Despite significant challenges linked to poor infrastructure, inadequate credit information and a largely rural population, commercial lenders are developing innovative means of broadening the sector’s reach. Framed by the government and the country’s central bank, the National Financial Inclusion and Financial Literacy Strategy encourages private banks, microfinance institutions, non-bank...
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Papua New Guinea is poised for change, as the country’s mineral riches are providing a major opportunity for economic development through the exploitation of natural resources. The government’s five-year strategic plan focuses on key development enablers such as free education, improvements to health services, the strengthening of law and order, rural development projects and infrastructure construction.
Articles & Analysis | High retention rates in some segments provide a stronger market from The Report: Colombia 2014
In line with growth in the insurance sector, reinsurance is becoming increasingly important and new reinsurers are entering the Colombian market. The rising demand for coverage in life and non-life segments, as well as the anticipated development of the infrastructure programme, should offer opportunities to providers.
Articles & Analysis | Major international players are establishing a presence in the sector from The Report: Colombia 2014
An attractive market for international underwriters, Colombia has demonstrated consistent economic growth and macroeconomic stability in the past decade, which in turn has resulted in a growing middle class and increasing employment formality. It also maintains upside potential for the development of the sector since insurance penetration is still low (2.4%) compared to...
Articles & Analysis | Regulatory reform and steady growth define the sector’s current state from The Report: Colombia 2014
Take-off for the Colombian insurance sector began in the 1990s, when trade liberalisation and a series of financial reforms fostered competition within the sector. Among important changes brought about by Law 45 of December 1990, known as the financial reform law, were the elimination of uniformity among policies and premiums, the establishment of new solvency and...
Articles & Analysis | Fixed-income investments play an active role on the Colombian bourse from The Report: Colombia 2014
The bond market in Colombia was the fifth-largest fixed-income market in the world in terms of traded value at the end of 2013, according to the World Federation of Exchanges. The market expanded dramatically between 2002 and 2011, when the number of outstanding titles grew by 249% and the total of traded volume doubled during the same period.
During...