Colombia Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in Colombia industry profile provides top-line qualitative and quantitative summary information including: market size (value 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 non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
- The Colombian non-life insurance market had a total gross-written premium total gross written premiums of $6.6 billion in 2022, representing a compound annual growth rate (CAGR) of 6.7% between 2017 and 2022.
- The Motor segment accounted for market's the largest proportion in 2022, with total gross written premiums of $2.6 billion, equivalent to 38.6% of the market's overall value.
- The Colombian economy faces substantial risks and trade-offs if inflation persists longer than anticipated, and customers' expenses increase in the future, which will also result in greater claim costs for non-life insurance companies.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Colombia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Colombia
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Colombia non-life insurance market with five year forecasts
- What was the size of the Colombia non-life insurance market by value in 2022?
- What will be the size of the Colombia non-life insurance market in 2027?
- What factors are affecting the strength of competition in the Colombia non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Colombia's non-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. How has the COVID-19 outbreak impacted the market?
- 8 Company Profiles
- 8.1. AXA SA
- 8.2. Grupo Bolivar SA
- 8.3. La Previsora S.A, Compania de Seguros
- 8.4. Seguros Generales Suramericana
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. About MarketLine
- List of Tables
- Table 1: Colombia non-life insurance market value: $ billion, 2017-22(e)
- Table 2: Colombia non–life insurance market category segmentation: % share, by value, 2017–2022(e)
- Table 3: Colombia non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: Colombia non–life insurance market geography segmentation: $ billion, 2022(e)
- Table 5: Colombia non-life insurance market value forecast: $ billion, 2022-27
- Table 6: Colombia non-life insurance market share: % share, by value, 2022(e)
- Table 7: AXA SA: key facts
- Table 8: AXA SA: Annual Financial Ratios
- Table 9: AXA SA: Key Employees
- Table 10: AXA SA: Key Employees Continued
- Table 11: AXA SA: Key Employees Continued
- Table 12: Grupo Bolivar SA: key facts
- Table 13: Grupo Bolivar SA: Annual Financial Ratios
- Table 14: Grupo Bolivar SA: Key Employees
- Table 15: La Previsora S.A, Compania de Seguros: key facts
- Table 16: La Previsora S.A, Compania de Seguros: Key Employees
- Table 17: Seguros Generales Suramericana: key facts
- Table 18: Seguros Generales Suramericana: Key Employees
- Table 19: Colombia size of population (million), 2018–22
- Table 20: Colombia gdp (constant 2005 prices, $ billion), 2018–22
- Table 21: Colombia gdp (current prices, $ billion), 2018–22
- Table 22: Colombia inflation, 2018–22
- Table 23: Colombia consumer price index (absolute), 2018–22
- Table 24: Colombia exchange rate, 2017–21
- List of Figures
- Figure 1: Colombia non-life insurance market value: $ billion, 2017-22(e)
- Figure 2: Colombia non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: Colombia non–life insurance market geography segmentation: % share, by value, 2022(e)
- Figure 4: Colombia non-life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the non-life insurance market in Colombia, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in Colombia, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in Colombia, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Colombia, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Colombia, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Colombia, 2022
- Figure 11: Colombia non-life insurance market share: % share, by value, 2022(e)
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