Nat Re appoints new CEO, president

The National Reinsurance Corporation of the Philippines (Nat Re) has appointed Allan Rossi Santos as its new president and CEO effective Aug. 16, 2018, succeeding Augusto Hidalgo III.

Santos was Nat Re’s executive vice president and chief operating officer overseeing finance, investments, data and analytics, technology, human resources and office services. He has 25+ years of experience in local and international insurance/reinsurance markets in the US, Asia and Europe.

Nat Re provides life and non-life reinsurance capacity to the Philippines and neighbouring insurance markets. In 2017 the company shrank gross premiums to PHP 3.21 billion ($60 million) from PHP 3.38 billion in 2016. Net profit fell to PHP 50.0 million from PHP 78 million over the period. The combined ratio deteriorated to 101.8 percent from 99.1 percent.

“We will continue to build on our achievements thus far to meet new milestones, conquer more challenges, and provide better services to our clients, partners, and shareholders,” Santos said. “We look forward to further strengthening the business and expanding our horizons.”

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