Quálitas is referred to as the Mexican Progressive.
This is not investment advice. Please read the disclaimer. I might own discussed stock(s) currently or at a later time. I might transact in any securities at any time.
Qualitas is the dominant market leader in its Mexican domestic car insurance market. It makes use of new technology, better service, efficiency, and profitability. Qualitas’ 2020 profitability benefitted a lot from less driving (frequency) during the pandemic but fewer new car sales, and thus fewer car insurance needed, and rising competition will be a headwind for some time as will be the economy.
Longer-term, Mexico offers ample profitable growth for its core car insurance business. In addition, Qualitas has abundant capital waiting to be used in its growing insurance operations. Its foreign operations look promising and starting its new domestic business line (medical insurance) is a smart move to allocate excess-capital building on its domestic position, trust, and distribution network.
Emerging market risks persists. Two involved families act as owner-operator. >>Read my note here (pdf).
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I own shares in the mentioned company.
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