Colombia Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Life Insurance in Colombia industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The Colombian life insurance market had total gross written premiums of $3.1 billion in 2022, representing a compound annual growth rate (CAGR) of 6.8% over 2017-2022.
- The life insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $2.5 billion, equivalent to 80.9% of the market's overall value.
- The COVID-19 pandemic had a dramatic impact on many markets around the world, including life insurance.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Colombia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Colombia
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Colombia life insurance market with five year forecasts by both value and volume
- What was the size of the Colombia life insurance market by value in 2022?
- What will be the size of the Colombia life insurance market in 2027?
- What factors are affecting the strength of competition in the Colombia life insurance market?
- How has the market performed over the last five years?
- Who are the top competitiors in Colombia's life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. What has been the rationale behind recent M&A activity?
- 7.5. Scope of new entrants in the market?
- 8 Company Profiles
- 8.1. Seguros Alfa SA
- 8.2. Compania De Seguros Bolivar SA
- 8.3. Seguros Generales Suramericana
- 8.4. Global Seguros de Vida SA
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Colombia life insurance market value: $ billion, 2017-22
- Table 2: Colombia life insurance market category segmentation: % share, by value, 2017–2022
- Table 3: Colombia life insurance market category segmentation: $ billion, 2017-2022
- Table 4: Colombia life insurance market geography segmentation: $ billion, 2022
- Table 5: Colombia life insurance market value forecast: $ billion, 2022-27
- Table 6: Colombia life insurance market share: % share, by value, 2022
- Table 7: Seguros Alfa SA: key facts
- Table 8: Seguros Alfa SA: Key Employees
- Table 9: Compania De Seguros Bolivar SA: key facts
- Table 10: Compania De Seguros Bolivar SA: Key Employees
- Table 11: Seguros Generales Suramericana: key facts
- Table 12: Seguros Generales Suramericana: Key Employees
- Table 13: Global Seguros de Vida SA: key facts
- Table 14: Colombia size of population (million), 2018–22
- Table 15: Colombia gdp (constant 2005 prices, $ billion), 2018–22
- Table 16: Colombia gdp (current prices, $ billion), 2018–22
- Table 17: Colombia inflation, 2018–22
- Table 18: Colombia consumer price index (absolute), 2018–22
- Table 19: Colombia exchange rate, 2017–21
- List of Figures
- Figure 1: Colombia life insurance market value: $ billion, 2017-22
- Figure 2: Colombia life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: Colombia life insurance market geography segmentation: % share, by value, 2022
- Figure 4: Colombia life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the life insurance market in Colombia, 2022
- Figure 6: Drivers of buyer power in the life insurance market in Colombia, 2022
- Figure 7: Drivers of supplier power in the life insurance market in Colombia, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Colombia, 2022
- Figure 9: Factors influencing the threat of substitutes in the life insurance market in Colombia, 2022
- Figure 10: Drivers of degree of rivalry in the life insurance market in Colombia, 2022
- Figure 11: Colombia life insurance market share: % share, by value, 2022
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