Etiqa Philippines, a long trusted name in the insurance industry as a steadfast provider of life and general insurance solutions, achieved a significant milestone with the renewal of its Certificate of Authority by the Insurance Commission.
This renewal, marks another chapter in Etiqa’s journey of excellence and dedication to the Filipino people. The process involved meticulous compliance with all regulatory requirements, achieving impressive Risk-Based Capital Ratios (RBC2) of 181 percent for life business unit and 608 percent for non-life business unit, way above the regulatory requirements.
A high RBC ratio for an insurance company signifies strong financial stability, indicating that the insurer has more than enough resources to cover its risks and obligations, while safeguarding the company’s capacity to fulfill its long term obligations.
Since its establishment, Etiqa has been committed to delivering innovative and reliable insurance products, ensuring financial protection for Filipinos. As part of the Maybank Group, one of the region’s largest and most financially stable institutions, Etiqa Philippines has consistently demonstrated financial strength and stability, earning the trust of its partners, clients, stakeholders and the general public.
The license renewal coincides with a significant development in Etiqa’s leadership with the appointment of Anthony Lou Bernabe as its new President and Chief Executive Officer.
Bernabe, who brings with him more than decades of experience in the insurance and financial services industry says the license renewal reaffirms Etiqa’s commitment to expanding insurance penetration, promoting financial inclusivity, advancing sustainability and ensuring the future of Filipinos.
“Etiqa aims to enhance insurance accessibility and contribute to nation building by expanding distribution channels and offering innovative, relevant products. Through this, we reaffirm our commitment to driving growth and innovation, ensuring that Etiqa remains a leading insurer in Asean region under the Etiqa brand,” Bernabe said.
