Dominican Republic Insurance Q4 2019
The Dominican Republic is an under-developed insurance market with good long-term potential. At present, demand forinsurance is concentrated on basic or compulsory lines, such as property and motor insurance - due to the low incomes of localhouseholds and the limited consumer awareness around life insurance and other discretionary lines. Slowly, we are starting to seeliving standards, and disposable incomes, creep upwards as the economy expands, providing stimulus for growth in smaller lines,such as the health and personal accident sub-sector. By the end of the forecast period, we expect penetration and density levels tohave developed from their current low base. This is likely to solicit greater interest from the international insurance and investmentcommunity, as health and personal accident are expected to account for nearly a quarter of non-life insurance premiums.
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