Axa is getting established in Colombia

The Axa Group has acquired 51% of Colpatria Seguros for 259 million EUR (352 million USD). The company is the fourth largest insurer in the country with a market share of 7% and the second player in non-life insurance.

With 8 billion EUR (10.8 billion USD) in premiums, Colombia is the fifth largest market of the South American continent. Half the turnover comes from property risks. The top five insurance companies detain 50% of the premiums which have grown by 12% per year on average over the last four years.