The prevailing low oil price saw exploration and production (E&P) companies cut costs in 2014 and 2015. In order to produce crude profitably at prices of under $40 per barrel, expensive greenfield exploration programmes have been put on the back-burner. However, if Colombia is to maintain its production target of 1m barrels per day (bpd)...
Over the past decade the oil industry has been at the centre of Colombia’s economic growth. The sector accounted for nearly one-fifth of all foreign direct investment (FDI) over the past 10 years, approximately half of all export revenues and, through taxes and royalties, provided up to 30% of government income. Consequently, the fall in the...
Microinsurance is defined as the sale of simple, low-cost insurance products to low-income sectors of the population for segments such as health, life and property risks. Typically these customers may not be formally employed, nor have been previously insured. According to an April 2015 study by BSLatAm, a banking and insurance consultancy,...
Total premiums paid to Colombia’s insurance companies have been growing at a strong pace in recent years, supported by the country’s underlying rate of economic expansion, a growing middle class, product development and the entry of new players into the industry. Growth has been strongest in the life insurance segment of the market. However,...
Grupo Aval is the largest and most profitable financial group in Colombia and Central America. It operates through four banks in Colombia: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas; one bank in Central America, Banco de América Central (BAC) Credomatic; a pension fund manager, Porvenir, and a merchant bank,...
Grupo Éxito is a subsidiary of Groupe Casino, a long-standing French mass retailer with operations around the world. Through its subsidiaries, it is the largest retailer in Latin America as a whole and specifically in Colombia and Brazil. Groupe Casino holds a stake of about 54% in Grupo Éxito. Before its September 2015 acquisition of retail...
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