ANNOUNCEMENT 15 Jul 2009In July 2009, the government of Colombia announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
Law No. 1328 (in Spanish),
U.S. Department of State (in English),
On 15 July 2009, Colombia's National Congress adopted Law No. 1328 improving the market access for foreign insurance companies and allowing Colombian residents to purchase various types of insurance policies abroad. The new regulation allows foreign entities to sell their insurance products for maritime international transportation, international commercial aviation and space launching and transportation. Furthermore, the new law also allows local insurance agents and foreign insurance brokers to carry out insurance brokerage activities in Colombia and with each other.