The National Reinsurance Corporation of the Philippines (Nat Re) is looking forward to new gains in 2022 on the back of better economic prospects at home, brought about by relaxed pandemic restrictions and a more robust life reinsurance segment.
“We are optimistic of recapturing gains in light of the improving economic environment, while remaining mindful of ever-present natural disaster threats and geo-political risks at home and abroad,” said Allan Santos, Nat Re president and chief executive officer.
“We have been providing claims processing support and guidance to our cedants affected by the typhoon. We also have reduced and continue to underweight our investments in equities while taking advantage of the increase in yields of fixed income securities, factoring in inflation in pricing and managing insurance coverages.” Santos said.
Meanwhile, AM Best, the world’s first credit rating agency, forecasts Nat Re’s underwriting in 2022 to be backed by a more streamlined portfolio and the company’s domestic life reinsurance segment.
