Countries › Dominican Republic › Guide › 10. Capital markets and finance › Insurance and reinsurance in the Dominican Republic

Insurance and reinsurance in the Dominican Republic

Last verified: 2026-10-30 · Status: Stable

Insurers need Superintendencia de Seguros authorization and paid in capital of RD$8.5 million or the peso equivalent of US$500,000 in the 2002 law, which the regulator can raise. Risks in the country must be insured with local authorized insurers. Excess lines can go abroad only with regulator approval.

USD figures use the Banco Central de la República Dominicana reference selling rate of RD$60.9007 per US dollar for 29 October 2026, rounded to the cent.

Key facts

Insurance licence required	Yes textLey 146-02 art. 12 to 15, as of 2026-10-30 · in force
Insurer minimum capital in law	8500000 DOPLey 146-02 art. 12 literal c, as of 2002-09-26 · in force
Foreign insurer entry	Local company with 51% foreign ownership and five year record textLey 146-02 art. 13, as of 2026-10-30 · in force
Reference selling rate used for USD conversions	60.9007 DOP per USDBanco Central reference rate, as of 2026-10-29 · in force

The rule

1. Listed contracts must be written in the country with authorized insurers: life and health, property in the country or Dominican interests abroad, hulls and vehicles registered in the country, and import cargo.Ley 146-02 sobre Seguros y Fianzas, art. 6, 2002-09-26 official text · verified 2026-10-30

2. Premiums are paid in the country to insurers or their authorized representatives.Ley 146-02 sobre Seguros y Fianzas, art. 7, 2002-09-26 official text · verified 2026-10-30

3. Local insurers must be share companies with an exclusive object and capital paid in cash of at least RD$8,500,000 or the peso equivalent of US$500,000.
Example: RD$8,500,000 / US$139,571.47 for the peso figure, US$500,000.00 for the dollar testLey 146-02 sobre Seguros y Fianzas, art. 12 literal c, 2002-09-26 official text · verified 2026-10-30

4. Up to 10% of minimum capital can fund the Fondo de Garantía. The Superintendencia may adjust minimum capital by reasoned resolution after consulting the market.Ley 146-02 sobre Seguros y Fianzas, art. 12 literal c, 2002-09-26 official text · verified 2026-10-30

5. A foreign insurer must be a company formed under Dominican law with an office in the country, at least 51% of capital held by foreigners, more than five years of operation in its home country, and the capital kept in the Republic.Ley 146-02 sobre Seguros y Fianzas, art. 13 literals a, e, f and g, 2002-09-26 official text · verified 2026-10-30

6. Excess lines insurance that local insurers cannot provide can be placed abroad with prior Superintendencia authorization.Ley 146-02 sobre Seguros y Fianzas, art. 1 literal d, 2002-09-26 official text · verified 2026-10-30

7. Insurers and reinsurers need regulator authorization to open branches or agencies abroad.Ley 146-02 sobre Seguros y Fianzas, art. 27, 2002-09-26 official text · verified 2026-10-30

8. Premiums are due within the first 10 days of cover unless the parties agree a payment plan, which may not run past 120 days from the start of cover and is not available for bonds.Ley 146-02 sobre Seguros y Fianzas, art. 73 and paragraph I, 2002-09-26 official text · verified 2026-10-30

9. The insured or broker gives notice of a loss in the time and on the terms in the policy, and failing to meet policy conditions voids cover.Ley 146-02 sobre Seguros y Fianzas, art. 97, 2002-09-26 official text · verified 2026-10-30

10. Motor third party liability insurance is mandatory.Ley 146-02 sobre Seguros y Fianzas, art. 111 and art. 117 (chapter on compulsory motor insurance), 2002-09-26 official text · verified 2026-10-30

11. Banks may not own stakes in insurers.Ley 183-02 Monetaria y Financiera, art. 45 literal f, 2002-11-21 official text · verified 2026-10-30

Worked example

The dollar leg of the capital test, US$500,000, is RD$30,450,350.00 at the rate used, far above the peso leg of RD$8,500,000 (US$139,571.47). Current requirements should be confirmed with the regulator.

Step by step

Decide local company or foreign owned company.
Prepare the file for the Superintendencia de Seguros.
Pay in the capital in cash and keep it in the country.
File policies and reinsurance arrangements.
Register intermediaries.

Common traps

Buying cover abroad for local risks without approval breaches art. 6.
The 2002 capital figures may have been updated by resolution: none was found on verification.
A law reform has been discussed; no enacted text was found.
This page uses the gazette copy of the law.

Sources

Ley 146-02

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