Research and Markets: Personal Accident and Health Insurance in Colombia, Key Trends and Opportunities to 2017

Business Wire

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/xwfkpg/personal_accident) has announced the addition of the "Personal Accident and Health Insurance in Colombia, Key Trends and Opportunities to 2017" report to their offering.

Rising numbers of outbound travelers, sustainable economic development, and regulatory changes had a positive impact on the overall growth of the Colombian personal accident and health insurance segment during the review period. The segment grew at a CAGR of 8.9%, to reach a value of COP1.4 trillion (US$0.8 billion) in 2012. Rising medical expenses and increased numbers of fatal road traffic accidents were other contributors to the growth. In 2013, a new healthcare bill was submitted to Colombia's Senate Secretary to nationalize the country's healthcare system.

If approved, it is expected to generate significant business for health insurance. This, coupled with the projected positive economic trend, will support the growth of Colombian personal accident and health insurance over the forecast period. The segment's written premium is projected to increase from COP1.4 trillion (US$0.8 billion) in 2012 to COP2.2 trillion (US$1.2 billion) in 2017, at a forecast-period CAGR of 9.3%.

The report provides in depth market analysis, information and insights into the Colombian personal accident and health insurance segment, including:

- The Colombian personal accident and health insurance segment's growth prospects by insurance categories

- Key trends and drivers for the personal accident and health insurance segment

- The various distribution channels in the Colombian personal accident and health insurance segment

- Detailed competitive landscape in the personal accident and health insurance segment in Colombia

- A description of the personal accident and health reinsurance segment in Colombia

- Porter's Five Forces Analysis of the personal accident and health insurance segment

- Benchmarking section on the Colombian personal accident and health insurance segment in comparison to other countries in Central and Latin America

Key Highlights

- The segment grew at a CAGR of 8.9%, to reach a value of COP1.4 trillion (US$0.8 billion) in 2012

- In 2013, a new healthcare bill was submitted to Colombia's Senate Secretary to nationalize the country's healthcare system. If approved, it is expected to generate significant business for health insurance

- Colombia has one of the highest uninsured populations in Latin America

- The insurance industry is regulated and governed by the Financial Superintendence of Colombia (SFC). It functions under the Ministry of Finance, with legal, administrative and financial autonomy

- Colombia has a highly competitive personal accident and health insurance segment, which includes both domestic and foreign insurance companies

Companies Mentioned

Suramericana de Seguros SA

ACE Seguros

AIG Colombia Seguros de Vida

Metlife Colombia Seguros de Vida SA

Seguros del Estado SA

Mapfre Colombia

Liberty Seguros Colombia

Solidaria

RSA

Cardif

For more information visit http://www.researchandmarkets.com/research/xwfkpg/personal_accident

About Research and Markets

Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Contact:
Research and Markets
Laura Wood, Senior Manager.
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Insurance

Rates

View Comments