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Colombia Insurance Report Q2 2015

Colombia Insurance Report Q2 2015

BMI View: Recent developments in Colombia's insurance sector confirm that all the positive trends that wehave identified in previous reports. Solid economic growth continues to underpin the expansion ofpremiums in the non-life segment. Double digit growth (in local currency terms) in the life segment reflectsthe continuing emergence of life insurance as a key conduit for organised savings in the country. Multinationalcompanies see Colombia as a very attractive market opportunity in global terms and have beenincreasing the capital committed.

As was the case in 2014, the development of premiums in USD terms will be constrained by the weaknessof the local currency over the coming year. In local currency terms, premium growth has been in high singledigits in the non-life segment and in low double digits in the life segment. Both segments have benefitedfrom the steady growth of the economy. However, non-life penetration (premiums as a percentage of GDP)have not been growing. This is one indication of fairly intense competition. Another is the increase incommissions paid to brokers, a problem identified by trade association Fasecolda. In its recent (December2014) purchase of bulk covers for the next four years, the government paid less than it had expected to do.

Fortunately, the non-life insurers have been taking steps to control claims costs. One reflection of this hasbeen the decline in the relative importance of motor vehicle insurance claims.


BMI Industry View
SWOT
Political
Economic
Operational Risk
Industry Forecast
Total Premiums Forecast
Total Premiums
Table: Total Gross Premiums Written (Colombia 2012-2019)
Net Premiums
Table: Total Net Premiums Written (Colombia 2012-2019)
Reinsurance Premiums
Table: Total Reinsurance Premiums Written (Colombia 2012-2019)
Total Claims
Table: Total Insurance Claims (Colombia 2007-2013)
Insurers' Assets
Table: Total Insurance Assets (Colombia 2007-2014)
Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (Colombia 2012-2019)
Table: Net Life Premiums Written (Colombia 2012-2019)
Life Claims
Table: Life Insurance Claims (Colombia 2007-2013)
Life Insurers' Assets
Table: Assets (Colombia 2007-2013)
Life Insurance Drivers
Table: Insurance Key Drivers, Disease Adjusted Life Years (Colombia 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (Colombia 2012-2019)
Non-Life Premiums Forecast
Table: Gross Non-Life Premiums Written (Colombia 2012-2019)
Table: Net Non-Life Premiums Written (Colombia 2012-2019)
Reinsurance Premiums
Table: Reinsurance Non-Life Premiums Written (Colombia 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (Colombia 2007-2013)
Table: Non-Life Insurance Claims by Line (Colombia 2007-2013)
Non-Life Insurers' Assets
Table: Assets (Colombia 2007-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life % Breakdown (Colombia 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (Colombia 2012-2019)
Table: Insurance Key Drivers, Autos (Colombia 2012-2019)
Table: Transport Insurance (Colombia 2012-2019)
Property Insurance
Table: Property Insurance (Colombia 2012-2019)
Health Insurance
Table: Health Insurance (Colombia 2012-2019)
General Liability Insurance
Table: General Liability Insurance (Colombia 2012-2019)
Industry Risk Reward Ratings
Latin America Insurance Risk/Reward Ratings - Q2 2015
Table: Latin America Risk/Reward Index - Q2 2015
Market Overview
Life Market Overview
Table: Life Insurance Market (US$mn) 2006-2012
Non-Life Market Overview
Table: Non-Life Insurance Market (USDmn) 2007-2013
Company Profile
MAPFRE
Liberty
Seguros Bolívar
Seguros Colpatria
Suramericana
Demographic Forecast
Table: Population Headline Indicators (Colombia 1990-2025)
Table: Key Population Ratios (Colombia 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Colombia 1990-2025)
Table: Population By Age Group (Colombia 1990-2025)
Table: Population By Age Group % (Colombia 1990-2025)
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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