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

Published By :

Timetric

Published Date : Oct 2015

Category :

Health Insurance

No. of Pages : 120 Pages

Timetric

Table of Content

1 Key Facts and Highlights

2 Executive Summary

3 Introduction

3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 Economy and Demographics

5 Personal Accident and Health Insurance Segment Outlook

5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Personal Accident and Health Insurance Growth Prospects by Category
5.4.1 Personal accident insurance
5.4.2 Health insurance
5.4.3 Non-life health insurance
5.4.4 Life health insurance

6 Analysis by Distribution Channel

7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Leading Companies in the Colombian Personal Accident and Health Insurance Segment
7.2.1 Suramericana de Seguros de Vida SA – company overview
7.2.2 Allianz Seguros de Vida SA – company overview
7.2.3 Ace Seguros SA (Colombia) – company overview
7.2.4 Compañía de Seguros Bolívar SA – company overview
7.2.5 Cardif Colombia Seguros Generales SA – company overview
7.2.6 MetLife Colombia Seguros de Vida SA – company overview
7.2.7 Liberty Seguros SA – company overview
7.2.8 Mapfre Colombia Vida Seguros SA – company overview
7.2.9 Axa Colpatria Seguros De Vida SA – company overview
7.2.10 Seguros de Vida Alfa SA – company overview

8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulations
8.3 Legislation and Market Practice by Type of Insurances
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Workers’ compensation insurance
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors (IAIS)
8.5.2 Association of Insurance Supervisors Latin America
8.5.3 Financial Superintendence of Colombia (SFC)
8.5.4 Federación de Aseguradores Colombianos (Fasecolda)
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Types of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margins
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)

9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric’s Services
9.5 Disclaimer

List of Table

Table 1: Colombian Personal Accident and Health Insurance – Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: Colombian Government Credit Ratings
Table 4: Colombian Personal Accident and Health Insurance – Gross Written Premium by Category (COP Billion), 2010–2014
Table 5: Colombian Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Million), 2010–2014
Table 6: Colombian Personal Accident and Health Insurance – Gross Written Premium by Category (COP Billion), 2014–2019
Table 7: Colombian Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Million), 2014–2019
Table 8: Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (COP Billion), 2010–2014
Table 9: Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2010–2014
Table 10: Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (COP Billion), 2014–2019
Table 11: Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Million), 2014–2019
Table 12: Colombian Personal Accident and Health Insurance – Net Earned Premium (COP Trillion), 2010–2014
Table 13: Colombian Personal Accident and Health Insurance – Net Earned Premium (COP Trillion), 2014–2019
Table 14: Colombian Personal Accident and Health Insurance – Paid Claims by Category (COP Billion), 2010–2014
Table 15: Colombian Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2010–2014
Table 16: Colombian Personal Accident and Health Insurance – Paid Claims by Category (COP Billion), 2014–2019
Table 17: Colombian Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2014–2019
Table 18: Colombian Personal Accident and Health Insurance – Incurred Loss by Category (COP Billion), 2010–2014
Table 19: Colombian Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2010–2014
Table 20: Colombian Personal Accident and Health Insurance – Incurred Loss by Category (COP Billion), 2014–2019
Table 21: Colombian Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2014–2019
Table 22: Colombian Personal Accident and Health Insurance – Net Written Premium by Category (COP Billion), 2010–2014
Table 23: Colombian Personal Accident and Health Insurance – Net Written Premium by Category (US$ Million), 2010–2014
Table 24: Colombian Personal Accident and Health Insurance – Net Written Premium by Category (COP Billion), 2014–2019
Table 25: Colombian Personal Accident and Health Insurance – Net Written Premium by Category (US$ Million), 2014–2019
Table 26: Colombian Personal Accident and Health Insurance – Loss Ratio (%), 2010–2014
Table 27: Colombian Personal Accident and Health Insurance – Loss Ratio (%), 2014–2019
Table 28: Colombian Personal Accident and Health Insurance – Commission and Expenses (COP Billion), 2010–2014
Table 29: Colombian Personal Accident and Health Insurance – Commission and Expenses (COP Billion), 2014–2019
Table 30: Colombian Personal Accident and Health Insurance – Combined Ratio (%), 2010–2014
Table 31: Colombian Personal Accident and Health Insurance – Combined Ratio (%), 2014–2019
Table 32: Colombian Personal Accident and Health Insurance – Total Assets (COP Trillion), 2010–2014
Table 33: Colombian Personal Accident and Health Insurance – Total Assets (COP Trillion), 2014–2019
Table 34: Colombian Personal Accident and Health Insurance – Total Investment Income (COP Billion), 2010–2014
Table 35: Colombian Personal Accident and Health Insurance – Total Investment Income (COP Billion), 2014–2019
Table 36: Colombian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2010–2014
Table 37: Colombian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2014–2019
Table 38: Colombian Personal Accident Insurance – Direct Written Premium (COP Billion), 2010–2014
Table 39: Colombian Personal Accident Insurance – Direct Written Premium (COP Billion), 2014–2019
Table 40: Colombian Personal Accident Insurance – Loss Ratio (%), 2010–2014
Table 41: Colombian Personal Accident Insurance – Loss Ratio (%), 2014–2019
Table 42: Colombian Health Insurance – Gross Written Premium by Sub-Category (COP Billion), 2010–2014
Table 43: Colombian Health Insurance – Gross Written Premium by Sub-Category (US$ Million), 2010–2014
Table 44: Colombian Health Insurance – Gross Written Premium by Sub-Category (COP Billion), 2014–2019
Table 45: Colombian Health Insurance – Gross Written Premium by Sub-Category (US$ Million), 2014–2019
Table 46: Colombian Non-Life Health Insurance – Direct Written Premium (COP Billion), 2010–2014
Table 47: Colombian Non-Life Health Insurance – Direct Written Premium (COP Billion), 2014–2019
Table 48: Colombian Non-Life Health Insurance – Paid Claims (COP Billion), 2010–2014
Table 49: Colombian Non-Life Health Insurance – Paid Claims (COP Billion), 2014–2019
Table 50: Colombian Non-Life Health Insurance – Loss Ratio (%), 2010–2014
Table 51: Colombian Non-Life Health Insurance – Loss Ratio (%), 2014–2019
Table 52: Colombian Non-Life Health Insurance – Net Written Premium (COP Billion), 2010–2014
Table 53: Colombian Non-Life Health Insurance – Net Written Premium (COP Billion), 2014–2019
Table 54: Colombian Life Health Insurance – Direct Written Premium (COP Billion), 2010–2014
Table 55: Colombian Life Health Insurance – Direct Written Premium (COP Billion), 2014–2019
Table 56: Colombian Life Health Insurance – Paid Claims (COP Billion), 2010–2014
Table 57: Colombian Life Health Insurance – Paid Claims (COP Billion), 2014–2019
Table 58: Colombian Life Health Insurance – Loss Ratio (%), 2010–2014
Table 59: Colombian Life Health Insurance – Loss Ratio (%), 2014–2019
Table 60: Colombian Life Health Insurance – Net Written Premium (COP Billion), 2010–2014
Table 61: Colombian Life Health Insurance – Net Written Premium (COP Billion), 2014–2019
Table 62: Colombian Personal Accident and Health Insurance – Segment Shares (%), 2014
Table 63: Suramericana de Seguros de Vida SA – Key Facts
Table 64: Suramericana de Seguros de Vida SA – Key Financials (COP Billion), 2010–2014
Table 65: Allianz Seguros de Vida SA – Key Facts
Table 66: Allianz Seguros de Vida SA – Key Financials (COP Million), 2010–2014
Table 67: Ace Seguros SA (Colombia) – Key Facts
Table 68: Ace Seguros SA (Colombia) – Key Financials (COP Million), 2010–2014
Table 69: Compañía de Seguros Bolívar SA – Key Facts
Table 70: Compañía de Seguros Bolívar SA – Key Financials (COP Million), 2010–2014
Table 71: Cardif Colombia Seguros Generales SA – Key Facts
Table 72: Cardif Colombia Seguros Generales SA – Key Financials (COP Million), 2010–2014
Table 73: MetLife Colombia Seguros de Vida SA – Key Facts
Table 74: MetLife Colombia Seguros de Vida SA – Key Financials (COP Million), 2011–2014
Table 75: Liberty Seguros Colombia – Key Facts
Table 76: Liberty Seguros Colombia – Key Financials (COP Million), 2010–2014
Table 77: Mapfre Colombia Vida Seguros SA – Key Facts
Table 78: Mapfre Colombia Vida Seguros SA – Key Financials (COP Billion), 2010–2014
Table 79: Axa Colpatria Seguros De Vida SA – Key Facts
Table 80: Axa Colpatria Seguros De Vida SA – Key Financials (COP Million), 2010–2014
Table 81: Seguros de Vida Alfa SA – Key Facts
Table 82: Seguros de Vida Alfa SA – Key Financials (COP Million), 2010–2014
Table 83: Colombia – Insurance Regulatory Framework Key Features
Table 84: Colombia – Life Insurance Regulatory Framework
Table 85: Colombia – Property Insurance Regulatory Framework
Table 86: Colombia – Motor Insurance Regulatory Framework
Table 87: Colombia – Liability Insurance Regulatory Framework
Table 88: Colombia – Corporate Tax Rates for the Financial Year 2015

List of Chart

Figure 1: Colombian Real GDP (COP Trillion), 2010–2019
Figure 2: Colombian COP–US$ Exchange Rate, 2010–2019
Figure 3: Colombian Consumer Price Inflation (%), 2010–2019
Figure 4: Colombian Current Account Balance as Percentage of GDP, 2010–2019
Figure 5: Colombian Unemployment Rate (%), 2010–2019
Figure 6: Colombian Population by Age Group, 1990–2025
Figure 7: Colombian Personal Accident and Health Insurance – Gross Written Premium by Category (COP Trillion), 2010–2019
Figure 8: Colombian Personal Accident and Health Insurance – Gross Written Premium by Category (Percentage Share), 2014 and 2019
Figure 9: Colombian Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2010–2019
Figure 10: Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (COP Trillion), 2010–2019
Figure 11: Colombian Personal Accident and Health Insurance – Direct Written Premium by Category (Percentage Share), 2014 and 2019
Figure 12: Colombian Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2010–2019
Figure 13: Colombian Personal Accident and Health Insurance – Net Earned Premium (COP Trillion), 2010–2014
Figure 14: Colombian Personal Accident and Health Insurance – Net Earned Premium (COP Trillion), 2014–2019
Figure 15: Colombian Personal Accident and Health Insurance – Paid Claims by Category (COP Trillion), 2010–2019
Figure 16: Colombian Personal Accident and Health Insurance – Incurred Loss by Category (COP Trillion), 2010–2019
Figure 17: Colombian Personal Accident and Health Insurance – Net Written Premium by Category (COP Trillion), 2010–2019
Figure 18: Colombian Personal Accident and Health Insurance – Loss Ratio (%), 2010–2014
Figure 19: Colombian Personal Accident and Health Insurance – Loss Ratio (%), 2014–2019
Figure 20: Colombian Personal Accident and Health Insurance – Commission and Expenses (COP Billion), 2010–2014
Figure 21: Colombian Personal Accident and Health Insurance – Commission and Expenses (COP Billion), 2014–2019
Figure 22: Colombian Personal Accident and Health Insurance – Combined Ratio (%), 2010–2014
Figure 23: Colombian Personal Accident and Health Insurance – Combined Ratio (%), 2014–2019
Figure 24: Colombian Personal Accident and Health Insurance – Total Assets (COP Trillion), 2010–2014
Figure 25: Colombian Personal Accident and Health Insurance – Total Assets (COP Trillion), 2014–2019
Figure 26: Colombian Personal Accident and Health Insurance – Total Investment Income (COP Billion), 2010–2014
Figure 27: Colombian Personal Accident and Health Insurance – Total Investment Income (COP Billion), 2014–2019
Figure 28: Colombian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2010–2014
Figure 29: Colombian Personal Accident and Health Insurance – Net Written Premium (% of GWP), 2014–2019
Figure 30: Colombian Personal Accident and Health Insurance – Investment Portfolio (COP Trillion), 2010–2014
Figure 31: Colombian Personal Accident and Health Insurance – Investment Portfolio (% Share), 2010 and 2014
Figure 32: Colombian Personal Accident and Health Insurance Penetration (Ratio of Direct Premiums to GDP), 2010–2014
Figure 33: Colombian Personal Accident and Health Insurance – Density (Direct Premium per Capita), 2010–2014
Figure 34: Colombian Personal Accident Insurance – Direct Written Premium (COP Billion), 2010–2014
Figure 35: Colombian Personal Accident Insurance – Direct Written Premium (COP Billion), 2014–2019
Figure 36: Colombian Personal Accident Insurance – Loss Ratio (%), 2010–2014
Figure 37: Colombian Personal Accident Insurance – Loss Ratio (%), 2014–2019
Figure 38: Colombian Health Insurance – Gross Written Premium by Sub-Category (COP Trillion), 2010–2019
Figure 39: Colombian Health Insurance – Gross Written Premium Dynamics by Sub-Category, 2010–2019
Figure 40: Colombian Non-Life Health Insurance – Direct Written Premium (COP Billion), 2010–2014
Figure 41: Colombian Non-Life Health Insurance – Direct Written Premium (COP Billion), 2014–2019
Figure 42: Colombian Non-Life Health Insurance – Paid Claims (COP Billion), 2010–2014
Figure 43: Colombian Non-Life Health Insurance – Paid Claims (COP Billion), 2014–2019
Figure 44: Colombian Non-Life Health Insurance – Loss Ratio (%), 2010–2014
Figure 45: Colombian Non-Life Health Insurance – Loss Ratio (%), 2014–2019
Figure 46: Colombian Non-Life Health Insurance – Net Written Premium (COP Billion), 2010–2014
Figure 47: Colombian Non-Life Health Insurance – Net Written Premium (COP Billion), 2014–2019
Figure 48: Colombian Life Health Insurance – Direct Written Premium (COP Billion), 2010–2014
Figure 49: Colombian Life Health Insurance – Direct Written Premium (COP Billion), 2014–2019
Figure 50: Colombian Life Health Insurance – Paid Claims (COP Billion), 2010–2014
Figure 51: Colombian Life Health Insurance – Paid Claims (COP Billion), 2014–2019
Figure 52: Colombian Life Health Insurance – Loss Ratio (%), 2010–2014
Figure 53: Colombian Life Health Insurance – Loss Ratio (%), 2014–2019
Figure 54: Colombian Life Health Insurance – Net Written Premium (COP Billion), 2010–2014
Figure 55: Colombian Life Health Insurance – Net Written Premium (COP Billion), 2014–2019
Figure 56: Colombian Personal Accident and Health Insurance – Segment Shares (%), 2014
Figure 57: Colombia – Insurance Supervision and Control at Various Levels
Figure 58: Colombia – Insurance Regulatory Frameworks for Company Registration and Operation

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