The Superintendence of Insurance registered that, at the end of 2024, the net premiums charged in Insurance of life They reached 22,497 million pesos, representing an increase of 3,754.5 million pesos compared to 2023. This growth Of 20 % it reflects that more and more Dominicans bet on being prepared for inevitable events such as death.
A sure of lifewhether individual or collective, it is a financial prevention tool that allows, given the death of the insured, their relatives receive a sum of money that helps them face the expenses derived from the event. This contract can be managed through companies, unions, cooperatives, schools, banks or other entities, which act as a channel to offer these products to their employees or members.
For example, yes Juan loses the life In a traffic accident while returning from work, your family will receive financial compensation from the sure hired by the company for which it worked. This type of support prevents an unexpected tragedy from becoming an economic crisis.
He sure of life collective is the most hired
Of the total net premiums registered in the bouquet of lifethe Insurance groups They continue to be the most hired. In 2024, they reached 20,575.2 million pesos, with an absolute increase of 3,030.6 million pesos compared to the previous year. This represents a growth relative of 17.3 %.
In contrast, the sure of life individual – although less representative – experienced a growth more accelerated. The premiums went from 1,198.3 million pesos in 2023 to 1,922.2 million pesos in 2024, which represents an increase of 723.9 million pesos, equivalent to 60.4 %.
Although their participation remains less, the sure of life individual represented 8.6 % of the total premiums of the bouquet life in 2024, compared to 6.4 % of 2023.
That Insurers lead the market?
In it ranking General of Insurers, Insurance Universal, Insurance Reserves, human InsuranceMapfre BHD and the colonial are positioned as the five companies with the highest amounts hired in Insurance of life.
However, in the bouquet of Insurance of life Individual, the company Worldwide Seguros leads him market with 203,593.7 million pesos in net premiums. They follow him Insurance reservationswith 162,650.8 million pesos, and Universal Insurancewith 58,708.6 million pesos.
Within the general panorama of the market Insurance, the bouquet life Continue gaining ground. In 2024, the Insurance of life (groups and individual) represented 16.6 % of the total net premiums of the sector, a percentage point rather than in 2023, when their participation was 15.6 %.
This advance occurs in parallel to growth of others Ramos such as motor, health and fire vehicles and allies, thanks to the alternatives and personalized plans provided by insurers through financial services such as credit cards, among other market offers.
