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.

Fellow ASEAN, Due to a high number of applicants, we officially announce that the intake of this month’s ARP: ‘TREATY WORDINGS – A PRACTICAL PERSPECTIVE’ is now closed. While we are aware that most of you are still interested and looking forward to attending the session, we do want to deliver the best experience of the highest quality of our modules, thus we are no longer taking more participants for this intake. However, should you feel the necessity of and are still interested in taking the virtual training on this particular module, we will be more than delighted to re-launch the session on some dates at the end of this year, which will be informed to you further. We hope that we will be able to accommodate your demands by having our remarkable speaker from TII back again. Wish to see you all when that happens and see you soon for those who already have their seat reserved for this month’s session; hope it will be an exciting and beneficial one for you. Thank you very much for your kind attention. Stay Safe & Healthy … About ASEAN Reinsurance Programme (ARP) The ASEAN Reinsurance Programme (ARP) aims to enhance reinsurance education and talent development in the region. It is an initiative under the ASEAN Insurance Education Committee and the ASEAN Reinsurance Working Committee and managed by the Insurance Institute of the Asia-Pacific (IIAP) in collaboration with the Singapore College of Insurance (SCI), the Malaysian Insurance Institute (MII), the Thailand Insurance Institute (TII) and the Dewan Asuransi Indonesia (DAI). The ARP is a first of its kind, multi-pronged holistic talent and professional development initiative that combines technical training programmes with internships in time to come. The Programme is slated for February 2021 kicking off with a 2-hour webinar organized by the IIAP, focusing on reinsurance developments in the ASEAN marketplace. Participants who are interested in the technical training programmes will be encouraged to go through a Reinsurance Primer course and assessment, sponsored by SCI. This Primer covers the basic concepts of reinsurance. Participants can register for the various technical training programmes on a stand-alone basis. For a start, only one intake will be offered in 2021 and we will limit the number of participants to no more than 30 per class. Participants are expected to have a minimum of three years of experience in reinsurance. Copyright © 2021 ASEAN Insurance Council, All rights reserved. Our Mailing Address is : ASEAN Insurance Council Permata Kuningan Building 2nd Floor, Jl. Kuningan Mulia Kav. 9C Guntur Setiabudi Jakarta Selatan - DKI Jakarta 12960 This email was sent to mfrellosa@pirainc.com.ph why did I get this? unsubscribe from this list update subscription preferences ASEAN Insurance Council · Jl. Kuningan Mulia No.9C, RT.6/RW.1, Menteng Atas, Kecamatan Setiabudi · South Jakarta 12980 · Indonesia

SEN. Christopher Lawrence "Bong" Go on Monday honored overseas Filipino workers (OFWs) for their continuing sacrifices by pledging his full commitment in pushing for the passage of a measure that will create the Department of Migrant Workers and Overseas Filipinos (DMWOF). "It is not easy to be alone in a foreign land and to be away from your family for a very long time. It is a showcase of unconditional love," he said. "Yet, I am sure those sacrifices will not be in vain as you will see the fruits of your labor through the smiles and warmth of your loved ones from here to wherever you are in the world."