Colombia Insurance Sector Report 2021-2022

Between 2010 and 2019, written insurance premiums in Colombia grew at an average yearly rate of 6.1% in real terms, nearly doubling the country’s GDP average increase of 3.7% per year in the same period. As a result, penetration levels, which measure the insurance sector’s share in the overall economy, have grown continually, reaching 2.84% at the end of 2019, up from 2.4% at the start of the decade. However, the COVID-19 outbreak stopped the sector’s surge in 2020, causing the first decrease in written premiums in real terms since 2014. Nonetheless, the sector was among the least impacted of the Colombian economy, whose GDP fell by 6.8% y/y in constant prices in 2020, resulting in yet another increase in penetration, up to 3.04% at end-2020.​

This report provides a complete and detailed analysis of the insurance sector for Colombia. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the insurance sector in Colombia
• Access forecasts for growth in the sector
• View key data on insurance premiums and claims in Colombia.
• Crystallise the forces both driving and restraining this sector in Colombia
• Assess market share for the life insurance, non-life and reinsurance sectors
• Ascertain Colombia’s position in the global sector
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in Colombia
• Build a clear picture of trends and issues for sub-sectors (life insurance, non-life insurance, reinsurance) and for retail channels.

See below for a complete table of report contents: