Overview

The second-largest economy in Latin America and the Caribbean, Mexico is among the world’s top 15 economies. Mexico is one of only 17 megadiverse countries and home to a vast diversity of animals and plants, making it critical to protect the country’s ecology and biodiversity. But climate change is increasing extreme weather events like tropical cyclones, floods and drought. This is putting coastal tourist centres at risk, and in rural areas, where small-scale producers derive much of their income from agriculture, extreme temperatures and erratic rainfall are damaging crops and livestock.

UNDP’s Insurance and Risk Finance Facility is working with government, industry and international partners to build financial resilience in Mexico, safeguarding critical sectors like agriculture and SMEs and protecting vulnerable groups.

Main Natural Hazards

Earthquake, Flood, Cyclone, 

Tsunami

1
1 Source:
https://drmkc.jrc.ec.europa.eu/inform-index/INFORM-Risk/Country-Risk-Profile
Insurance penetration

3.2% (2023)

1
1 Source:
https://www.cnsf.gob.mx/cnsf/revista/Documentos%20compartidos/Brechas_revista.pdf
Number of insurance providers

113 insurance companies

1
1 Source:
https://www.gob.mx/cms/uploads/attachment/file/839207/ANUARIO_ESTAD_STICO_DE_SEGUROS_Y_FIANZAS_2022_VF.pdf
% Workforce engaged in agriculture

13% (2022)

1
1 Source:
https://data.worldbank.org/indicator/SL.AGR.EMPL.ZS
Multidimensional poverty

36.3% (2023)

1
1 Source:
https://www.coneval.org.mx/Medicion/MP/Documents/MMP_2022/Documento_de_analisis_sobre_la_medicion_multidimensional_de_la_pobreza_2022.pdf
% of population covered by inclusive insurance products

10%

1
1 Source:

The Microinsurance Network, Landscape of Microinsurance 2023, Based on target population estimate for Mexico of 107,167,981 people https://microinsurancenetwork.org/resources/the-landscape-of-microinsurance-2023
Biodiversity ranking

#6 out of 239 countries and territories (2023)

1
1 Source:
https://worldrainforests.com/03highest_biodiversity.htm
Small business % contribution to workforce

71% of total employment (2021)

1
1 Source:
https://www.oecd.org/cfe/smes/Mexico.pdf

Our work in numbers

6

Million projected beneficiaries

Reaching people through insurance and risk finance solutions.

4

Insurance solutions in development

Protecting people, jobs, agriculture and public assets.

13

Institutional and policy processes

Strengthening the enabling environment for insurance to scale.

850

Training programme participants

Building country capacity in insurance and risk finance.

Our projects

Two women sit under a tree