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Loss ratios for most of the rated insurers were up due to a higher cost of claims.

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

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...