Santo Domingo.– After registering 3.6% growth in the first half over 1H08, the Dominican Republic's insurance industry saw
written premiums in January-July rise 5.7% compared to the same period
in 2008.
According to statistics from insurance association Cadoar, premiums in the seven-month period came to 13.3 B pesos (US$371 M). Non-life premiums were up 1% to 11.3bn pesos, with auto
insurance –the largest business line– declining 2.1% to 4.67bn pesos.
Fire and allied insurance premiums, the second biggest business line,
increased 3.4% to 4.39bn pesos.
Life insurance premiums rose 43.1% to 2.02bn pesos, with group
life rising 57.4% to 1.99bn pesos and individual life plunging 80.7% to
28.2mn pesos.
An official from the
insurance regulator recently said the industry could see premiums rise by as
much as 6% this year compared to 2008, despite slowing economic growth,
thanks to a pick-up in sales in the second half.
Premiums are expected to total 23.0bn pesos this year, up 5.8%,
according to the regulator, which bases its estimate on expected GDP
growth of 3.8% in 2009.
Written by: Edward, 12 Sep 2009 2:33 PM
From: United States, Faux News: Unfair Imbalance
Good news. It means people have more money to spend and the economy is actually better than what the GDP statistics say.
Written by: josean, 12 Sep 2009 2:49 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
Can you get METRO insurance?
Written by: Edward, 12 Sep 2009 2:53 PM
From: United States, Faux News: Unfair Imbalance
No Josean only "state-of-the-art motoconcho 5 people no helmets" insurance
Written by: josean, 12 Sep 2009 2:54 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
I thought so!
From: United States
i like this statistic
Fire and allied insurance premiums, the second biggest business line, increased 3.4% to 4.39bn pesos.
shall we look to see more suspicious fires at failing business ventures? and, did auto premiums go downwards because car sales are in the shitter, or guys just decided not to bother insuring their cars?is there a law which says that if your car is financed, it has to have coverage for all perils? or do guys just borrow money for the jeepeta at 32% interest, and, when they wreck it, they just stop paying the note? hey; why bother. they have no assets to lien, anyway, after spending their next 4 years salary on the Four Runner, and the following 2 years on the subwoofers and amplifiers, not to mention, the rims. ah, the joys of youth. or should i say"the toys of youth"?
Written by: josean, 12 Sep 2009 3:53 PM
From: United States, Dedicating 4 more years to fighting the Dictatorship of the Narco PLD Mafia
dread,
What do you have against my low profile rims?
From: Dominican Republic, America
dreads more suspicious is a doubling in life insurance rates!
Insurance is an often overlooked industry, but a great way to build pools of stable capital.
Written by: Vivacuba, 12 Sep 2009 6:55 PM
From: Dominican Republic
AIG must be involved somehow
Written by: jonbonz, 12 Sep 2009 9:10 PM
From: Dominican Republic, santo domingo
I know where the profits are. A brand new montero drove over the hood of my car. When the idiot decided to pass me on the left as I was making a left hand turn from the left lane. The insurance company paid 26000 pesos for my totaled car four months later. I was out of country when the settlement happend so I could not really debate the issue. So basically they do not pay. Also a friend of mine has an insurance policy that includes lawyer coverage at the accident scene so a lawyer can go out to the accident scene to ensure the investigation is done correctly. Before the cars are towed away.
Written by: juanb, 13 Sep 2009 9:41 AM
From: Dominican Republic
Well, as we all know making a left turn is just asking for a problem. You have to pass the street(turnoff, whatever) and get to the your desired street by making a series of right turns (3) to bring you to where you wanted to go. Either that, or drive on the wrong side of the street prior to arriving at the place at which you want to turn left. That will prevent some idiot from trying to pass you on the left as you slow down to turn, which he feels he must do, even though your turn signal is on.
From: United States
well, jonbonz, the DR is not a country that has joined the 21st century where insurance is concerned. in any modern insurance ecosystem, an offer of settllement for a total loss has to be in writing, and has to be accepted. they can't just mail you a check. and, in future, do not make right had turns, either. you might get hit by the passola passing on the inside. so, my advice is..just keep going straight until you run out of gas.
Written by: jonbonz, 13 Sep 2009 4:08 PM
From: Dominican Republic, santo domingo
I now have a 10 year old suv instead of a jetta that seems to slow down the agression.
Otherwise I am thinking of an MRAP like is used in the sadn box
From: United States
10 year old SUV...good idea. slowing down aggression? not so sure about that one. machismo is immutable.
Written by: xwill7, 16 Sep 2009 12:08 PM
From: United States, El cuarto bate
liability insurance has gone up since last year
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Fire and allied insurance premiums, the second biggest business line, increased 3.4% to 4.39bn pesos.
shall we look to see more suspicious fires at failing business ventures? and, did auto premiums go downwards because car sales are in the shitter, or guys just decided not to bother insuring their cars?is there a law which says that if your car is financed, it has to have coverage for all perils? or do guys just borrow money for the jeepeta at 32% interest, and, when they wreck it, they just stop paying the note? hey; why bother. they have no assets to lien, anyway, after spending their next 4 years salary on the Four Runner, and the following 2 years on the subwoofers and amplifiers, not to mention, the rims. ah, the joys of youth. or should i say"the toys of youth"?
What do you have against my low profile rims?
Insurance is an often overlooked industry, but a great way to build pools of stable capital.
Otherwise I am thinking of an MRAP like is used in the sadn box