Colombia spends $1.12 million per person on insurance, but remains far from the OECD average

Insurance penetration in Colombia reached 3.12% of GDP in June 2026, compared with 6.2% on average in the OECD, according to Portafolio. Per capita spending on insurance in the country stands at $1.12 million, a level that keeps protection below the benchmark for the group of developed countries.