Recently published research from Timetric, "Reinsurance in Colombia, Key Trends and Opportunities to 2017", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/21/2013 -- Although the Colombian reinsurance segment registered strong growth at a CAGR of 34.9% during the review period (2008-2012), it is in its initial phases of development. Only foreign reinsurers currently operate in the country; multinational reinsurers, such as SCOR, Mapfre, Hannover and Munich Re have established operations but direct business through their representative offices and brokers. Swiss Re is in the process of establishing representative offices in Bogota. In June 2013, the government permitted domestic companies to make reinsurance arrangements with international companies that were not operating or established within Colombia. By increasing insurance companies' options, this will make the segment more competitive.
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- The Colombian reinsurance segment registered strong growth at a CAGR of 34.9% during the review period (2008-2012)
- The La Nina phenomenon caused over US$500 million worth of losses to the insurance industry in 2011, which adversely affected the reinsurance segment as industry losses were partially distributed among reinsurers
- In June 2013, the government of Colombia allowed its domestic companies to make reinsurance arrangements with international companies not operating, or established in, Colombia. This is likely to make the reinsurance segment more competitive as it will provide insurers with more options
- The Colombian reinsurance segment is highly competitive, as it contains leading multinational reinsurance companies
This report provides a comprehensive analysis of the reinsurance segment in Colombia:
- It provides historical values for Colombia's reinsurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Colombia's reinsurance segment, along with market forecasts until 2017
- It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Colombia and its growth prospects
Reasons to Get This Report
- Make strategic business decisions using in depth historic and forecast market data related to the Colombian reinsurance segment and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Colombian reinsurance segment
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Colombian insurance industry and its impact on companies and the market's future
Companies Mentioned in this Report: SCOR Re, Mapfre Re, Hannover Ruckversicherung AG, Munchener de Colombia SA
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