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Non-Life Insurance in Colombia, Key Trends and Opportunities to 2021

Non-Life Insurance in Colombia, Key Trends and Opportunities to 2021

  • July 2017
  • 139 pages
  • ID: 923044

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Synopsis
Timetric’s ’Non-Life Insurance in Colombia, Key Trends and Opportunities to 2021’ 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 (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, explains the various types of natural hazard 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 2021’ report provides in-depth market analysis, information and insights into the Colombian non-life insurance segment, including:

- The Colombian non-life segment 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 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 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 non-life insurance segment, and market forecasts to 2021.

- 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 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
- On February 21, 2017, the SFC approved the catastrophe modeling services for earthquake risks developed by a catastrophe risk management firm, Risk Management Solutions, for use by domestic and foreign insurance and reinsurance companies engaged in underwriting earthquake risks.

- On November 30, 2016, the Colombian government introduced a catastrophe agricultural insurance model.

- On July 13, 2016, the Colombian President approved the Safe Housing Bill. Article Eight of the act mandates the builders of new housing to purchase insurance that protects the property for damages caused to the owners and affected third parties if the building collapses, as a result of deficiencies in the construction process.

- For foreign entities which are not permanently established, the tax rate was increased from 33% to 39% from 2015.

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