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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Colombian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Colombia's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Colombian non-life (P&C) market as well as trends by line of business. Axco analysts also report on Colombia's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Colombia's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Colombia, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Colombia, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Colombia with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The Colombian insurance market ranked 41st in the world in 2020 according to Axco Global Statistics, and 38th for non-life business, with Chile at 37th. Within Latin America Colombia ranked fifth, also behind Brazil, Mexico and Argentina. Total market premium income in 2020 was COP 31trn (USD 8.4bn).
Total market premium income in 2020 was COP 31trn (USD 8.4bn). Non-life business ....
This is a brief extract of information; more updated information may be available in the latest published report