Country Focus: Colombia

Key statistics:

• Population of 51 million with a median age of 31.3
• Fourth-largest economy in Latin America
• Insurance penetration rate of 3.1%

While insurance penetration in Colombia remains low, the microinsurance market has significant upside potential given the country’s track record of prudent macroeconomic and fiscal management, a progressive regulatory environment, favourable demographics and a strong commitment from the public and private sectors to create a more dynamic market for inclusive insurance.

With...