Non-admitted insurance: Prohibited, except by special permission from the Ministry of Finance.

Premium tax paid by insured: 15% VAT plus small policy issuance fees.

Regulator: The industry is regulated by the Comision Nacional de Seguros y Fianzas (CNSF), which translates as the National Commission for Insurance and Surety.

Overview: Mexico has made more progress than Brazil in liberalising its insurance market.

Overall risk rating: medium