Investments and Business

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Colombia is not a country with a broad insurance vocation. In fact, insurance penetration is estimated at 3 percent of the gross domestic product (GDP), one of the lowest in the world. And although the country has made progress on this front, the difficult situation in 2023 will undoubtedly have a strong impact on the performance of this industry, which will be forced, among other things, to adjust the costs of policies due to high inflation.(Also read: G. Bicentenario will fight against gout and promote inclusion) Only compulsory traffic accident insurance (Soat) this year had an increase of 11.7 percent…

“We want brands that want to import electric vehicles to Colombia to use national parts and boost electric vehicle production”. With this message on Twitter on February 17, President Gustavo Petro uncovered his government's letters regarding the future of the automotive industry. In turn, the Minister of Commerce, Germán Umaña, explained that this initiative is part of the reindustrialization policy that has five axes. One of these is energy transformation, which seeks to attract investment for the production or assembly of electric vehicles with the incorporation of national parts. It is time for change. It is possible to industrialize Colombia…

2022 was a fairly positive year for the majority of companies in the country that saw their profits and income pick up, at least it was for Electrical Interconnection (ISA), Grupo Nutresa, Davivienda and Bancolombia.(Also read: Entrepreneurs raise their intentions to postpone or cancel investments in Colombia) according to directives of IT'S A, the company concluded 2022 with solid financial results and exceeding the projections they had for that year. Profits, for example, totaled 2.2 trillion pesos, exceeding those of 2021 by 32 percent.For its part, revenues totaled 13.4 trillion pesos, while ebitda reached 8.6 trillion, reflecting increases of 20…