The National Reinsurance Corporation of the Philippines (Nat Re) bagged the Reinsurer of the Year award at the prestigious 24th Asia Insurance Industry Awards (AIIA) hosted virtually from Singapore. The Philippines’ national reinsurer bested two other finalists, namely global reinsurers Reinsurance Group of America and SCOR Reinsurance. The award at the AIIA marks Nat Re’s first-ever win for the Reinsurer of the Year category.
The top prize was given to Nat Re for demonstrating excellence across a wide range of reinsurance activities, such as the integrated use of technology, customer service, marketing and business development; responsiveness to the complex needs of its cedants; and effective collaboration with insurers.
“Our deepest gratitude to the Asia Insurance Review for granting Nat Re this honor. Winning this award is truly a remarkable moment for us,” Allan Santos, President/CEO at Nat Re, said in his acceptance speech.
“In the past several years, we revitalized our efforts toward our clients and partners and stepped up as the Philippines’ national reinsurer,” Santos said. “This award is a testament to the hard work, perseverance, and dedication of our Board of Directors, senior leaders, and employees.”
Over three hundred applicants sent in their nominations and 1,200-word write-ups for a total of sixteen categories for organizations and for individuals. After the first round of the judging process, only forty-eight finalists were chosen. The second and final round of judging was then conducted via voting through a secret ballot. The entire judging process was helmed by a panel of thirty-eight (re)insurance executives from Asia and was audited by KPMG.
The AIIA has been organized annually since 1997 by the Asia Insurance Review, a highly recognized and widely read professional regional magazine for the insurance industry in Asia.
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