2012 Annual Report - Ixe

Informe Anual 2010
Annual Report 2012
In November 2012, an agreement was reached with BBVA Spain management to acquire
100% of Afore Bancomer. The merger of both Afores was completed in March 2013 and has
strengthened Afore XXI Banorte as follows:
• The largest Afore in the Mexican system based on total managed accounts: 12 million,
equivalent to 27% of the Retirement Savings System total.
• The largest company in the system based on managed funds: as of January 2013 these
totaled almost Ps. 550 billion, or 28% of total funds managed by the Afores.
• The Afore offers customers an additional benefit; following the merger the management
fee was reduced from 1.33% in the case of Afore XXI Banorte and 1.28% in the case of Afore
Bancomer to 1.10% for the merged entity.
• Leading organization in the Voluntary Savings market and Pension Funds Management.
• The company with the most contact points and customer service with more than 100 offices
located throughout Mexico.
OUR 2013 COMMITMENT: Consolidate ourselves as Mexico’s largest Afore positioning us as the
best option of the Sector.
Seguros Banorte Generali (Insurance)
During the year projects of great relevance for the Group were developed that are moreover
aligned with the overall strategy and aim to consolidate our presence in the market and achieve
ongoing growth that meets customer needs. They include:
• The development of the CIMA project aimed at releasing a new central system for Car
Damages, and which will be implemented in 2013.
• “Espacio BG”, a new technological platform that enables our agents and dealers to conduct
online transactions 24 hours a day, 365 days a year, and positions us at the forefront of
internet services in the market.
• The extension of the medical network for Major Medical Expenses Insurance giving the insured
access to a network of 7,000 doctors, more than 700 hospitals and 300 support services.
OUR 2013 COMMITMENT: Increase profitability based on a Client Centric Vision through ongoing
process improvement, the implementation of new tools and continued attention to the needs
of those we insure.
Pensiones Banorte Generali (Annuities)
In 2012 Pensiones Banorte Generali (Annuities) maintained its leadership in terms of market share
while at the same time continuing an investment strategy that lowers risks involving positions with
a high credit rating and low concentration in the portfolio. Besides generating an adequate
yield, this strategy increases the company’s solvency margin, which at the close of 2012 was
Ps. 734.8 million compared to Ps. 252 million at the end of 2011.
Likewise, in November and December 2012, the merger of Pensiones Banorte Generali and
Horizontes Banorte Generali, S. A. was authorized and executed.
OUR 2013 COMMITMENT: Retain our market leadership and continue to provide our retirees with
a top quality service.
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