Egypt Agribusiness Q1 2019
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 over 10% annually in localcurrency terms, for example, making it the fastest growing sub-sector in the non-life market. By the end of the forecast period, weexpect penetration and density levels to have developed from their current low base, and this is likely to solicit greater interest fromthe international insurance and investment community, as health and personal accident are expected to account for nearly aquarter of non-life insurance premiums.
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