AIG bets on Mexican ports and energy projects

(Mexico) -- Insurance giant AIG said it will seek to invest in ports and energy projects in Mexico, due to those sectors' growth opportunities.

"The energy reform and new investments that are being generated in this sector will bring growth opportunities for the insurance industry, which today still has a low penetration in the Mexican market in general," said the director of property insurance underwriting of the firm, Leonardo Fantini.

He added that the Ministry of Communications and Transportation (SCT, for its acronym in Spanish) forecasts a 3.2 percent annual growth in the cargo of oil and its derivatives during the next 10 years, which for AIG Seguros Mexico means a clear business opportunity and growth in premiums.

"The construction of three new supply ports for the oil industry is also planned, which is very good news, as the port infrastructure and logistics network supports and accompanies the development of the country," he added.

Photo: Notimex