MAPFRE presents report in the Dominican Republic, marking its 20th anniversary and reaffirming its leadership in the insurance sector. According to the new analysis released by the company, the Dominican insurance sector experienced a 13.6% growth in premium volume during 2024, reaching US$2,277.8 million. This figure places the Dominican Republic among the most dynamic markets in the region.
Sustained market growth according to MAPFRE presents report
MAPFRE presents report detailing the performance of Non-Life insurance, which accounts for 83.4% of the local sector and rose by 13.1%, reaching US$1,899.2 million. Meanwhile, Life segment premiums totaled US$378.6 million, also reflecting customer trust and the development of the national financial sector in the insurance arena.
Investments and strategies of MAPFRE presents report
According to the report, Dominican insurers managed total investments of US$1,333.2 million at the close of the third quarter of 2024. 75.7% of these funds are in debt and equity instruments, while 7% is in real estate and 8.1% in treasury, showing a conservative strategy focused on financial stability.
Latin American regional context in the MAPFRE presents report
At the Latin American level, the report reveals a 5.8% growth for the regional insurance market in 2024, reaching a global volume of US$215,100 million. The expansion, although more moderate than the 17.1% recorded in 2023, was impacted by factors such as economic deceleration in key countries like Brazil and Mexico, and the depreciation of local currencies against the dollar, which reduced the relative value of the premiums.
- The base effect regarding previous high growth and inflation affected market dynamism.
- MAPFRE maintains its position as the leading multinational operator in the region.
Innovation, social impact, and leadership of MAPFRE presents report
In the words of Andrés Mejía, executive president of MAPFRE Dominicana, the company has adopted strategic decisions to continue leading the market, relying on technical innovation, a robust network of commercial offices, and a focus on social responsibility. In 2024, written premiums exceeded 31 billion pesos, serving over one million customers nationwide.
“We have a solid network of 20 commercial offices and 10 health service points, which allow us to be ever closer to people and their needs,” Mejía emphasized during the celebration.
Community commitment through MAPFRE presents report
Fundación MAPFRE in the Dominican Republic benefited more than 90,000 people through 1,500 activities in the fields of health, education, road safety, and social action, with investments exceeding RD$20 million. This social backing reinforces the entity’s positioning as one of the most committed and stable players in the local insurance sector.
At the close of the report and the anniversary celebration, MAPFRE presents report on the insurance market and its projection to continue innovating and strengthening its commitment to the protection and development of the Dominican Republic, reaffirming, once again, its benchmark position in the country’s financial and social sector.
