Economy April 1, 2024 | 4:07 pm

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Seguros Reservas celebrates 22 years of achievements

Michel Lulo, Rita Abinader, Massyel Suazo and Víctor Rojas.

Santo Domingo.- Seguros Reservas is marking 22 years of dedication and accomplishments. The company’s current management is known for its innovative approach, evident in its continuous stream of new offerings and successes. In this vein, they have introduced their latest product, Just Salud Local, added Life Annuity programs, and acknowledged brokers for their outstanding performance throughout 2023.

Based on net premiums collected, Seguros Reservas currently ranks second in the insurance market, holding a 17.5% share as of December 31, 2023, according to the Superintendency of Insurance. This reflects the company’s strength, vision, and adaptability.

Internationally, it ranks among the top 9 insurance companies in Central America and the Dominican Republic, being the fastest-growing organization in this category. Its assets have increased by over RD$400 million to date, surpassing RD$24,700 million, marking a 21% growth compared to 2022.

By the end of 2023, Seguros Reservas’ premium income reached RD$20,951 million, approximately RD$6,400 million higher than in 2022, representing a 44% growth. Additionally, these premiums have boosted Seguros Reservas’ market share to 20% of the total premiums underwritten in 2023, a three-percentage-point increase compared to 2022. Meanwhile, the delinquency rate stood at 7.3% for the entire year, showing a positive variation of 2.7 percentage points compared to the 10% rate in 2022.

During the anniversary celebration, the company’s Executive Vice President, Víctor Rojas, expressed satisfaction with the sustained growth and achievements at the end of 2023. “Thanks to the efforts of over 900 employees, allied brokers, and the support of Banreservas General Manager Samuel Pereyra, our vision of offering personalized solutions that accompany policyholders at every stage of their lives becomes a reality with the ongoing innovations and enhancements. Just salud local is just one of the initial steps through which we will leave our mark in 2024.”

He also announced the company’s plans to continue advancing in technological implementation, including artificial intelligence, to offer more services and innovative experiences to policyholders. They will also expand their product and service portfolio, aiming to become the most comprehensive option for security, protection, and prevention for individuals and their assets in the Dominican and regional markets.

For two consecutive years, Seguros Reservas has been the first Dominican insurance company to achieve a double risk rating with Financial Strength of A- (Excellent) and a Long-Term Issuer Credit Rating of A- (Excellent), both with a stable outlook, as awarded by AM Best. Additionally, it holds a Fitch Ratings AA+ (dom) rating, further validating its solvency and reliability.

Broker recognition

During the event, Executive Vice President Víctor Rojas expressed satisfaction with the sustained growth and achievements reached at the end of 2023, recognizing brokers and intermediaries for their achievements during the year. In the Personal Insurance Branch, Corredom was awarded ‘Largest Producer in Life’ in the North Zone, while William Harper received the same award in the East Zone, and César Miguel Cuevas in Santo Domingo.

For ‘Largest Producer in Health’, Galo Escarfulley & Asoc. in the North Zone, Eloisa Anderson in the East Zone, and Ros Seguros & Consultoría in Santo Domingo were recognized.

Under the ‘Portfolio Retention’ category, Jaime Bisonó in the North Zone, Emma Ginebra in the East Zone, and F. Fino Consultores in Santo Domingo were acknowledged. Shammah Asesoría y Corretaje de Seguros received the ‘Outstanding Broker’ award.

In the General Risks Corporate Business Branch, Ros Seguros & Consultoría was recognized for ‘Largest Production in New Premiums and Portfolio Retention 2023’, with Emma Ginebra receiving the same recognition in the East Zone. Additionally, Cáceres & Asociados was acknowledged in the same category for Business Enterprises.

Recognitions in the General Risks Corporate Business Branch also included Marsh Franco Acra S. A. as ‘Top Producer 2023’. Toledano & Asociados (Business Enterprises), Donny Alejandro Polanco Elías (North Zone), and Asesores y Corredores del Este (East Zone) were awarded for ‘Highest Growth 2023’.

Lastly, Segurnet Corredores de Seguros received the Gran Reservas Prize for their outstanding performance and exceptional results in both branches, significantly contributing to exceeding the company’s goals in 2023.

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