La Universal de Seguros and the Grupo Asegurador America announced their merger. The new insurance company, Universal America becomes the leader in the local insurance market, with a 30% market share. The company manages RD$1,800 million in insurance premiums. Marino Ginebra, president of Grupo Asegurador America, and Ernesto Izquierdo, president of La Universal de Seguro forecast that other mergers will follow. There are 40 companies handling a volume of RD$5,000 million in insurance premiums. They forecast that in two to three years there will be five or six insurance companies operating in the DR.
