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Dominican Republic Insurance Report Q2 2016

  • March 2016
  • -
  • Business Monitor International
  • -
  • 39 pages

Includes 3 FREE quarterly updates

BMI View: The Dominican Republic's insurance market will continue to be one of the least developed inthe Caribbean, with per capita premiums of just USD70.1 in the non-life sector and a paltry USD8.8 in thelife market. Currency weakness will also continue to plague the dollar terms returns for many operators.Health insurance, an underdeveloped line of business, is likely to outperform our forecasts given the recentoutbreak of the Zika virus.

Key Updates And Forecasts

- We note upside risk to health insurance premium growth due to the spread of the Zika virus in theCaribbean, a mosquito-transmitted infection believed to cause birth defects. Although the virus has yet tospread to Dominican Republic, the WHO expects the virus to spread to every nation in the Americas,except Canada and Chile, by end-2016. The US Centers for Disease Control and Prevention (CDC) hasissued a travel alert encouraging women who are or could become pregnant to 'consider postponing travelto any area where Zika virus transmission is ongoing'. While we maintain our core view that visitorarrivals will continue to rise in 2016, we caution that concerns over the virus will cap arrivals growth.

- The Dominican Republic life insurance market is currently the least developed in the Caribbean, and wedo not expect a significant turnaround in the medium term. Life insurance products are not attractive toDominicans, partly because their value has yet to be sold, but also because of low levels of disposableincome.

Table Of Contents

Dominican Republic Insurance Report Q2 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Dominican Republic 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Dominican Republic 2013-2020) 11
Table: Life Insurance Claims (Dominican Republic 2008-2013) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Dominican Republic 2013-2020) 15
Table: Non-Life Insurance Claims (Dominican Republic 2009-2013) 15
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums By Product Line (Dominican Republic 2013-2020) 22
Industry Risk Reward Ratings 24
Latin America Insurance Risk/Reward Index 24
Table: Latin America and the Caribbean Insurance Risk/Reward Index - Q216 25
Market Overview 26
Life Market Overview 26
Table: Non-Life Insurance Market (USDmn) 2009-2014 28
Non-Life Market Overview 29
Table: DOMINICAN REPUBLIC NON-LIFE MARKET SHARE (%) 2009-2014 31
Company Profile 32
Seguros Universal 32
Methodology 33
Industry Forecast Methodology 33
Risk/Reward Index Methodology 36
Table: Indicators 38
Table: Weighting of Indicators 39

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