BIG WIN FOR PHILIPPINE INSURANCE INDUSTRY

The National Reinsurance Corporation of the Philippines (NatRe) just won Reinsurer of the Year in this year's Asia Insurance Industry Awards.


According to Asia Insurance Review, the organizer of the event,  NatRe was lauded for its involvement in several initiatives aimed at promoting climate-risk insurance, pursuing reinsurance pooling opportunities and advancing risk-informed decision making.

 

Amidst pandemic-induced confusion in the market - and turbulent economic conditions globally - NatRe stood tall together with  16 other heroes of the insurance and risk-management sector recognised for excellence at the highly-prestigious awards ceremony held online the night of November 2, 2020.

 

Congratulations to PIRA Chairman Allan Santos for this huge victory for our country which came at the heels of the successful hosting of the Philippines of the 46th ASEAN Insurance Council (AIC) and 23rd ASEAN Insurance Regulators Meeting which he also headed.      Photo © Cherry Sumague-Palacio

PHILIPPINES SUCCESSFULLY HOSTS 23RD ASEAN INSURANCE REGULATORS MEETING AND 46TH ASEAN INSURANCE COUNCIL MEETINGS

Regulators and leaders of the insurance industry all over the 10 countries of Southeast Asia gathered online for the 46th ASEAN Insurance Council (AIC) and 23rd ASEAN Insurance Regulators Meeting (AIRM), both hosted by the Philippines.


Thanks to videoconferencing technology, however, insurance regulators and insurance industry leaders from 10 countries of Southeast Asia were still able to meet, discuss the challenges they are all facing, and propose solutions and directions moving forward.

 

For several days in October, leaders from the life and general insurance sectors from Brunei, Cambodia, Laos, Indonesia, Malaysia, Myanmar, the host Philippines, Singapore, Thailand and Vietnam met through Zoom videoconferencing -- a first in history -- to update themselves of what each has been doing based on what they have agreed in their previous meeting in Nay Pyi Taw, Myanmar last year.

The leaders also spotlighted how Covid-19 is affecting their jurisdictions, and how the insurance sector is trying to survive and thrive amidst these trying times.

 

In the latter part of the month, it was the regulators' turn to meet, and they followed it up with a Joint Plenary Meeting with industry leaders.

Insurance Commissioner Dennis Funa from the Philippines, who chaired this year's meetings, was elated at their success in serving their purpose of enabling a healthy exchange of ideas among the leaders.

Among the major points discussed in the meetings were the following:

 

1.  Cross-border issues for motor vehicle insurance that affect the countries in the Southeast Asian mainland;

 

2.  Insurance for natural catastrophes which mostly affect disaster-prone countries like the Philippines and Indonesia;

 

3.  Agriculture insurance which is very successful in Thailand.

 

4.  Digital innovations such as online examination for agents and other approaches to address the limitations from Covid-19 lockdowns;

 

5.  The continuing development of insurance education, especially in the field of insurtech; and

 

6.  Insurance products for the pandemic.

 

PIRA Chairman Allan Santos, who also chaired the events' organizing committee, highlighted the "silver linings" in the Covid-19 crisis, among them the industry's accelerated adoption of digitalization and the fresh realization of people of the need for insurance.

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MANILA TIMES TV WITH PIRA EXECUTIVE DIRECTOR MICHAEL RELLOSA

VERONICA FILES - EPISODE 2:

 

Manila Times TV Journalist Veronica Baluyut Jimenez sits down in an interview with PIRA Executive Director Michael Rellosa. 

Watch it here.

ONE NEWS PH WITH PIRA EXECUTIVE DIRECTOR MICHAEL RELLOSA

When: Nov 19, 2020 01:00 PM

PHILIPPINE TIME

 

Register in advance

for this meeting:
https://us02web.zoom.us/j/83803721338?pwd=ZjVvUE1maFI5c2NRcm9iTVgwNXBMdz09

 

After registering, you will receive a confirmation email containing information about joining the meeting.

THE PIRA

FACT BOOK

2018-2019

The latest edition of the official fact book from the Philippine Insurers and Reinsurers Association.

NON-LIFE INSURANCE IN

THE PHILIPPINES

NEWS

 

Find out more of the latest happenings about PIRA.

PIRA FACT BOOK

 

Browse and download the annual PIRA Fact Book.

PRESS RELEASES

 

Read about the recent press releases of the organization.

SEMINARS & EVENTS

 

View the upcoming events hosted

by PIRA.

OUR MEMBERS

 

View the complete list and directory of our members.

PIRA TV

 

Watch the latest insurance episodes from PIRA TV.

The 6th PIRA GOLF TOURNAMENT

Theme:

PIRA@65: Working Together, Getting Stronger

View the highlights of the 6th PIRA Networking Golf Tournament held last June 14 2019 at The Riviera Golf Club in Cavite.

 

Thank you to all our Major and Hole sponsors, and thank you to our participants.

Til next year!

OUR VISION: PIRA 2020

PIRA is the Institutional Leader - cohesive, trusted, and self-regulated in a growing non-life insurance industry in the Philippines.

OUR MISSION

To promote the general welfare and common interests of non-life insurance, surety and professional reinsurance companies doing business in the Philippines and the general public, through ways and means consistent with law;

 

To provide leadership, guidance and direction to the non-life insurance industry;

 

To propagate and spread the concept, principles and benefits of non-life insurance and surety business and to this end conduct educational campaigns, training seminars, workshops, conferences and lectures;

To create a positive image of the non-life insurance industry in the country and in the region;

To serve as a forum for the exchange of information on matters involving or affecting the non-life insurance, surety and reinsurance industries both local and international;

 

To make PIRA a reliable source of insurance-related statistics, forms and information;

 

To foster unity, goodwill and cooperation among its members in order that collective actions or pursuits in all matters of common interest to them may be facilitated;

 

To promote a harmonious environment where members voluntarily comply.

 

OUR CORE VALUES

Trustworthiness
Accountability
Compassion
Professionalism
Integrity

OUR MEMBERS

View the members that make the Philippine Insurers and Reinsurers Association.  Browse full list here.

OUR ADDRESS

Headquarters: 6th Floor, ALGO Center (formerly: Champaca II Building)
162 L. P. Leviste Street, Salcedo Village, Makati City

Metro Manila, Philippines 1227

E-mail Address: pira@pirainc.com.ph
Tel. No.:  (632) 8811.4587; (632) 8815.1064; (632) 8811.4629

Fax. No.: (632) 8813.8415

For any general inquiries, please fill in the following contact form:

 

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THE PHILIPPINE INSURERS AND REINSURERS ASSOCIATION

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PHILIPPINE INSURERS AND REINSURERS ASSOCIATION

Headquarters: 6th Floor, ALGO Center (formerly: Champaca II Building)
162 L. P. Leviste Street, Salcedo Village, Makati City

Metro Manila, Philippines1227

E-mail Address: pira@pirainc.com.ph
Tel. No.:  (632) 8811.4587; (632) 8815.1064; (632) 8811.4629

Fax. No.: (632) 8813.8415

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