THE National Reinsurance Corporation of the Philippines (Nat Re) expects slower creation of new business among its clients this year as the economy is still struggling to recover, its top official said, but noted the company could post “profitable growth” despite this.
“With intermittent surges in COVID-19 infections and delays in the arrival of the vaccines, the country’s economic recovery could be slower than initially expected. It is still too early to give any definitive statement, but we can expect a slowdown in the new business generation of our clients,” Nat Re President and CEO Allan R. Santos said during their annual stockholders meeting on Wednesday.
