Colombia Insurance Sector Report 2023-2024

The insurance sector in Colombia is a competitive market with established players of both local and foreign origin. Slowly, but steadily, insurance products are gaining relevance in Colombia, leading the sector to outgrow the national economy each year since 2017. This has caused the penetration rate of insurance (defined as premiums written as a proportion of country GDP) to consistently grow from 2.5% in 2014, to 3% in 2021. This continued in 2022, when the sector's premiums written amounted to 3.2% of the country's GDP, putting Colombia among the leaders in Latin America in terms of insurance penetration.

This report provides a complete and detailed analysis of the "Banking and 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 "Banking and insurance" sector in Colombia
• Crystallise the forces both driving and restraining this sector in Colombia
• Ascertain Colombia’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• 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, output and consumption for specific sub-sectors