Colombia Insurance Q3 2018
Colombia’s insurance market is relatively well developed, though rates of coverage in both the life and non-life sectorsremain low, reflecting a market where income inequality is still a major structural impediment. As formal employment rates improve,driving up average household income rates, we expect to see greater demand for a range of products, including savings andprotection lines, in the life sector. In the non-life sector, covers will remain dominated by mandatory lines in the motor and propertysegments.
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