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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the the Dominican Republic's non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in the Dominican Republic's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the the Dominican Republic non-life (P&C) market as well as trends by line of business. Axco analysts also report on the Dominican Republic's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes the Dominican Republic's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in the Dominican Republic, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in the Dominican Republic, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in the Dominican Republic with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The insurance market in the Dominican Republic in 2019 is growing but is characterised by relatively low market penetration compared with peer markets in the region such as Jamaica, Puerto Rico and Trinidad and Tobago. Having said that, with strong economic growth projected at 5% in 2019 and relatively low inflation at 3.32% there are good conditions for future market growth.
Non-life net written premiums in 2018 were DOP 34.50bn (USD 688.16mn) and 9.82% higher than gross written premiums of ....
This is a brief extract of information; more updated information may be available in the latest published report