Qualitas Aided by Pena Nieto Car Insurance Law: Corporate Mexico

President Enrique Pena Nieto is giving the car insurance market a boost with a plan to mandate policies on federal highways in Mexico, where almost three in four drivers lack coverage.

Congress approved the proposal in April, and administration officials have said they’re working to implement the rules this year, without giving a start date. Requiring coverage in a country where the government estimates 73 percent of drivers to be uninsured would boost sales for Mexico City-based Qualitas Controladora SAB and competitors including Paris-based AXA SA and Grupo Financiero Inbursa SAB, the lender controlled by billionaire Carlos Slim.