Reinsurance in Colombia, Key Trends and Opportunities to 2021

Synopsis
Timetric's 'Reinsurance in Colombia, Key Trends and Opportunities to 2021' report provides detailed analysis of the market trends, drivers and challenges in the Colombian reinsurance segment. 

It provides values for key performance indicators such as written premium, reinsurance ceded and reinsurance accepted during the review period (2012-2016) and forecast period (2016-2021).

The report also analyses information pertaining to the competitive landscape in the country, gives a comprehensive overview of the Colombian economy and demographics, and provides detailed analysis of natural hazards and their impact on the Colombian insurance industry. 

The report brings together Timetric's research, modeling and analysis expertise to enable reinsurers to identify segment dynamics and competitive advantages, and access profiles of reinsurers operating in the country.

Summary

Timetric's 'Reinsurance in Colombia, Key Trends and Opportunities to 2021' report provides in-depth market analysis, information and insights into the Colombian reinsurance segment, including:

• An outlook of the Colombian reinsurance segment

• A comprehensive overview of the Colombian economy and demographics 

• Detailed analysis of natural hazards and their impact on the Colombian insurance industry

• The competitive landscape in the Colombian reinsurance segment 

Scope

This report provides a comprehensive analysis of the reinsurance segment in Colombia:

• It provides historical values for the Colombian reinsurance segment for the report's 2012-2016 review period, and projected figures for the 2016-2021 forecast period.

• It offers a detailed analysis of the key categories in the Colombian reinsurance segment, and market forecasts to 2021.

• It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Colombia, and the reinsurance segment's growth prospects.

• It analyzes various natural and man-made hazards and their impact on the Colombian insurance industry


Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Colombian reinsurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Colombian reinsurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Colombian insurance industry, and their impact on companies and the industry's future.
Key Highlights

• In February 2017, Superintendencia Financiera de Colombia (SFC) approved the catastrophe modeling services for earthquake risks developed by a catastrophe risk management firm, Risk Management Solutions, and the earthquake model developed by catastrophe modeling firm Air Worldwide (Air). 

• In January 2017, Brazilian reinsurer, Terra Brasis Re started operations in Colombia, and became the first Brazilian reinsurer to set up an office in the country.

• In December 2016, the Colombian government passed Law 1819, which introduced a 1% withholding tax on reinsurance premiums ceded to non-resident entities.

• In 2015, the regulator increased tax rates for those foreign entities not permanently established in the country, going from 33.0% in 2014 to 39.0% in 2015.