Fire Insurance Becomes Dominican Republic’s Third-Largest Insurance Segment

Fire and allied insurance ranked as the third-largest insurance business line in the Dominican Republic in 2025, generating more than RD$39.9 billion in premiums, according to official market figures. The segment trailed only motor vehicle, health and group life insurance in premium volume, underscoring the continued importance of protecting businesses and properties against fire-related losses.

The Dominican insurance market collected a total of RD$153.36 billion in premiums during 2025. Fire and allied coverage accounted for approximately 26% of that amount, reflecting the sector’s significant share of the country’s insurance industry and the ongoing exposure to fire-related claims.

Regulator Expands Reporting Requirements

The Superintendency of Insurance, the government agency responsible for supervising the insurance sector, said the current Law 146-02 on Insurance and Bonds was originally designed with a reporting framework focused primarily on insurers’ financial information. As the market has evolved, the regulator says more detailed claims data has become necessary to strengthen oversight and improve industry transparency.

To address those needs, the agency issued Resolution 01-2024, which standardizes and expands the information that insurance companies must submit. According to the regulator, the updated requirements are intended to improve market analysis, strengthen consumer protection and provide more complete and timely statistical information.

Implementation Nears Completion

The Superintendency said it is working with local insurance and reinsurance companies to finalize the implementation of the new reporting procedures required under the resolution. Once fully operational, the new framework is expected to provide regulators with broader and more detailed information on insurance claims across different business lines.

The agency said the periodic submission of standardized data will allow it to build a comprehensive database capable of supporting regulatory supervision while responding more effectively to requests for market information and statistical analysis.

Broader Data Collection Across the Industry

Resolution 01-2024 establishes reporting requirements covering financial statements, staffing levels, branch offices, premiums written and collected, policy cancellations, commissions, claims and operating results. Depending on the type of information, insurers will be required to submit reports on a daily, monthly, quarterly or annual basis.

The enhanced reporting system is expected to give regulators a clearer picture of claims trends across the Dominican insurance market, helping improve supervision while providing more reliable data for industry participants and policymakers.