Wednesday 22 May 2013
Mexico, - Even if New York Life adjusted down their growth estimates for the. end of this year and even if they are forecasting some premiums will be cancelled and a drop in sales, they announced new investments in Mexico for next year. Dick Mucci, New York Life International CEO, assured in an interview that the Company is forecasting a 10% growth for this year, lower than the 13% estimated at the beginning of the year and that in 2009 “we will invest in distribution channels and investments”.
Even if he would not provide the total amount, he said “there will be capital investments, because as we grow we will need more investment”.
“Seguros Monterrey is the most important company in our international portfolio and it will be in the future”, Mr. Mucci
said. He cleared out that in spite of the financial crisis started in the United States, New York Life is very sound before the economic turbulence.
“We have a very conservative investments portfolio. We do not have any commitments that may be reason for concern and we have a large surplus”, even though he acknowledged they are not immune to economic crises, but “we see it as an opportunity for a larger share of the market and we are analyzing how things turn out”.
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