Through a press release issued on May 15, 2026, the Colombian Financial Superintendence (hereinafter, the “SFC”) announced that it has become aware of the existence of unauthorized promoters in Colombia who have been offering life insurance products issued by a U.S.-based insurer that is not authorized to carry out insurance promotion activities within the country.

In this regard, the SFC stated that such insurer is not subject to the inspection, supervision, or control of that authority and reiterated that only “insurance companies subject to the supervision of the SFC are authorized to promote insurance products and services that have been approved in the country.”

Additionally, the SFC noted that, in 2020, this authority had already issued a resolution imposing a precautionary measure against a Colombian citizen for having acted as an intermediary for the offering, renewal, promotion, and advertising of insurance contracts issued by the same foreign insurer. Should you wish to review a note prepared by our firm regarding such resolution, please refer to the following link: Precautionary measure for non-authorized insurance commercialization

Finally, the SFC called upon the general public to purchase insurance and other financial products within the national territory exclusively through entities duly authorized to conduct such activities in Colombia:

“Accordingly, the general public is once again reminded of the importance of acquiring insurance policies, as well as any other financial product or service within the national territory, solely through entities authorized by the SFC, after first verifying that such entities are effectively subject to the supervision of this regulatory authority.”