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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural and man-made hazards and their impact on the Colombian insurance industry, 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 'Non-Life Insurance in Colombia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Colombian non-life insurance segment, including:

- The Colombian non-life segment’s detailed outlook by product category

- A comprehensive overview of the Colombian economy and demographics

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

- The various distribution channels in the Colombian non-life insurance segment

- Detailed analysis of natural and man-made hazards and their impact on the Colombian insurance industry

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

- Details of regulatory policy applicable to the Colombian insurance industry

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

- It provides historical values for the Colombian non-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 non-life insurance segment, and market forecasts to 2020.

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

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

- It analyzes various natural and man-made hazards and their impact on the Colombian insurance industry

- It profiles the top non-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 non-life insurance segment, and each category within it.

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

- Assess the competitive dynamics in the non-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
- The Colombian non-life segment is fragmented, with the 10 leading insurers accounting for 75.2% of the segment’s gross written premium in 2015.

- Motor insurance was the largest category in the non-life segment during the review period, and accounted for 34.3% of the gross written premium generated in 2015.

- In February 2015, the government authorized banks and insurers to sell microinsurance policies through third-party distribution channels.

- Tied brokers are a major part of the Colombian insurance industry distribution channel.

Table Of Contents

Non-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 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies sold
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies sold
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies sold
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies sold
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Brokers
6.1.2 Agencies
6.1.3 Bancassurance
6.1.4 E-commerce
7 Natural and Man-Made Hazards
7.1 Flooding
7.2 Droughts
7.3 Earthquakes
7.4 Volcanic Activity
7.5 Wildfires
7.6 Epidemics
7.7 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 Seguros Generales Suramericana SA - company overview
8.1.2 Seguros del Estado SA - company overview
8.1.3 Allianz Seguros SA - Colombia - company overview
8.1.4 Mapfre Seguros Generales de Colombia SA - company overview
8.1.5 Liberty Seguros SA - Colombia - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Workers' compensation insurance
9.4.3 Professional indemnity insurance for reinsurance brokers
9.4.4 Personal accident insurance for passengers of public vehicles
9.4.5 Liability insurance for Colombian Stock Exchange brokers
9.4.6 Liability insurance for ships with respect to oil pollution
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Association of Insurance Supervisors Latin America
9.5.3 Financial Superintendence of Colombia
9.5.4 Federación de Aseguradores Colombianos (Fasecolda)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxations
9.8.2 Withholding taxes on premium paid overseas.
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Property Insurance
10.5 Property Insurance by Product
10.6 Motor Insurance
10.7 Motor Insurance by Product
10.8 Liability Insurance
10.9 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer


List of Tables
Table 1: Colombia Non-Life Insurance - Key Facts, 2015
Table 2: Colombian Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Colombian Government Credit Ratings
Table 4: Colombian Non-Life Insurance - Gross Written Premium (COP Trillion and US$ Billion), 2011-2015
Table 5: Colombian Non-Life Insurance - Penetration (%), 2011-2015
Table 6: Colombian Non-Life Insurance - Gross Written Premium (COP Trillion and US$ billion), 2015-2020
Table 7: Colombian Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Colombian Non-Life Insurance - Premium per Capita (COP and US$), 2011-2015
Table 9: Colombian Non-Life Insurance - Premium per Capita (COP and US$), 2015-2020
Table 10: Colombian Non-Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 11: Colombian Non-Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 12: Colombian Non-Life Insurance - Paid Claims (COP Trillion and US$ Billion), 2011-2015
Table 13: Colombian Non-Life Insurance - Paid Claims (COP Trillion and US$ Billion), 2015-2020
Table 14: Colombian Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 15: Colombian Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 16: Colombian Non-Life Insurance - Total Assets (COP Trillion and US$ Billion), 2011-2015
Table 17: Colombian Non-Life Insurance - Total Assets (COP Trillion and US$ Billion), 2015-2020
Table 18: Colombian Non-Life Insurance - Total Investment Income (COP Trillion and US$ Million), 2011-2015
Table 19: Colombian Non-Life Insurance - Total Investment Income (COP Trillion and US$ Million), 2015-2020
Table 20: Colombian Non-Life Insurance - Investment Portfolio (COP Trillion), 2011-2015
Table 21: Colombian Non-Life Insurance - Investment Portfolio (COP Trillion), 2015-2020
Table 22: Colombian Non-Life Insurance - Direct Written Premium by Category (COP Trillion),2011-2015
Table 23: Colombian Non-Life Insurance - Direct Written Premium by Category (COP Trillion), 2015-2020
Table 24: Colombian Property Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2011-2015
Table 25: Colombian Property Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2015-2020
Table 26: Colombian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
Table 27: Colombian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
Table 28: Colombian Property Insurance - Paid Claims (COP Billion and US$ Million), 2011-2015
Table 29: Colombian Property Insurance - Paid Claims (COP Billion and US$ Million), 2015-2020
Table 30: Colombian Property Insurance - Loss Ratio (%), 2011-2015
Table 31: Colombian Property Insurance - Loss Ratio (%), 2015-2020
Table 32: Colombian Motor Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2011-2015
Table 33: Colombian Motor Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2015-2020
Table 34: Colombian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
Table 35: Colombian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
Table 36: Colombian Motor Insurance - Paid Claims (COP Trillion and US$ Billion), 2011-2015
Table 37: Colombian Motor Insurance - Paid Claims (COP Trillion and US$ Billion), 2015-2020
Table 38: Colombian Motor Insurance - Loss Ratio (%), 2011-2015
Table 39: Colombian Motor Insurance - Loss Ratio (%), 2015-2020
Table 40: Colombian Liability Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2011-2015
Table 41: Colombian Liability Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2015-2020
Table 42: Colombian Liability Insurance - Number of Policies Sold (Million), 2011-2015
Table 43: Colombian Liability Insurance - Number of Policies Sold (Million), 2015-2020
Table 44: Colombian Liability Insurance - Paid Claims (COP Trillion and US$ Million), 2011-2015
Table 45: Colombian Liability Insurance - Paid Claims (COP Trillion and US$ Million), 2015-2020
Table 46: Colombian Liability Insurance - Loss Ratio (%), 2011-2015
Table 47: Colombian Liability Insurance - Loss Ratio (%), 2015-2020
Table 48: Colombian Transport Network - Global Rankings
Table 49: Colombian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (COP Billion), 2011-2015
Table 50: Colombian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (COP Billion), 2015-2020
Table 51: Colombian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 52: Colombian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 53: Colombian Marine, Aviation and Transit Insurance - Paid Claims (COP Billion and US$ Million), 2011-2015
Table 54: Colombian Marine, Aviation and Transit Insurance - Paid Claims (COP Billion and US$ Million), 2015-2020
Table 55: Colombian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 56: Colombian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 57: Colombian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 58: Seguros Generales Suramericana SA - Key Facts
Table 59: Seguros Generales Suramericana SA - Key Financials (COP Billion), 2011-2015
Table 60: Seguros del Estado SA - Key Facts
Table 61: Seguros del Estado SA - Key Financials (COP Billion), 2011-2015
Table 62: Allianz Seguros SA - Colombia - Key Facts
Table 63: Allianz Seguros SA - Colombia - Key Financials (COP Billion), 2011-2015
Table 64: Mapfre Seguros Generales de Colombia SA - Key Facts
Table 65: Mapfre Seguros Generales de Colombia SA - Key Financials (COP Billion), 2011-2015
Table 66: Liberty Seguros SA - Colombia - Key Facts
Table 67: Liberty Seguros SA - Colombia - Key Financials (COP Billion), 2011-2015
Table 68: Colombia - Insurance Regulatory Framework Key Features
Table 69: Colombia - Life Insurance Regulatory Framework
Table 70: Colombia - Property Insurance Regulatory Framework
Table 71: Colombia - Motor Insurance Regulatory Framework
Table 72: Colombia - Liability Insurance Regulatory Framework
Table73: Columbia - Corporate Tax Rates for the Financial Year 2016
Table 74: Colombian Insurance Industry - Policies and Premium, 2011-2015
Table 75: Colombian Insurance Industry - Policies and Premium, 2015-2020
Table 76: Colombian Non-Life Insurance - Claims and Expenses, 2011-2015
Table 77: Colombian Non-Life Insurance - Claims and Expenses, 2015-2020
Table 78: Colombian Non-Life Insurance - Assets and Investments, 2011-2015
Table 79: Colombian Non-Life Insurance - Assets and Investments, 2015-2020
Table 80: Colombian Non-Life Insurance - Property Insurance, 2011-2015
Table 81: Colombian Non-Life Insurance - Property Insurance, 2015-2020
Table 82: Colombian Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 83: Colombian Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 84: Colombian Non-Life Insurance - Motor Insurance, 2011-2015
Table 85: Colombian Non-Life Insurance - Motor Insurance, 2015-2020
Table 86: Colombian Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 87: Colombian Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 88: Colombian Non-Life Insurance - Liability Insurance, 2011-2015
Table 89: Colombian Non-Life Insurance - Liability Insurance, 2015-2020
Table 90: Colombian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 91: Colombian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 92: 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 Non-Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Colombian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Colombian Non-Life Insurance - Gross Written Premium (COP Billion), 2011-2020
Figure 10: Colombian Non-Life Insurance - Penetration (%), 2011-2020
Figure 11: Colombian Non-Life Insurance - Premium per Capita (COP), 2011-2020
Figure 12: Colombian Non-Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 13: Colombian Non-Life Insurance - Paid Claims (COP Trillion), 2011-2020
Figure 14: Colombian Non-Life Insurance - Profitability Ratio (%), 2011-2020
Figure 15: Colombian Non-Life Insurance - Total Assets (COP Trillion), 2011-2020
Figure 16: Colombian Non-Life Insurance - Total Investment Income (COP Trillion), 2011-2020
Figure 17: Colombian Non-Life Insurance - Investment Portfolio (COP Trillion), 2011-2020
Figure 18: Colombian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2011-2020
Figure 19: Colombian Non-Life Insurance - Direct Written Premium by Category (COP Trillion), 2011-2020
Figure 20: Colombian Non-Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 21: Colombian Property Insurance - Construction Value Output by Category (COP Billion), 2011-2015
Figure 22: Colombian Property Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2011-2020
Figure 23: Colombian Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 24: Colombian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2020
Figure 25: Colombian Property Insurance - Paid Claims (COP Billion), 2011-2020
Figure 26: Colombian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (COP Billion and %), 2011-2020
Figure 27: Colombian Motor Insurance - Direct Written Premium by Sub-Category (COP Trillion), 2011-2020
Figure 28: Colombian Motor Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 29: Colombian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2020
Figure 30: Colombian Motor Insurance - Paid Claims (COP Trillion), 2011-2020
Figure 31: Colombian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (COP Billion and %), 2011-2020
Figure 32: Colombian Liability Insurance - Direct Written Premium (COP Trillion), 2011-2020
Figure 33: Colombian Liability Insurance - Number of Policies Sold (Million), 2011-2020
Figure 34: Colombian Liability Insurance - Paid Claims (COP Trillion), 2011-2020
Figure 35: Colombian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (COP Billion and %), 2011-2020
Figure 36: Colombian Marine, Aviation and Transit Insurance - Direct Written Premium (COP Billion), 2011-2020
Figure 37: Colombian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 38: Colombian Marine, Aviation and Transit Insurance - Paid Claims (COP Billion), 2011-2020
Figure 39: Colombian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (COP Billion and %), 2011-2020
Figure 40: Colombia - Frequency of Hazards by Type, 1990-2014
Figure 41: Colombia - Mortality by Hazards Type, 1990-2014
Figure 42: Colombia - Economic Loss by Hazards Type, 1990-2014
Figure 43: Colombian Insurance Industry - Market Shares of Leading Insurers (%), 2015
Figure 44: Columbia - Insurance Supervision and Control at Various Levels
Figure 45: Columbia - Insurance Regulatory Frameworks for Company Registration and Operation

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