Depends. A lot of the former colonies attempted more collectivist policies but were prevented from doing so by their former colonizers (or other rich countries).

https://en.wikipedia.org/wiki/1973_Chilean_coup_d%27%C3%A9ta...

https://en.wikipedia.org/wiki/Fran%C3%A7afrique

Sorry to break your bubble but most European countries did not colonise other countries. The most successful ones, Scandinavian countries, did not colonise other countries (well they did internally but not the same way as England and France for example). If you look to Norway we had a social democratic system before we gained the majority of wealth (aka oil).

Scandinavian countries did not establish successful profitable colonies (except perhaps Iceland, if you want to count that). It's ambiguous enough whether the average Briton really benefited from their colonial adventures: the Scandinavian peasantry clearly did not. Finland in particular was an impoverished backwater until the early 20th century.

Why? From a cash flow perspective, the monthly insurance premiums should cover the expenses.