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Member, Beacon International Group, Ltd.
Fitch Ratings Ltd. has said that the Mexican insurance industry's profit levels would be pressured in 2015, BNamericas reports.
The combined ratio of insurers might increase due to pressure on expenses related to implementation of the new insurance and surety law, coupled with higher claims from the storm Odile, the rating agency said. Claims from Odile are forecast to total 14.7 billion Mexican pesos ($986 million), the Mexican Association of Insurance Institutions said. More catastrophic incidents or price fluctuations could also pressurize profit levels, added Fitch.