Alberto Vilar, chief executive of MetLife Mexico, S.A., forecasts 8%-10% growth in Mexico’s life insurance market in 2008, according to a report by Ken Parks of Dow Jones Newswires released on May 30, 2008. 

MetLife Mexico’s life insurance sales in Mexico totaled MN$23.08 billion (approximately US$2.23 billion) in 2007, giving the company a 30% share of the total market.  Life insurance appears poised for growth in Mexico because of the country’s young population, emerging middle class, and limited use of financial services.   

One of MetLife Mexico’s target markets is lower- to middle- income Mexicans, to which it has been selling life insurance since 2006 through a joint venture with Wal-Mart de Mexico (WALMEX.MX).