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FRISS and Guidewire Software, Inc. (NYSE: GWRE) announced last week that SURA Colombia (SURA) has deployed its integrated claims fraud detection program for motor personal lines with the FRISS accelerator for Guidewire ClaimCenter. According to FRISS, SURA Colombia is the first...

Austral Re and Terra Brasis Re announced today that they have signed an investment agreement to merge their activities. This union will result in the second-largest Brazilian reinsurer in terms of reinsurance premiums underwritten (R$ 672 million in combined gross premiums...

While the insurance market in Colombia grew at a rate of 5.5% in 2018, Aseguradora Solidaria stood out with a growth rate of 18.8%, led by growth in personal lines. Carlos Arturo Guzmán, (above) president of the company, revealed: “the truth was a year of very good results,...

Though lower profitability won't affect the ratings of most reinsurers, "a couple of highly leveraged companies could suffer downgrades," stated Fitch.

The policies offered by Nespresso's pilot program are designed for small farms vulnerable to weather fluctuations, price drops, and crop blight.

"The award is a testament to the market’s appetite for our risk models, analytics, and insight,” said Victor Roldán of RMS.

The collaboration will bring onboard "telematics" to user vehicles to track driving performance and help Sura better price its policies.

In Colombia, life insurance remains heavily concentrated, with five companies writing nearly two-thirds of premiums in 2015.

"The potential to grow in Colombia is immense," said President Santos.

"We continue to see an influx of competitors, which is a sign of the Colombia's enduring appeal," says Axel Brohm of Swiss Re.