Ranking: DR insurers see strong premium growth through August

Insurers in the Dominican Republic saw a 23.1% year-on-year increase in net premiums received for the first eight months of 2017, according to sector regulator (Superseguros) data, rising to 32.2bn Dominican pesos (US$678mn) at the end of August.

The regulator reported the strongest premium growth in health (+120.49%) and agriculture/fishing (+53.83%) coverage, while auto insurance and policies for fire and associated coverage occupied the largest segments by market share, 27.32% and 25.30%, respectively.

The report also indicated breakout growth for second-tier player Seguros Ademi (+8,160% y-o-y) and a solid start to newcomer Atrios Seguros, reporting 40.7bn pesos in premiums.

Among the larger insurers, Humano Seguros reported standout performance, with premiums rising to 3.67bn pesos in August, up 508% y-o-y but down 2.03% m-o-m.

As indicated by the Superseguros, the seven largest insurers rated net premiums received from January to August 2017 for the largest seven insurers comprised 78% of the total market share.

Of the 39 registered insurers listed in the report, 31 showed activity over the period.

Net premiums received Jan-Aug 2017 (Dominican pesos); annual variation

Seguros Universal - 7.11bn; +4.61%

Seguros Reservas - 4.71bn; +8.15%

Mapfre BHD Cía de Seguros - 4.45bn; +10.7%

Humano Seguros - 3.67bn; +508%

Seguros Sura - 2.61bn; +16.9%

La Colonial de Seguros - 2.50bn; +7.16%

Seguros Worldwide - 1.13bn; +69.1%