...Sector Rating Outlook Stable: The stable outlook indicates that most of the ratings in the sector will be affirmed. Fitch Ratings expects the stable outlook to continue, largely due to adequate technical and gross performance in both the short and medium term, along with a favorable economic environment and sufficient liquidity and capital levels. Positive but Moderate Growth Outlook: For 2015, Fitch expects growth of the Mexican insurance and surety sectors to be around 6% and 8%, respectively, in nominal terms. Lines of business such as P&C and group life will drive growth in view of the renewal of PEMEX's insurance policy. Bancassurance products and those associated with bank credit will probably benefit from expected growth of the financial sector. In addition, Fitch expects growth in the economy as a whole of 3.6% in 2015. Profitability Continues but Challenges Prevail: As of September 2014, the combined ratio of the whole insurance industry was 105.1%, essentially maintaining the...
