GREATER demand for financial reinsurance, coupled with higher health-related insurance coverage amid the ongoing pandemic, are expected to support the growth trajectory of the National Reinsurance Corporation of the Philippines (Nat Re) in 2021. “We continue to identify pockets of growth such as opportunities resulting from the need for capital relief reinsurance solutions and higher health insurance covers, as well as partnerships with foreign reinsurers,” Allan R. Santos, Nat Re President and Chief Executive Officer, told company shareholders at the 2021 Nat Re Annual Stockholders’ Meeting last June 23.

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.

Greater demand for reinsurance, coupled with higher health-related insurance coverage amid the ongoing COVID-19 pandemic are expected to support the growth trajectory in 2021 of the National Reinsurance Corporation of the Philippines (Nat Re), the country's national reinsurer. “We continue to identify pockets of growth such as opportunities resulting from the need for capital relief reinsurance solutions and higher health insurance covers, as well as partnerships with foreign reinsurers,” Mr Allan R Santos, Nat Re president and CEO, told company shareholders at the 2021 Nat Re Annual Stockholders’ Meeting yesterday.

The National Reinsurance Corp. of the Philippines (Nat Re) is aiming to generate enough profits and net assets which will allow it to declare dividends again for the stockholders. Nat Re President and CEO Allan R. Santos said during an annual stockholder meeting on Wednesday that the company has to meet the requirements set by the Securities and Exchange Commission (SEC) and the Insurance Commission (IC) prior to dividend declaration.

Mr Dennis B Funa, head of the Philippines Insurance Commission, has been re-elected unanimously as the chairman of Bangkok-based Asian Reinsurance Corporation (Asian Re). This is his second term as chairman following the successful completion of his first two-year term which spanned 2019-2021.

Regional InsurTech company Igloo has had a resounding first half, seeing 3X growth in GWP over the same period last year. It aims to further extend its regional presence and expertise in the InsurTech space across southeast Asia's fastest-growing digital economies Singapore, Malaysia, Indonesia, Vietnam, Thailand, and Philippines. Driving its growth in the first half of 2021 are 10 key partnerships with leading brands in the e-commerce, travel, telecommunications, logistics and delivery space viz. RedDoorz (Indonesia), MobiFone (Vietnam), Advanced Info Service AIS (TH), Thai Paiboon Insurance (Thailand), Loship (Vietnam), AhaMove (Vietnam), Philinsure (Philippines), Ritase (Indonesia), Fabelio ((Indonesia), and Blibli ((Indonesia), the company says in a statement.

INSURANCE Commissioner Dennis B. Funa was reelected as the chairman of the management board of Asian Reinsurance Corporation (Asian Re). Funa is set to serve a fresh new two-year term of office from 2021 until 2023 following his reelection on June 10, the Insurance Commission said in a statement.

INSURANCE COMMISSIONER (IC) Dennis B. Funa has been reelected as the chairperson of Asian Reinsurance Corp. (Asian Re) and will hold the position for two more years. The IC said in a press release on Monday that Mr. Funa will continue to chair the regional reinsurance firm for two years starting this month until 2023. His previous term ended on June 10. The IC chief started his previous term as chairman of Asian Re’s Management board on June 28, 2019, which followed a two-year stint as vice- chairperson.

The operating performance of National Reinsurance Corporation of the Philippines (Nat Re), with a five-year average return-on-equity ratio of 2.1% (2016-2020), is assessed as adequate, notes AM Best. Underwriting performance improved to a profitable position in 2020, driven mainly by reduced losses from the company’s non-life portfolio and robust profitability from its life reinsurance business.