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Personal Accident and Health Insurance in Colombia, Key Trends and Opportunities to 2021

Personal Accident and Health Insurance in Colombia, Key Trends and Opportunities to 2021

Synopsis

Timetric’s 'Personal Accident and Health 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, 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, 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 'Personal Accident and Health Insurance in Colombia, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Colombian personal accident and health insurance segment, including:

  • An overview of the Colombian personal accident and health insurance segment
  • The Colombian personal accident and health insurance segment’s growth prospects by category
  • A comprehensive overview of the Colombian economy and demographics
  • A comparison of the Colombian personal accident and health insurance segment with its regional counterparts
  • The various distribution channels in the Colombian personal accident and health insurance segment
  • Details of the competitive landscape in the personal accident and health insurance segment in Colombia
  • Details of regulatory policy applicable to the Colombian insurance industry
Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Colombia:
  • It provides historical values for the Colombian personal accident and health 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 personal accident and health insurance segment, and market forecasts to 2021.
  • It provides a comparison of the Colombian personal accident and health insurance segment with its regional counterparts
  • It provides an overview of the various distribution channels for personal accident and health insurance products in Colombia.
  • It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Colombian personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health 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 December 31, 2015, the International Financial Reporting Standards (IFRS) were fully implemented in Colombia.
  • On February 16, 2015, the Statutory Health Law was passed, under which healthcare became a fundamental right of all Colombian citizens.
  • In February 2015, the Colombian government approved banks and insurers to sell microinsurance policies, including personal accident through retailers, drugstores and superstores.
  • Colombia’s personal accident and health segment is concentrated, with the five leading companies accounting for 78.7% of gross written premium in 2016.


  • Key Facts and Highlights
    • Table Colombian Personal Accident and Health Insurance – Key Facts, 2016
    • Table Colombian Personal Accident and Health Insurance – Segment Shares of the Top Insurers, 2016
  • Executive Summary
  • Economy and Demography
    • Table Colombian Government Credit Ratings
  • Segment Outlook
    • Table Colombian Motor Insurance – Road Accidents, 2011–2015
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Colombian Personal Accident and Health Insurance – Gross Written Premium (COP Trillion and US$ Million), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Penetration (%), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Gross Written Premium (COP Trillion and US$ Million), 2016–2021
        • Table Colombian Personal Accident and Health Insurance – Penetration (%), 2016–2021
        • Table Colombian Personal Accident and Health Insurance – Premium per Capita (COP and US$), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Premium per Capita (COP and US$), 2016–2021
      • Active policies
        • Table Colombian Personal Accident and Health Insurance – Number of Active Policies (Million), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Number of Active Policies (Million), 2016–2021
      • Claims
        • Table Colombian Personal Accident and Health Insurance – Paid Claims (COP Billion and US$ Million), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Paid Claims (COP Trillion and US$ Million), 2016–2021
      • Profitability
        • Table Colombian Personal Accident and Health Insurance – Profitability Ratio (%), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Profitability Ratio (%), 2016–2021
      • Assets and investments
        • Table Colombian Personal Accident and Health Insurance – Total Assets (COP Trillion and US$ Billion), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Total Assets (COP Trillion and US$ Billion), 2016–2021
        • Table Colombian Personal Accident and Health Insurance – Total Investment Income (COP Billion and US$ Million), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Total Investment Income (COP Billion and US$ Million), 2016–2021
        • Table Colombian Personal Accident and Health Insurance – Investment Portfolio (COP Trillion), 2012–2016
        • Table Colombian Personal Accident and Health Insurance – Investment Portfolio (COP Trillion), 2016–2021
  • Outlook by Category
    • Table Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (COP Trillion), 2012–2016
    • Table Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (COP Trillion), 2016–2021
    • Personal Accident Insurance
      • Premium
        • Table Colombian Personal Accident Insurance – Direct Written Premium (COP Billion and US$ Million), 2012–2016
        • Table Colombian Personal Accident Insurance – Direct Written Premium (COP Trillion and US$ Million), 2016–2021
      • Active policies
        • Table Colombian Personal Accident Insurance – Number of Active Policies (Million), 2012–2016
        • Table Colombian Personal Accident Insurance – Number of Active Policies (Million), 2016–2021
      • Claims
        • Table Colombian Personal Accident Insurance – Paid Claims (COP Billion and US$ Million), 2012–2016
        • Table Colombian Personal Accident Insurance – Paid Claims (COP Billion and US$ Million), 2016–2021
      • Profitability
        • Table Colombian Personal Accident Insurance – Loss Ratio (%), 2012–2016
        • Table Colombian Personal Accident Insurance – Loss Ratio (%), 2016–2021
    • Health Insurance
      • Premium
        • Table Colombian Health Insurance – Direct Written Premium by Sub-Category (COP Billion), 2012–2016
        • Table Colombian Health Insurance – Direct Written Premium by Sub-Category (COP Billion), 2016–2021
      • Active policies
        • Table Colombian Health Insurance – Number of Active Policies by Sub-Category (Million), 2012–2016
        • Table Colombian Health Insurance – Number of Active Policies by Sub-Category (Million), 2016–2021
      • Claims
        • Table Colombian Health Insurance – Paid Claims (COP Billion and US$ Million), 2012–2016
        • Table Colombian Health Insurance – Paid Claims (COP Billion and US$ Million), 2016–2021
      • Profitability
        • Table Colombian Health Insurance – Loss Ratio (%), 2012–2016
        • Table Colombian Health Insurance – Loss Ratio (%), 2016–2021
  • Distribution Channel Outlook
  • Competitive Landscape
    • Table Colombian Personal Accident and Health Segment – Market Shares of Leading Insurers (%), 2016
    • Company Profiles
      • Seguros de Vida Suramericana SA – company overview
        • Table Seguros de Vida Suramericana SA – Key Facts
      • Allianz Seguros de Vida SA – company overview
        • Table Allianz Seguros de Vida SA – Key Facts
      • Cardif Colombia Seguros Generales SA – company overview
        • Table Cardif Colombia Seguros Generales SA – Key Facts
      • Bolivar Vida – company overview
        • Table Bolivar Vida – Key Facts
      • Chubb de Colombia Compañí a de Seguros SA – company overview
        • Table Chubb de Colombia Compañí a de Seguros SA – Key Facts
  • Governance, Risk and Compliance
    • Table Colombia – Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Colombia – Life Insurance Regulatory Framework
      • Property insurance
        • Table Colombia – Property Insurance Regulatory Framework
      • Motor insurance
        • Table Colombia – Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Colombia – Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workers' compensation insurance
      • Professional indemnity insurance for reinsurance brokers
      • Personal accident insurance for passengers of public vehicles
      • Liability insurance for Colombian Stock Exchange brokers
      • Liability insurance for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Association of Insurance Supervisors Latin America
      • Financial Superintendence of Colombia
      • Federación de Aseguradores Colombianos (Fasecolda)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
        • Table Colombia – Ratings Required For Registration Of Reinsurance Business
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxations
      • Withholding taxes on premium paid overseas.
      • Corporate tax
        • Table Colombia – Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Colombian Personal Accident and Health Insurance Industry – Policies and Premium, 2012–2016
      • Table Colombian Personal Accident and Health Insurance Industry – Policies and Premium, 2016–2021
    • Claims and Expenses
      • Table Colombian Personal Accident and Health Insurance – Claims and Expenses, 2012–2016
      • Table Colombian Personal Accident and Health Insurance – Claims and Expenses, 2016–2021
    • Assets and Investments
      • Table Colombian Personal Accident and Health Insurance – Assets and Investments, 2012–2016
      • Table Colombian Personal Accident and Health Insurance – Assets and Investments, 2016–2021
    • Personal Accident Insurance
      • Table Colombian Personal Accident and Health Insurance – Personal Accident Insurance, 2012–2016
      • Table Colombian Personal Accident and Health Insurance – Personal Accident Insurance, 2016–2021
    • Health Insurance
      • Table Colombian Personal Accident and Health Insurance – Health Insurance, 2012–2016
      • Table Colombian Personal Accident and Health Insurance – Health Insurance, 2016–2021
    • Health Insurance by Category
      • Table Colombian Personal Accident and Health Insurance – Health Insurance by Product, 2012–2016
      • Table Colombian Personal Accident and Health Insurance – Health Insurance by Product, 2016–2021
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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