On October 2003, Grupo Elektra (a unit of Grupo Salinas) was authorized by the Secretaría de Hacienda y Crédito Público to acquire a private insurance company in Mexico that was re-branded Seguros Azteca". During the second quarter of 2004, Seguros Azteca started operations in Mexico. Currently, after less than two years, Seguros Azteca, with a fresh version of a traditional business, focuses on a population segment that has historically been ignored by the insurance industry in our communities. It offers life insurance and other basic policies that can be purchased ata comparatively low premiums.