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Colombia

Our story

Supporting Colombia’s insurance industry for more than 20 years.

Lloyd’s was first registered in Colombia as a foreign reinsurer in 1999, however, it was until 2015 that we applied for a license to have a local representative office, which was finally opened in 2016. At the moment, there is one Lloyd’s Managing Agent located in Colombia.

Through our main distribution channels of brokers and coverholders, Lloyd’s continue to serve clients when needing reinsurance capacity, both for Treaty and Facultative business.

Insurance

Lloyd’s Managing Agents are not licensed to write insurance in or from Colombia. However, by exception, Lloyd’s Managing Agents based in London and Lloyd’s Coverholders outside of Colombia can underwrite Marine, Aviation and Transport (MAT) and Space insurance risks located in Colombia on a cross border basis only.

This is because Lloyd’s is registered as a foreign insurer offering Marine and Aviation Transport and Space Launching Transport (including satellites) Insurance (RAIMAT) in Colombia.

Reinsurance

Lloyd’s is registered as a foreign reinsurer (REACOEX) in Colombia.

Therefore, Lloyd’s Managing Agents based in London and Lloyd’s Coverholders outside of Colombia underwrite risks located in Colombia on a cross border basis.

Managing Agents can also underwrite inside Colombia if they appoint an individual to act as a Managing Agent Delegate in the Lloyd’s Colombia Representative Office.

Lloyd's Coverholders

In 2018 The Colombian regulator – the Superintendencia Financiera de Colombia (“SFC”) issued new requirements for all registered foreign reinsurers to provide details of all coverholders binding Colombian reinsurance business across borders. Lloyd’s Market Bulletin Y5215 aims to clarify the notification requirements for coverholders underwriting Colombian reinsurance business from abroad. The requirements are outlined in Annex 1 of SFC Circular Externa No. 020, of 03 October 20182.

Coverholder notification requirement

Lloyd’s coverholders based outside Colombia are permitted to write Colombian reinsurance business across borders under Lloyd’s underwriters’ reinsurance licence. New requirements issued by the regulator (SFC External Circular 020 of 03 October 2018) state that the registered reinsurer (Lloyd’s Underwriters) must notify the regulator of their intention to appoint offshore coverholders, submitting a notification which must include details of all the coverholders that will write reinsurance business across borders. Following the submission, the coverholder will be allowed to underwrite Colombian business on behalf of the concerned reinsurer.

For more information please refer to Lloyd’s Market Bulletin Y5215.

Our solutions in Colombia

Lloyd’s is a major provider of reinsurance capacity in Colombia.

Please find below the lines of business the Lloyd’s market is able to cover.

  • Accident & Health
  • Agriculture & Hail
  • Aviation
  • BBB/Crime
  • Casuality
  • Contingency
  • Cyber
  • Difference in Conditions
  • Directors & Officers
  • Employers
  • Liability
  • Energy
  • Engineering
  • Extended Warranty
  • Financial Institutions
  • Fine Art
  • Lega Expenses
  • Livestock & Bloodstock
  • Marine
  • Medical Expenses
  • Medical Malpractice
  • Motor
  • General Liability
  • Nuclear
  • Pecuniary
  • Personal Accident XL
  • Political Risks, Credit & Financial Guarantee
  • Power Generation
  • Professional Indemnity
  • Property
  • Space
  • Specie
  • Term Life
  • Terrorism
  • Yacht

Frequently asked questions

View Lloyd's Colombia FAQ's.

Lloyd's Colombia office

The Lloyd’s team in Colombia plays an important role in the promotion and management of Lloyd’s brand as well as the regulatory and compliance requirements for Lloyd’s in the Colombian market.

Please note: The Lloyd's Colombia offices do not underwrite, quote or issue insurance policies. If you have a question about your Lloyd’s policy, please contact your (re)insurance broker.

Address

Calle 90 # 11 – 13
Oficina 511
Bogota, Colombia