Mexican Firms Explore Microinsurance

Rob Katz — Wed, 03 Jan 2007 09:43:41 -0500

December 14, 2006 - 10:00, BusinessWeek

Mexican insurers go for 'microinsurance'

Story Link: http://www.businessweek.com/ap/financialnews/D8M0TQHG2.htm

Teaser:
Just as Mexico's microfinance lenders have carved out a lucrative niche making tiny loans to some of the country's smallest entrepreneurs, a handful of insurers are proving that it can be profitable to sell life insurance to the country's working poor and lower-middle class.

Just as Mexico's microfinance lenders have carved out a lucrative niche making tiny loans to some of the country's smallest entrepreneurs, a handful of insurers are proving that it can be profitable to sell life insurance to the country's working poor and lower-middle class.

"The issue isn't that the population doesn't have the economic capacity, disposable income, or an insurance culture, rather we as insurance companies need to adapt to their means," said Alfredo Honsberg, chief executive of insurance company Seguros Azteca, in an interview.

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Mexican Firms Explore Microinsurance