Photo and bio courtesy of Insular Life.
INSULAR Life Assurance Co. Ltd. (Insular Life Philippines) has announced changes in its top management ranks.
“I will be retiring from this company which I have served, cherished, and loved during the last 60 years. Through the help of all the trustees, officers, employees and sales force, we have brought this company to its eminent position of being the largest Filipino life insurance company. It is now time to transfer the stewardship of Insular Life to the next leaders who will chart its new course and bring it to even greater heights,” Chairman of the Board and CEO Vicente R. Ayllón. He will take on the role of chairman emeritus up to Dec. 31 2016 to support the transition as the firm welcomes new people to lead the firm.
Insular Life said through Mr. Ayllon’s leadership from 1977, the insurer grew its assets from P0.7 billion that year to P104.4 billion as of end-2014. Net worth of the company was at its highest at P25.7 billion.
Elected as incoming Chairman of the Board was Victor B. Valdepeñas, the outgoing president and chief operating officer of Aboitiz-led Union Bank of the Philippines (UnionBank).
Appointed as Insular Life’s incoming CEO was Nina D. Aguas, former president and CEO of The Philippine Bank of Communications. Ms. Aguas has over 30 years of experience in major financial institutions such as Citibank and Australia New Zealand Bank.
“She has a proven track record of building new businesses as well as growing large existing businesses in highly competitive and challenging environments, and through difficult economic cycles ranging from the Asian crisis to the recent global financial crisis,” Insular Life said.
News story from Business World Online.