The Superintendent of Insurance, Josefa Castillo, highlighted growth is based on effective supervision and support to consolidate and strengthen
The projections that Insurance Superintendency is that the net premiums collected will exceed RD$100 billion in the insurance sector at the end of this year, which would be a record figure and a good position for growth in the entire region of Latin America.
This was revealed by the Superintendent of Insurance, Josefa Castilloby participating as a guest in TODAY’s Economic Meeting.
The official indicated that the net premiums collected from insurance companies when this administration began were about RD$72 billion and that these have been registering sustained growth until reaching RD$86 billion in 2021, for an increase of 19.1 %.
Castillo stressed that this increase is based on effective supervision and support to the insurance sector to keep it consolidated and strengthened. In addition to its growth is due in part to the country’s macroeconomic stability.
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He indicated that the net premiums collected by companies in the Dominican insurance sector in the January-March 2022 quarter amounted to an amount greater than RD$24,022 million, which means a growth of 11.8% compared to what was collected for this concept in the first quarter. quarter of the year 2021.
He explained that an upward trend is maintained, due to the fact that it went from RD$6,396 million in January to RD$7,468 million in February and RD$10,159 million in March, which shows a good rhythm of the sector’s operations for 2022.
Indexes
According to the statistics of the Superintendency of Insurance, the liquidity and solvency indexes of the insurance sector far exceed the levels required by Law 146-02 on Insurance and Bonds of the Dominican Republic, so the sector is capable to respond to the claims of the insured.
It points out that to date the liquidity index of the Dominican insurance market is at 1.72%, 0.72% above what is required by law.
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While the solvency index is 2.18%, also above what is established by the legislation that governs the sector.
Portal
The Insurance Superintendent highlighted the benefits of the innovative technological tool InData Seguros RD, a data monitoring program for the insurance sector at the national level, which, she assured, did not exist and which is a benchmark in Latin America.
He valued the work of Arnulfo Veras, director of the Department of Financial Analysis and Statistics, and Robert Esbelti for the proper functioning of this portal.
