Author: Daniel Bandle, CEO AXA Mexico

HURRICANES AND EARTHQUAKES: WHAT WAS 2018 LIKE IN MEXICO?

Mexico is a country heavily exposed to natural catastrophes: there are more than 2,000 volcanoes, 12 of those active; and we regularly experience hurricanes and earthquakes.

2017 was a tragic year, mainly because of the two earthquakes on 7 and 19 September. 471 people were killed and 50,610 houses were destroyed. 

This year has been easier for Mexico: there have not been any casualties nor heavy damages from earthquakes and the hurricane season is coming to its end. Yet our customers suffered the impact of natural disasters. The largest claim was reported in Mazatlán, at the Pacific Coast. On 26 October, the hurricane Willa destroyed various greenhouses and one AXA customer producing peppers, corns, pineapples, bananas, tomatoes and sugar cane suffered damages amounting to several million USD. AXA Mexico will be there to finance the rebuilding of our customer’s business. Our mission is to better protect more Mexicans and  events like the ones above show how important it is to increase insurance penetration in Mexico.