Philippine insurance regulatory chief re-elected as chairman of Asian Re

Mr Dennis B Funa, head of the Philippines Insurance Commission, has been re-elected unanimously as the chairman of Bangkok-based Asian Reinsurance Corporation (Asian Re).

This is his second term as chairman following the successful completion of his first two-year term which spanned 2019-2021.

Dr Gholamreza Soleymani, president of Bimeh Markazi, (Central Insurance of Iran) has been re-elected as vice chairman, also for a second term of two years.

Asian Re is an intergovernmental organisation established in May 1979 under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP). It commenced operations in 1980 and its conducts business in Asia, the Middle East and Africa.

At present, Asian Re has 10 regular founding member states, namely, Afghanistan, Bangladesh, Bhutan, China, India, Iran, the Philippines, South Korea, Sri Lanka and Thailand. In addition, 19 leading insurance and reinsurance companies from the Asia Pacific region are associate members of Asian Re.

Asian Re accepts treaty and facultative business covering all traditional classes from insurers in member states and beyond in Asia and Africa and has been assigned a rating of B+ (Good) by A.M. Best with a stable outlook.

Source: Asia Insurance Review