The National Insurance Institute (INS) lost shares in the premiums received for fire insurance policies, according to updated figures from the Superintendent of Insurance (SUG).
Compared to 2015, the state insurance recorded a reduction in insurance premiums of almost ¢ 2,500 million. With the decline, the INS went from controling 93.3% of the market in April 2015 to 87.2% in April 2016.
INS’ lower participation was reflected in increased participation of the insurer Assa by 3.9 percentage points, and now controls 7.4% percent of the market.
At home fire insurance policies are offered by INS, Assa, Mapfre, Lafise, Ocean, Bolivar and Sagicor.
In total, premiums for fire insurance policies account for nearly one fifth of the total placement of voluntary insurance, representing about ¢ 5,000 million in the first quarter.