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Reservas Insurance is rated by AM Best

Seguros Reservas es calificado por AM Best

Seguros Reservas marks a precedent by receiving for the first time a Financial Strength rating of A- (excellent) and a Long-Term Issuer Credit Rating of A- (Excellent) from AM Best, which is added to the rating of Fitch Ratings AA+ (dom), both with a stable outlook, and granted this year by renowned risk firms.

The rating received by AM Best primarily reflects the balance sheet stabilitywhich has been evaluated as the most solid, with an excellent business profile and adequate financial risk management.

Likewise, reflects the operating performance, coming from a diversified business portfolio and contained technical leverage as a result of the synergy achieved with Banco de Reservas.

Seguros Reservas is backed by its risk adjusted capitalization at the strongest level, as shown in the results measured by Best’s Capital Adequacy Ratio (BCAR).

The insurance company is recognized for its financial solvency and outstanding 20-year track record in the Dominican insurance market which constantly bets on transformation and evolution, with the purpose of optimizing and increasing the productivity of its structure.

The Executive Vice President of Insurance Reserves, Víctor Rojas, stated that “Seguros Reservas continues to evolve and adds to its trajectory an important achievement that represents a significant milestone for the entire insurance industry, highlighting our clear vision of being a benchmark entity by achieving two risk ratings of recognized firms, increasing after seven years from AA- to AA+, in the case of Fitch Ratings, while for the first time with AM Best we obtained an A- (Excellent) rating; these highlight our stability that becomes visible in each challenge overcome and objective achieved”.

Pillars of achievement
For the insurer it is result of rising financial performance that maintains its position in the sector, presenting important advances that have allowed a increase of more than RD$3,600 million in its total assetsclosing 2021 with more than 1,511 million in net benefits.

bouquets
AM Best positions it as one of the leading insurers in the Dominican Republic, with a 14.2% market share as of June 2022.

In 2021, fire insurance continued to represent the company’s main line of business, with a 40% of gross premiumsfollowed by a 25.9% auto policies13.6% in life (13.6%) and the remaining 20.5% in others.

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