and expand their operations into more countries in Latin America.
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- Drone Era Brings New Rules, Risks and Claims: At this recent webinar insurance and legal experts explored regulatory concerns and risk exposures raised by the rapid adoption of drones for professional and recreational usage: http://www.ambest.com/v.asp?v=drones915.
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv .
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