...Stable Rating, Sector Outlook: Fitch Ratings' sector and rating outlooks for the Colombian insurance industry are stable. There is a high likelihood Fitch will affirm the ratings of most Colombian insurance companies in 2016, despite the challenging economic environment that will moderate growth projections. Regulatory changes in reserves may temporarily affect operating performance and leverage ratios. The industry's financial strength will remain adequate. Modest Growth: The sector should have growth of 12% by year-end 2015, aided by the accounting effect of the implementation of the International Financial Reporting Standard (IFRS). For 2016, Fitch expects modest premium growth of 6%¡8%. The slower growth will be in the social security and autos segments, while the compulsory auto liability and group life segments will be relatively steady. Surety bonds and construction all-risk segments have been below expectations, but they may promote growth in the execution of infrastructure projects....
