The Dominican Republic insurance market consists of 39 companies, but this diversity of participants hides the high concentration of their operations, where five insurance companies receive more than 80% of the premiums collected. Universal Insurance is the unquestioned leader in this market, with 25% of the premiums collected between January and October 2013. Universal is followed by Mapfre BHD, which has 16.57% of the premiums, after overtaking Banreservas, which collected 16.6% of the premiums in 2012 but later went down to 15.45% during the first 10 months of last year. In the country, Mapfre BHS is linked to the BHD Financial Center. In December, BHD and Banco Leon announced the fusion of all of their financial operations. One of the divisions of Banco Leon is Banca Seguros (Insurance), which sells life insurance, auto, business and a variety of personal insurance policies. It is possible to speculate that this fusion will concentrate the insurance market in the Dominican Republic even further and bring Mapfre Insurance closer to the sector leader, Universal.
www.diariolibre.com/economia/2014/01/23/i450041_del-mercado-seguros-controlado-por-cinco-compaas.html