Corporate Governance
Please be informed that nominations may now be submitted for candidates for the post of three (3) members of the Board of Trustees to replace those whose term of office are expiring on the date of the 2018 Annual Members' Meeting scheduled on Wednesday, May 23, 2018 at 4:15 P.M.
On 20 October 2017, Insular Life submitted to the Insurance Commission a Quarterly Statistical Report covering the third quarter of 2017 (Q3-2017). Please see attached proof of compliance of the same.
In accordance with the Insurance Commission's Circular Letter No. 2016-54, your medical information will be uploaded to a Medical Information Database (MID) accessible to life insurance companies for the purpose of enhancing risk assessment and preventing fraud.
On 20 July 2017, Insular Life submitted to the Insurance Commission a Quarterly Statistical Report covering the second quarter of 2017 (Q2-2017). Please see attached proof of compliance of the same.
Insular Life (InLife) received Insurance Commission's (IC) approval on 08 March 2017 to engage in Bancassurance activities with partner, Union Bank of the Philippines (UBP). This new distribution channel is pursuant to Title 9, Chapter IV of Republic Act No. 10607, otherwise known as the Amended Insurance Code, and the Insurance Commission's (IC) Circular Letter 2015-20 dated 17 April 2015. InLife has a 16.21 percent stake in UBP and thus satisfies the cross-ownership condition precedent to the approval of Certificate of Authority by IC (per IC Circular Letter 2016-53). For its part, UBP received approval from the Bangko Sentral ng Pilipinas (BSP) on 30 March 2017 pursuant to Section X172 and its subsections of the Manual of Regulations for Banks. The two companies adopted the Bancassurance model by forming a unique distribution partnership called "Union for Life". This model is unlike other joint venture models used by earlier Bancassurance partnerships in the country.
News Release for Media and Press
On 20 April 2017, Insular Life submitted to the Insurance Commission a Quarterly Statistical Report covering the first quarter of 2017 (Q1-2017). Please see attached proof of compliance of the same.
As part of the Company's efforts in strengthening its risk management program and in deepening its pool of professional talent, the Company appointed Herson S. Resurreccion as its Market Risk Officer, with a rank of Assistant Vice President. He was involved in Financial Services Risk Management while he was with SyCip Gorres Velayo and Co. (SGV and Co.) and previously served as Market Officer of China Banking Corporation (CBC). He is a Certified Public Accountant.
On 20 January 2017, Insular Life submitted to the Insurance Commission a Quarterly Statistical Report covering the fourth quarter of 2016 (Q4-2016). Please see attached proof of compliance of the same.