Market Research Logo

Colombia Insurance Report Q4 2017

BMI View: The Colombian insurance market is at an intermediate stage of development and is poised forstrong growth over the next five years. Both the life and non-life sectors will benefit from strong economicgrowth and rising disposable income levels. Macroeconomic prowess in the country will be the crucialdriver propelling the insurance industry and rising household incomes will support numerous big ticketpurchases and lead to a higher demand for life and savings products. Additionally, regulatory changes willimprove Colombia's business environment and render it more attractive to foreign insurance companies interms of ease of doing business. As such, we expect to see a rise in the presence of multinational carriers inthe Colombian insurance landscape.

Key Updates and Forecasts

We have made changes to our historical data and revised our forecasts as we are now using the latestupdated insurance reporting methodologies.

Life insurance is set to see double-digit growth rates, in both currencies, over the next five years.Premiums are expected to increase at an average rate of 14.1% - from USD4.4bn in 2017 to USD6.8bn in2021. Local currency growth will also be strong, averaging 13.3% for the five year period between 2017and 2021. Life and savings demand growth will outpace non-life sector insurance growth over the nextfive years to 2021.


BMI Industry View
Table: Headline Insurance Forecasts (Colombia 2014-2021)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Colombia 2014-2021)
Table: Life Insurance Claims (Colombia 2009-2015)
Non-Life Premium Forecast
Table: Non-Life Premiums (Colombia 2014-2021)
Table: Non-Life Insurance Claims, Colombia (2007-2015)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums By Product Line (Colombia 2014-2021)
Insurance Risk/Reward Index
Latin America And The Caribbean Insurance Risk/Reward Index
Table: Latin America And The Caribbean Insurance Risk/Reward Index, Q4 2017
Market Overview
Life Market Overview
Product Offering
Competitive Landscape
Table: Colombia Life Insurance (USDmn)
Non-Life Market Overview
Product Offering
Competitive Landscape
Table: Non-Life Market, USDmn
Company Profile
MAPFRE
Liberty
Seguros Bolívar
Seguros Colpatria
Suramericana
Methodology
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report