Dominican Republic: Insurance Market Up 21%

Growth in health and agricultural policies and explained most of the growth of 22% registered up to October 2017.

Tuesday, January 16, 2018

Data from the Superintendency of Insurance indicates that in the tenth month of last year the health sector registered a 103% increase compared to October 2016, followed by agricultural and livestock insurance, whose premiums increased by 38%.

"... Net premiums collected in October of this year amounted to RD $4,021.6 million ($82 million), an absolute growth of RD $662.4 million ($13.6 million), 19.72% more compared to the same period in 2016. "

Eldinero.com.do reports that  "...In the period analyzed, the fastest-growing branches were the agricultural and livestock sector with 645.6%; health 63.4% and maritime and air ships, 31.4%. The branches with the highest participation were motor vehicles, 27.3%; health, 25.1% and fires and extended coverage, 19.5%.

See report by the Superintendency of Insurance (in Spanish).

More on this topic

Dominican Republic: Insurance Market up to March 2018

May 2018

Growth in policies for health and boats and aircrafts accounted for most of the 19% growth recorded in the first quarter of the year.

Data from the Superintendency of Insurance indicates that during the third month of the year the agricultural and livestock sector registered an increase of 64% compared to March 2017, followed by health insurance, whose premiums increased by 27%.

Insurance Market Up 15% in 2017

February 2018

Explained in part by the increase registered in mandatory insurance, last year income from premiums in Costa Rica added up to $1.323 billion, 15% more than in 2016.

Costa Rican authorities reported that last year the largest increase was recorded in mandatory types of insurance, with interannual increases of 26% (¢28.4 billion) in Occupational Hazards and 18% (¢7.5 billion) in the Obligatory Automotive. As a result, this category gained a 1.9 pp share with respect to voluntary insurance categories.

Panama: Figures for Insurance Market in January 2017

March 2017

In January $136 million worth of insurance premiums were sold, below the $138 million sold in the same month of 2016.

The decrease compared to January last year is mainly explained by a reduction in premium segments such as maritime, aviation, technical, various risks and bonds.

Panama Insurance Market - September 2016

November 2016

In the first nine months of the year premium income barely exceeded $1 billion, growing by less than 1% compared to the same period in 2015.

The premiums of insurance companies between January and September totaled $1.023 billion, registering a slight increase of 0.8% or $7.7 million compared with the $1,015 million in the same period last year, according to the Superintendency of Insurance in Panama.

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