Seguros Reservas celebrated its 21st anniversary as a leading company in the market, obtaining profits last year that exceeded RD$820 million and paid claims to its policyholders in the order of RD$4,657 million.
The statement was made by its executive vice president, Víctor Rojas, who explained that combining the last two years, the company’s benefits exceed RD$2.3 billion. “These and other important achievements are part of our interest and purpose of working in favor of the development of our country and with full support for the Dominican State,” he stressed.
Rojas spoke at the mass for the company’s anniversary held at the San Judas Tadeo Parish in Santo Domingo, which was attended by the general administrator of Banreservas and president of the Seguros Reservas Council, Samuel Pereyra; the members of that organization, clients, brokers, intermediaries and other representatives of the sector. The religious act was officiated by the auxiliary bishop
Monsignor Ramón Benito Angeles.
Rojas highlighted that the payment of claims to the insured in 2022 represents an increase of more than RD$1.5 billion, while claims reserves have been preserved for the same year for some RD$6.5 billion. “That -he explained- is equivalent to an increase of more than RD$2,000 million compared to the results of the management that preceded us.”
He said that reinsurance costs amount to about RD$6.8 billion, higher than the
RD$3,000 to those made in 2019 and 2020.
“With the increase in our productivity, today we exhibit the great number of more than RD$14,500 million in subscribed premiums, for an increase in the last two and a half years of exercise of more than RD$6,000 million; also yielding a technical result of more than RD$2.7 billion, which represents about RD$700 million more than in 2019 and 2020,” added Rojas.
The executive vice president of Seguros Reservas maintained that the company also registered an impressive positive reduction in delinquency in its portfolio, which, at the time of taking office, was at 27% and at the end of 2022 ended at just 9.5%. with premiums collected for more than RD$14.7 billion, more than RD$6 billion more than the previous year.
“Our company contributed more than RD$6,000 million to the Dominican State for direct taxes paid, more than double the contribution from the previous year,” emphasized Rojas.
Technological modernization
Rojas explained that Seguros Reservas during this period has invested more than RD$380 million in adaptation, modernization, technology and improvements. She insisted that this has been achieved “thanks to hard work and the enthusiasm, capacity, knowledge and unity of the team of men and women that make up our
company”.
These achievements have also been achieved despite the conditions of war, the international inflationary crisis and the damage caused by Hurricane Fiona, among other adversities, which increased the costs of the insurance industry.
He argued that the managerial and technical disposition of the company made it possible to promote and develop an exercise based on unified technical, financial and commercial strategies, with favorable, positive and respectful results within the insurance industry.
“These historical results -said Rojas- make us a leading company in the insurance sector, obtaining for the first time in 21 years of existence, achievements and visible recognition both financial, technical, commercial, at a social and institutional level, at the local level. and international”.
He added that Seguros Reservas “is the only company with a double risk rating: Long-Term Issuer Credit Rating of A- (Excellent) from AM Best International; and an increase in our rating by Fitch Ratings to AA+ (dom), both with a stable outlook, which optimize and increase the productivity of our structure, corporate efficiency and strengthen our projections”.
He highlighted that the subsidiary company of the Familia de Reservas, in recent months received seven awards from the insurance industry; in addition to four other recognitions that highlight its commitment to society and customers and partners.