Colombia Insurance Report - Business Monitor International - Industry Reports

Colombia Insurance Report

Colombia Insurance Report - Business Monitor International - Industry Reports
Colombia Insurance Report
Published Jul 09, 2016
56 pages — Published Jul 09, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

� Business Monitor International Ltd Page -- country s retirement age population is forecast to expand steadily over the medium term: from just under -.-mn people in ----, the number of residents aged -- and over is forecast to reach over -mn by ----. This environment should create further opportunities for life insurers going forward in a country where pension provision is noticeably limited by international standards. A recent study by Universidad de Rosario estimated that only about -- of Colombian workers were putting money aside for their retirement. Growing demand for private pension provision, combined with a general increase in the popularity of savings and investment products should result in increased demand for life insurance products, as has already been seen to be the case in recent years. The life sector will also receive a boost from improvements to average household income rates. ...The life sector will also receive a boost from improvements to average household income rates. While the majority of households will remain in the lower income brackets (USD-,--- to USD-,---), we do expect to see growth in the key USD--,--- to USD--,--- income bracket where affordability of life products will be greatly improved.

...growing household incomes and increasing demand by companies for group products) and supply factors (eg. ...Currency movements do mean we expect to see a short-term contraction in premiums when measured in US dollar terms in ----, to USD-.-mn. Taking a medium-term view, we note that all the leading players are either subsidiaries of global or regional multi-nationals who clearly have a commitment to Colombia, or elements of the major indigenous financial services groups. In short, it is likely that the amount of capital that is available to the segment, and the efforts that are taken to market products, will increase. ...These include rising life expectancies and a rising morbidity among the country s growing retirement-age population.

...Colombia s Grupo Sura has been given regulatory permission from the Mexican insurance regulator CNSF for the acquisition of UK-based RSA s local subsidiaries (in Argentina, Brazil, Chile, Mexico and Uruguay). The sale was agreed in ---- for the amount of USD---mn and will expand Grupo Sura s footprint in the region. ...The sale was agreed in ---- for the amount of USD---mn and will expand Grupo Sura s footprint in the region. We are forecasting healthy growth in Colombia s non-life insurance market, with premiums forecast to grow from USD-.-bn in ---- to USD-.-bn in ----. As a result we expect to see a slight improvement in non-life penetration, from -.- to -.- (against GDP). ...

  
Source:
Document ID
2055-4206
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Colombia Insurance Report" Jul 09, 2016. Alacra Store. Dec 11, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Colombia-Insurance-Report-2026-1530>
  
APA:
Business Monitor International - Industry Reports. (2016). Colombia Insurance Report Jul 09, 2016. New York, NY: Alacra Store. Retrieved Dec 11, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Colombia-Insurance-Report-2026-1530>
  
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