Non-Life Insurance in Colombia, Key Trends and Opportunities to 2018

Date: 2015-09

Driven by strong public spending, economic growth, developing infrastructure and the oil, gas and mining industries, the Colombian non-life insurance segment posted a compound annual growth rate (CAGR) of 10.8% over the review period (2009−2013), in terms of gross written premium. This growth was further attributed by regulatory changes and a string of floods, which forced property owners to protect their properties through extensive insurance coverage. These factors are also expected to encourage the growth of the non-life insurance segment over the forecast period (2013−2018). As a result, the segment’s written premium is expected to increase at a projected forecast-period CAGR of 7.3%.

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