Dominican Republic Insurance Q4 2018
The Dominican Republic is an under-developed insurance market with high long-term potential. At present, demand forinsurance is concentrated on basic or compulsory lines, such as property and motor insurance. This is due to the low incomes oflocal households and the limited consumer awareness around life insurance and other discretionary lines. Slowly, we are starting tosee living standards and hence disposable incomes creep upwards as the economy expands, providing stimulus for growth insmaller lines. Growing demand for health and personal accident insurance is driving premiums to grow by about 10% annually inlocal currency terms, for example. By the end of the forecast period, we expect penetration and density levels to have developedfrom their current low base, and this is likely to solicit greater interest from the international insurance and investment community.
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