Colombia Insurance Report - Q2 2025

Abstract

There is long-term growth potential in the Colombia insurance sector, with the market currently characterised by low penetration and density rates. As more affordable products are introduced and incomes increase, individuals who are currently without coverage are likely to be attracted to the sector. A growing middle class will drive demand for new insurance, with the non-life sub-sector benefitting from demand beyond mandatory and basic lines, along with life insurance growing due to increased interest in savings options for retirement.