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  4. > Colombia Insurance Report Q2 2016

Colombia Insurance Report Q2 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 57 pages

Includes 3 FREE quarterly updates

BMI View: The insurance sector in Colombia will continue to develop at a steady pace for the duration ofour medium-term forecast, as positive economic growth and rising levels of household and corporatespending provide a platform for growth in premiums. Local firms currently dominate underwriting activityin the country; however, we expect multinationals to play an increasingly important role as firms look totake advantage of what is a relatively untapped market. Product development and new distributionstrategies will be key to allowing insurers to attract sales among poorer communities.Colombia's life insurance market is an attractive option for multinational insurers given the country'sgrowing middle class, favourable demographics and rising income levels, not to mention low base effectsand low penetration, which provide ample scope for growth. Favourable legislation and growing demandfor retirement income products should lead to further opportunities over the next few years and should leadto further investment and new entrants from overseas.

Table Of Contents

Colombia Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Colombia 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Colombia 2013-2020) 12
Table: Life Insurance Claims, Colombia 13
Non-Life Premium Forecast 14
Table: Non-Life Premiums (Colombia 2013-2020) 17
Table: Non-Life Insurance Claims, Colombia 18
Non-Life Sub-Sector Forecast 20
Table: Non-Life Insurance Premiums by Product Line (Colombia 2013-2020) 28
Insurance Risk/Reward Index 30
Latin America Insurance Risk/Reward Index 30
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q216 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 36
Table: Non-Life Insurance Market (USDmn) 2007-2013 37
Company Profile 39
MAPFRE 39
Liberty 42
Seguros Bolívar 44
Seguros Colpatria 46
Suramericana 48
Methodology 51
Industry Forecast Methodology 51
Risk/Reward Index Methodology 54
Table: Indicators 56
Table: Weighting of Indicators 57

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