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Life Insurance in Colombia, Key Trends and Opportunities to 2021

  • July 2017
  • 108 pages
  • Timetric
Report ID: 919783

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Synopsis
Timetric’s ’Life Insurance in Colombia, Key Trends and Opportunities to 2021’ 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 (2012–2016) and forecast period (2016–2021).

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 2021’ 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 2012–2016 review period, and projected figures for the 2016–2021 forecast period.

- It offers a detailed analysis of the key categories in the Colombian life insurance segment, and market forecasts to 2021.

- 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
- In 2017, the Superintendencia Financiera de Colombia (SFC) proposed Project 03/2017, mandating a change in the reserve requirement calculation for disability and survival insurance.

- On December 31, 2015, International Financial Reporting Standards (IFRS) were fully implemented in Colombia.

- In February 2015, the Colombian government approved the sale of microinsurance products through third-party channels.

- Colombia’s life segment is concentrated, with the five leading companies accounting for 72.8% of gross written premium in 2016.

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