Personal Accident and Health Insurance in Colombia, Key Trends and Opportunities to 2019

Date: 2015-11

“• The Colombian personal accident and health segment’s gross written premium increased at a review-period CAGR of 14.7%.

• During the review period, factors such as regulatory changes, a rise in the number of fatal road traffic accidents and sustainable economic development had a favorable impact on the growth of the personal accident and health segment.

• A rise in the number of outbound travelers and increasing medical expenses also contributed to the segment’s growth.

• Health insurance was one of the segment’s fastest-growing categories, with a review-period CAGR of 25.2%.

• On February 16, 2015, the Statutory Health Law; Law 1751 was passed, under which the “right to healthcare” became a fundamental right of all Colombian citizens.

• This is expected to generate demand for healthcare insurance over the forecast period.”

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