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The sustainability and profitability of compulsory auto liability auto insurance (SOAT) in Colombia will depend on the insurance industry’s effectiveness at stopping the upward trend in claims, which is being driven by technical fraud, the increased share of motorcycles in...

Switzerland & Colombia–(via Business Wire)–Accenture (NYSE:ACN) recently completed building and implementing a new core insurance information technology system for Zurich Insurance Group (ZURN, OTCQX: ZURVY), marking the insurer’s entrance into the property and...

Bogotá, Colombia–(Business WIre)– Fitch Ratings has announced that its Sector and Rating Outlooks for the Colombian insurance industry are currently stable, and that there is a high likelihood Fitch will affirm the ratings of most Colombian insurance companies in...

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc (NYSE:AON), has announced that Sergio Rivera Jiménez is the new CEO of Aon Benfield Colombia Reporting to Alejandro Galizia, CEO of Aon Benfield Latin America, Mr. Rivera brings extensive...

During the ORP 2015 International Occupational Risk Prevention Congress in Santiago, Chile, Bogota based insurer Colmena Seguros was recognized for its efforts in occupational risk mitigation. ORP (Occupational Risk Prevention) is an international event seeking to reduce...

Medellín based Grupo SURA´s insurance and risk management subsidiary, Suramericana S.A., has announced that it has reached a definite agreement to acquire RSA Insurance Group PLC´s operations in Latin America, for a total of £403 million British pounds, representing COP 1.91...

The international division of Arthur J. Gallagher & Co. (NYSE: AJG) has announced that it has signed an agreement to acquire a controlling stake in the Colombian retail insurance broker Guianza S.A. Corredores de Seguros (Guianza), subject to regulatory approval. The...

MAPFRE, the Spanish based global insurer, has named José Carpio as the new CEO for Colombia, replacing Raul Fernandez Maseda, who is retiring after 20 years with the company. Carpio has been the CEO of MAPFRE in Mexico, and has also held responsibilities with MAPFRE Asistencia in...

Bogota Based Cardinal Compañia de Seguros has concluded negotiations leading to The Travelers Companies of The United States partnering with Brasil based J Malucelli to  acquire a majority stake in the upstart surety provider. The company will remain in Bogotá but be rebranded as...

Fitch Ratings this week announced a stable outlook for the Colombian insurance industry today. The stable sector outlook reflects Fitch’s expectation that the key credit metrics of the Colombian insurance sector will remain broadly stable and the industry will manage to...