Colombia Life Insurance Industry Trend, Size, Share and Forecast 2018
Most up-to-date research on "Life Insurance in Colombia, Key Trends and Opportunities to 2018" to its huge collection of research reports.
The report provides in-depth market analysis, information and insights into the Colombian life insurance segment, including:
- The Colombian life insurance segment’s growth prospects by life insurance category
- Key trends and drivers for the life insurance segment
- The various distribution channels in the Colombian life insurance segment
- The detailed competitive landscape in the life insurance segment in Colombia
- Detailed regulatory policies of the Colombian insurance industry
- A description of the life reinsurance segment in Colombia
- Porter's Five Forces analysis of the life insurance segment
- A benchmarking section on the Colombian life insurance segment in comparison with other countries in the Central and Latin American region
- OverviewTable of contentsList of tablesList of figures
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The Colombian life insurance segment recorded a compound annual growth rate (CAGR) of16.2% in terms of gross written premium during the review period (2009−2013). The segment’s performance was attributed to regulatory changes and the industry’s premium growth, the strong performance of the pension insurance category and the developing group life insurance business. These factors, along with the nation’s rise in per capita annual disposable income, are likely to generate business over the forecast period (2013−2018). As such, the segment’s gross written premium is expected to increase at a projected CAGR of 13.5% over the forecast period.
This report provides a comprehensive analysis of the life insurance segment in Colombia:
- It provides historical values for the Colombian life insurance segment for the report’s 2009–2013 review period and projected figures for the 2013–2018 forecast period.
- It offers a detailed analysis of the key categories in the Colombian life insurance segment, along with market forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
- It analyses the various distribution channels for life insurance products in Colombia.
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Colombia for the life insurance business.
- It provides a detailed analysis of the reinsurance segment in Colombia and its growth prospects.
- It profiles the top life insurance companies in Colombia and outlines the key regulations affecting them.
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Reasons to buy
- Make strategic business decisions using in depth historic and forecast market data related to the Colombian life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Colombian life insurance segment
- Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Colombian insurance industry and its impact on companies and the market's future
- Colombia’s life insurance penetration rose from 0.98% in 2009 to 1.26% in 2013, and is expected to reach 1.67% in 2018.
- During the review period, life insurance emerged as the largest segment in the industry, accounting for 47.4% of the gross written premium in 2013.
- E-commerce emerged as one of the fastest-growing distribution channels, registering a review period CAGR of 45.2%.
- Poverty is a key challenge in Columbia. In 2009, 46% of the total population was affected by poverty, and 29% were subject to extreme poverty.
- The government signed a free-trade agreement with the US, which came into effect in May 2012. This agreement will allow US insurers to establish branch offices and market insurance products under the supervision of Colombian regulatory authorities.
- The Colombian life insurance segment is expected to register a forecast-period CAGR of 13.5% in terms of gross written premiums.
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