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Synopsis
Timetric’s 'Life Insurance in Colombia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Colombian life insurance segment, and a comparison of the Colombian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Colombian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Life Insurance in Colombia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Colombian life insurance segment, including:

- An overview of the Colombian life insurance segment

- The Colombian life insurance segment’s growth prospects by category

- A comprehensive overview of the Colombian economy and demographics

- A comparison of the Colombian life insurance segment with its regional counterparts

- The various distribution channels in the Colombian life insurance segment

- Details of the competitive landscape in the life insurance segment in Colombia

- Details of regulatory policy applicable to the Colombian insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in Colombia:

- It provides historical values for the Colombian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Colombian life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Colombian life insurance segment with its regional counterparts

- It analyzes the various distribution channels for life insurance products in Colombia.

- It profiles the top life insurance companies in Colombia and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Colombian life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Colombian life insurance segment.

- Assess the competitive dynamics in the life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Colombian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- Life insurance was the second-largest segment in the Colombian insurance industry in 2015, accounting for 16.1% of the industry’s gross written premium.

- In 2015, life segment’s insurance penetration stood at 0.79%.

- Colombia’s life segment is concentrated, with the five leading companies accounting for 63.4% of the gross written premium in 2015.

- Bancassurance is the most popular and trusted distribution channel offering credit life, term insurance, and pension products to middle and low-income groups in Colombia.

Table Of Contents

Life Insurance in Colombia, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Assets and investments
5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Policies sold
5.2.3 Penetration
6 Distribution Channel Outlook
7 Competitive Landscape
7.1 Company Profiles
7.1.1 Seguros de Vida Alfa SA - company overview
7.1.2 Suramericana de Seguros de Vida SA - company overview
7.1.3 Seguros de Riesgos Profesionales Suramericana - company overview
7.1.4 Positiva Compañía de Seguros SA - company overview
7.1.5 Compañía de Seguros Bolívar SA - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Workers' compensation insurance
8.4.3 Professional indemnity insurance for reinsurance brokers
8.4.4 Personal accident insurance for passengers of public vehicles
8.4.5 Liability insurance for Colombian Stock Exchange brokers
8.4.6 Liability insurance for ships with respect to oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Association of Insurance Supervisors Latin America
8.5.3 Financial Superintendence of Colombia
8.5.4 Federación de Aseguradores Colombianos (Fasecolda)
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxations
8.8.2 Withholding taxes on premium paid overseas.
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Individual Life Insurance
9.5 Individual Life Insurance by Product
9.6 Group Life Insurance
9.7 Group Life Insurance by Product
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer


List of Tables
Table 1: Colombian Life Insurance - Key Facts, 2015
Table 2: Colombian Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Colombian Government Credit Ratings
Table 4: Colombian Life Insurance - Gross Written Premium (COP Trillion and US$ Billion), 2011-2015
Table 5: Colombian Life Insurance - Penetration (%), 2011-2015
Table 6: Colombian Life Insurance - Gross Written Premium (COP Trillion and US$ Billion), 2015-2020
Table 7: Colombian Life Insurance - Penetration (%), 2015-2020
Table 8: Colombian Life Insurance - Premium per Capita (COP and US$), 2011-2015
Table 9: Colombian Life Insurance - Premium per Capita (COP and US$), 2015-2020
Table 10: Colombian Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 11: Colombian Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 12: Colombian Life Insurance - Paid Claims (COP Trillion and US$ Billion), 2011-2015
Table 13: Colombian Life Insurance - Paid Claims (COP Trillion and US$ Billion), 2015-2020
Table 14: Colombian Life Insurance - Total Assets (COP Trillion and US$ Billion), 2011-2015
Table 15: Colombian Life Insurance - Total Assets (COP Trillion and US$ Billion), 2015-2020
Table 16: Colombian Life Insurance - Total Investment Income (COP Trillion and US$ Billion), 2011-2015
Table 17: Colombian Life Insurance - Total Investment Income (COP Trillion and US$ Billion), 2015-2020
Table 18: Colombian Life Insurance - Investment Portfolio (COP Trillion), 2011-2015
Table 19: Colombian Life Insurance - Investment Portfolio (COP Trillion), 2015-2020
Table 20: Colombian Life Insurance - Direct Written Premium by Sub-Segment (COP Trillion),2011-2015
Table 21: Colombian Life Insurance - Direct Written Premium by Sub-Segment (COP Trillion), 2015-2020
Table 22: Colombian Individual Life Insurance - Direct Written Premium by Category (COP Billion), 2011-2015
Table 23: Colombian Individual Life Insurance - Direct Written Premium by Category (COP Billion), 2015-2020
Table 24: Colombian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 25: Colombian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 26: Colombian Group Life Insurance - Direct Written Premium by Category (COP Trillion), 2011-2015
Table 27: Colombian Group Life Insurance - Direct Written Premium by Category (COP Trillion), 2015-2020
Table 28: Colombian Group Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
Table 29: Colombian Group Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
Table 30: Colombian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 31: Seguros de Vida Alfa SA - Key Facts
Table 32: Seguros de Vida Alfa SA - Key Financials (COP Billion), 2011-2015
Table 33: Suramericana de Seguros de Vida SA - Key Facts
Table 34: Seguros de Riesgos Profesionales Suramericana - Key Facts
Table 35: Seguros de Riesgos Profesionales Suramericana - Key Financials (COP Billion), 2011-2015
Table 36: Positiva Compañía de Seguros SA - Key Facts
Table 37: Positiva Compañía de Seguros SA - Key Financials (COP Million and Trillion), 2011-2015
Table 38: Compañía de Seguros Bolívar SA - Key Facts
Table 39: Compañía de Seguros Bolívar SA - Key Financials (COP Million), 2011-2015
Table 40: Colombia - Insurance Regulatory Framework Key Features
Table 41: Colombia - Life Insurance Regulatory Framework
Table 42: Colombia - Property Insurance Regulatory Framework
Table 43: Colombia - Motor Insurance Regulatory Framework
Table 44: Colombia - Liability Insurance Regulatory Framework
Table45: Columbia - Corporate Tax Rates for the Financial Year 2016
Table 46: Colombian Life Insurance - Policies and Premium, 2011-2015
Table 47: Colombian Life Insurance - Policies and Premium, 2015-2020
Table 48: Colombian Life Insurance - Claims and Expenses, 2011-2015
Table 49: Colombian Life Insurance - Claims and Expenses, 2015-2020
Table 50: Colombian Life Insurance - Assets and Investments, 2011-2015
Table 51: Colombian Life Insurance - Assets and Investments, 2015-2020
Table 52: Colombian Life Insurance - Individual Life Insurance, 2011-2015
Table 53: Colombian Life Insurance - Individual Life Insurance, 2015-2020
Table 54: Colombian Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 55: Colombian Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 56: Colombian Life Insurance - Group Life Insurance, 2011-2015
Table 57: Colombian Life Insurance - Group Life Insurance, 2015-2020
Table 58: Colombian Life Insurance - Group Life Insurance by Product, 2011-2015
Table 59: Colombian Life Insurance - Group Life Insurance by Product, 2015-2020
Table 60: Insurance Industry Definitions


List of Figures
Figure 1: Colombian Real GDP (COP Trillion), 2011-2020
Figure 2: Colombian Inflation Rate, 2011-2020
Figure 3: Colombian COP-US$ Exchange Rate, 2011-2020
Figure 4: Colombian Current Account Balance, 2011-2020
Figure 5: Colombian Unemployment Rate, 2011-2020
Figure 6: Colombian Population by Age Group, 1991-2025
Figure 7: Colombian Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Colombian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Colombian Life Insurance - Gross Written Premium (COP Trillion), 2011-2020
Figure 10: Colombian Life Insurance - Penetration (%), 2011-2020
Figure 11: Colombian Life Insurance - Premium per Capita (COP), 2011-2020
Figure 12: Colombian Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 13: Colombian Life Insurance - Paid Claims (COP Trillion), 2011-2020
Figure 14: Colombian Life Insurance - Total Assets (COP Trillion), 2011-2020
Figure 15: Colombian Life Insurance - Total Investment Income (COP Trillion), 2011-2020
Figure 16: Colombian Life Insurance - Investment Portfolio (COP Trillion), 2011-2020
Figure 17: Colombian Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 18: Colombian Life Insurance - Direct Written Premium by Sub-Segment (COP Trillion), 2011-2020
Figure 19: Colombian Life Insurance - Direct Written Premium Share by Sub-Segment, 2011-2020
Figure 20: Colombian Life Insurance - Direct Written Premium Dynamics by Sub-Segment, 2011-2020
Figure 21: Colombian Individual Life Insurance - Direct Written Premium by Category (COP Billion), 2011-2020
Figure 22: Colombian Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 23: Colombian Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 24: Colombian Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2020
Figure 25: Colombian Individual Life Insurance - Penetration (%), 2011-2015
Figure 26: Colombian Individual Life Insurance - Penetration (%), 2015-2020
Figure 27: Colombian Group Life Insurance - Penetration (%), 2011-2015
Figure 28: Colombian Group Life Insurance - Penetration (%), 2015-2020
Figure 29: Colombian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Figure 30: Columbia - Insurance Supervision and Control at Various Levels
Figure 31: Columbia - Insurance Regulatory Frameworks for Company Registration and Operation

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