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  4. > Colombia Insurance Report Q1 2016

Colombia Insurance Report Q1 2016

  • November 2015
  • -
  • Business Monitor International
  • -
  • 58 pages

BMI View

: Colombia's insurance industry will continue to develop at a steady pace through the next fewyears, as robust economy and rising level of household and corporate spending provide a platform forgrowth in premiums. Local firms currently dominate underwriting activity in the country; however, weexpect multinationals to play an increasingly important role going forward, as firms look to take advantageof what is a relatively untapped market. Product development and new distribution strategies will be key toallowing insurers to attract sales among poorer communities.

Key Updates And Forecasts:

- Q415 provided further evidence of Colombia's growing appeal among the leading multinational insurancegroups, with news that UK-based Lloyd's is set to open an office in the country as part of its expansioninto the Latin American market. The representative office, which will be located in the capital, Bogota, isset to open in June 2016. The move is part of the company's 2025 strategic plan to grow its presence inhigh-growth markets. The firms has so far opened offices in Mexico and Brazil.

Table Of Contents

Colombia Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Colombia 2012-2019) 5
SWOT 7
Industry Forecast 9
Life Premium Forecast 9
Table: Life Premiums (Colombia 2012-2019) 12
Table: Life Insurance Claims (Colombia 2007-2014) 13
Non-Life Premium Forecast 14
Table: Non-Life Premiums (Colombia 2012-2019) 17
Table: Non-Life Insurance Claims (Colombia 2008-2014) 18
Non- Life Sub-Sector Forecast 20
Table: Non-Life Insurance Premiums by Product Line (Colombia 2012-2019) 28
Industry Risk Reward Ratings 30
Latin America Insurance Risk/Reward Index 30
Table: Latin America and the Caribbean Insurance Risk/Reward Index 31
Market Overview 32
Life Market Overview 32
The Product Offering 32
The Competitive Landscape 33
Table: Life Insurance Market (USDmn) 2007-2013 34
Non-Life Market Overview 36
The Product Offering 36
The Competitive Landscape 37
Table: Non-Life Insurance Market (USDmn) 2007-2013 38
Company Profile 40
MAPFRE 40
Liberty 43
Seguros Bolívar 45
Seguros Colpatria 47
Suramericana 49
Methodology 52
Industry Forecast Methodology 52
Risk/Reward Index Methodology 55
Table: Indicators 57
Table: Weighting of Indicators 58

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