Nelson Arroyo, executive vice president of Seguros Reservas, the insurance division of the state Banco de Reservas, issued a firm rebuttal on Monday, 22 December 2025 against warnings from economist Juan Ariel Jiménez regarding the state-owned insurer’s financial stability. Jimenez was Minister of Economy during the government of Danilo Medina and today is a professor at the University of Harvard in Boston. Arroyo dismissed the claims as “unfounded” and lacking “technical rigor.”
The exchange marks a sharp escalation in tensions within the financial sector. Arroyo expressed regret that Jiménez, whom he described as a typically prudent voice within the political opposition, would issue judgments he believes are designed to capitalize on the public sensitivity following recent controversies surrounding Senasa.
“There is an attempt to seek political advantage from a serious matter that impacts trust in the financial system,” Arroyo stated.
Countering the allegations of financial distress, Arroyo provided specific figures to demonstrate the company’s strength. As of 7 November, Seguros Reservas reported profits of RD$1.839 billion, marking a 133% increase compared to previous periods.
The executive projected that the company will end the year with total earnings near RD$2.3 billion, which would represent the most successful performance in the institution’s history. Arroyo emphasized that these results are backed by continuous audits performed by the international firm KPMG and ongoing supervision by the Superintendency of Insurance.
Addressing concerns of historical deficits, Arroyo maintained that Seguros Reservas has never recorded a loss under any administration. He pointed to 2022, a year severely impacted by Hurricane Fiona, where the insurer still managed to post profits of RD$609 million.
The official attributed the current year’s surge in profitability to administrative efficiency rather than simple market growth. He noted that while premium growth held steady at approximately 10% to 11%, net profits nearly doubled. This disparity, Arroyo argued, is evidence of responsible management that shuns “populist” tactics.
The Superintendent of Insurance in the Dominican Republic, former senator, president of the Chamber of Deputies and politician Julio Cesar Valentin Jiminian, appointed August 2024 to replace Josefa Castillo who was in the position since August 2020, has not commented on the remark by Juan Ariel Jimenez that the Banreservas insurance company has troubles.
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Noticias SIN
DR1 News
23 December 2025