Insurance Market up to May 2018

Growth in Personal Accident and Individual Life policies accounted for most of the 12% growth recorded during the fifth month of the year in the Dominican Republic.

Friday, July 20, 2018

In May, compared to 2017, the lines that reported the highest growth were: Bonds, 132%; Personal Accident, 41%; and Individual Life, 34%, reported the Superintendency of Insurance.

The report details that " ... The lines with the largests shares were: Motor Vehicles, 25.42%, Fire and Allied Perils, 25.13%, and Health, 22.20%."

Regarding the market share of the insurance companies, the report states that " ... Seguros Universal, S.A. reaches an amount of RD $1.130 billion ($23 million) in premiums with a comparative growth of 9.55%, which represents 22.51%. Seguros Reservas, S.A., occupies second place with a growth of 7.81%, its amount in premiums is RD $763.9 ($16 million) and its share is 15.22%, and Humano Seguros, S.A., reports RD $705.5 ($14 million) growth of 35.99% in relation to the previous year and has a 14.06% share taking third place."

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

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More on this topic

Dominican Republic: Insurance Market Increases 29%

September 2019

In July 2019, the branches with the highest growth compared to the same month in 2018 were Health with 56%, Bail Bonds with 41% and Air and Maritime Ships with 41%.

From the Superintendence of Insurance report:

Net premiums collected in July reached RD$6,501,787,017 million, with an absolute growth of RD$1,456,663,584 million and a relative growth of 28.87% compared to the previous year.

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

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Life, health, and accident policies accounted for most of the 12% growth recorded in premiums during the first quarter of the year compared to the same period in 2016.

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May 2013

Private insurers are beginning to outperform the state insurance company and have so far captured a 40% market share.

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