The Philippines Insurance Commission announced that Insurance Commissioner Reynaldo A. Regalado has been elected Chairperson of the Asian Reinsurance Corporation’s Management Board for a two-year term from 2025 to 2027, following the 19th Annual General Meeting held on 12 June 2025. Dr. W.M. Vishaka Wanasighe, Chairman of the National Insurance Trust Fund Sri Lanka, was elected Vice-Chairperson. At the same meeting, Asian Re’s Shareholders Assembly approved the audited financial statements for the year ended 31 December 2024. Asian Re reported a combined ratio of 84.9% (an improvement of 15.3% over the prior year), a 117.9% increase in net profit to USD 7.01 million for FY 2024, and a solvency ratio of 336% under Thailand’s risk-based capital guidelines; A.M. Best also upgraded Asian Re’s Financial Strength Rating to B++ from B+ and its Long-Term Issuer Credit Rating to bbb from bbb- with stable outlooks in 2025.
Philippines Insurance Commission 2025-06-26
Philippines Insurance Commission announces Commissioner Reynaldo Regalado elected chair of Asian Re Management Board for 2025 to 2027
The Philippines Insurance Commission announced that Insurance Commissioner Reynaldo A. Regalado has been elected Chairperson of the Asian Reinsurance Corporation’s Management Board for 2025-2027. Asian Re’s Shareholders Assembly approved the 2024 financial statements, reporting a combined ratio of 84.9%, a 117.9% increase in net profit to USD 7.01 million, and a solvency ratio of 336%. A.M. Best upgraded Asian Re’s Financial Strength Rating to B++ and its Long-Term Issuer Credit Rating to bbb.