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Insurers have paid out a fraction of the tab so far — and the claims window stays open two more years.

This is the abridged version of a new independent technical study of the Hidroituango Hydroelectric Dam project tunnel collapse on Colombia's Cauca River by Canadian geological engineering expert Dean Brox. According to Mr. Brox, serious design flaws and critical decisions led to...

Korean Reinsurance Company has obtained approval from Colombian regulators to open a representative office in Bogota.

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...

"We are able to simplify the underwriting process by automating manual processes, thereby increasing operational efficiency," said Valentina Sierra Toro of SURA.

This builds on the company’s already-established reinsurance business in the country, UIB Colombia.

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

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

"Colombia is heavily underinsured. If you look at insurance penetration ... Colombia is about a quarter of where it should be," said John Nelson, chairman of Lloyd's of London.

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