BOARD OF DIRECTORS

Wilfredo C. Maldia, Chairman

Chairman of Nat Re since June 2019 and Director of Nat Re since December 2017. Mr. Maldia has been a member of the Government Service Insurance System (GSIS) Board of Trustees since December 2016. He sits as an independent director in the Board of the First Valley Development Bank and as member of the Board of ROTECO, Yamang Lupa’t Dagat Corporation, and CEAM Corporation.

Prior to his appointment to the GSIS Board, he served as senior adviser to the Ropali Group of Companies, and as director of the Farmers Savings & Loan Bank, Inc. and Banco Alabang Inc. (A Rural Bank). He also worked as a consultant to the Asian Development Bank as financial & organizations specialist for Agricultural Development Bank of Nepal, Agricultural Credit Specialist for Bangladesh Krishi Bank, and as rural credit specialist of the Estanislao Lavin & Associates. He was likewise the financial specialist/expert of the Urban Integrated Consultants, Incorporated and Livestock Development Program Office (LDPO) & the Kilusang Kabuhayan at Kaunlaran (KKK). He also worked as Farm Manager at Universal Robina Corporation, a private company engaged in food manufacturing business. Mr. Maldia has also worked in the government sector for about 40 years, of which, 36 years were spent at the Land Bank of the Philippines (LANDBANK). He started his career at LANDBANK as a senior project analyst in 1976 (for 3 years), after a short stint working as an agronomist and researcher in the Bureau of Plant Industry and Bureau of Agricultural Economics, respectively, from 1971 to 1974. With his passion to work, he consistently rose from the ranks. In 2007, he became the Executive Vice President and head of the LANDBANK’s Agrarian and Domestic Banking Sector (ADBS) covering the agrarian, banking and lending operations until his retirement in 2012. With his leadership, Mr.Maldia has developed and introduced various innovative lending programs in the field of agriculture and finance. As ADBS head, he also chaired various committees, namely: Domestic Banking Loans Committee, Branch Operations Committee, Official Development Assistance Bids and Awards Committee, ADBS Sectoral Committee. He was likewise a member of the Board of LANDBANK subsidiaries (i.e, Masaganang Sakahan Incorporated and LANDBANK Insurance Brokerage Inc), and member of the Governing Board of the Agricultural Guarantee Fund Pool. In 2008, he was recognized as one of the most distinguished alumni of the University of the Philippines – Los Baños.

Mr. Maldia graduated with a Bachelor of Science degree in Agriculture, major in Agricultural Economics from the University of the Philippines Los Baños, Laguna in 1969. In 1979, he also completed his Bachelor’s degree in Commerce major in Accounting from the Polytechnic University of the Philippines, and immediately obtained his license as a Certified Public Accountant (CPA). He earned his Master’s degree in Business Administration from the Philippine Christian University in 1984.

Yvonne S. Yuchengco, Vice Chairman


Director of the Corporation since June 2006. Ms. Yvonne S. Yuchengco is the President and Director of Malayan Insurance Company, Inc. and MICO Equities, Inc. since 1995, Alto Pacific Corporation, and Philippine Integrated Advertising Agency, Inc. She is currently the Chairperson and Director of the RCBC Capital Corporation; Chairperson and President of Yuchengco Tower Office Condominium Corporation, Y Tower II Office Condominium Owners Asso. Inc. and Malayan Securities Corp; Chairperson of First Nationwide Assurance Corporation and XYZ Assets Corporation; Advisory Board Member of Rizal Commercial Banking Corporation; Director, Vice President and Treasurer of Pan Managers, Inc.; Treasurer and Director of Pan Malayan Management & Investment Corporation, Honda Cars Kalookan, Inc, Mona Lisa Development Corp., Malayan High School of Science, Inc. and Petroenergy Resources Corporation; Director of Pan Malayan Realty Corporation, Malayan Insurance (H.K), Malayan International Insurance Corporation, Manila Memorial Park, Inc., La Funeraria Paz Sucat Inc., iPeople Inc., Seafront Resources Corporation, House of Investments, Inc., HYDee Management and Resource Corporation, Malayan Colleges, Inc. (operating under the name Mapua Institute of Technology, Luisita Industrial Park Corporation, Malayan Colleges Laguna, Inc., Asia-Pac Reinsurance Co., Ltd., AY Holdings, Inc., Pan Malayan Express, Inc., Pan Pacific Computer, Inc., Shayamala Corporation, and YGC Corporate Services, Inc.; Trustee of AY Foundation, and Philippine Asia Assistance Foundation, Inc.; Trustee and Chairperson of the Malayan Plaza Condominium Owners Asso., Inc.; Trustee and Vice Chairperson of Yuchengco Museum, Inc.; and Assistant Treasurer of Enrique T. Yuchengco Inc. She was also formerly President of the PIA/Phil-Asia Assistance Foundation, Inc. She graduated with a Bachelor of Arts degree from Ateneo de Manila University in 1977 and took up further studies in UAP under SBEP program.

Allan R. Santos, Director, President, and Chief Executive Officer


Mr. Allan R. Santos, President and Chief Executive Officer, has 25+ years of experience in local and international insurance/reinsurance markets in the US, Asia and Europe. Prior to his current role, he was Nat Re’s Chief Operating Officer, overseeing Finance, Investments, Data and Analytics, HR, and Technology. He has held various leadership positions in several companies including Chief Operating Officer for the Affiliate Companies of Philam Life, Regional Chief Financial Officer for Europe at Cigna, Global Head of Product Development at Cigna, and Chief Actuary for Asia at Allied World Assurance Company.

Mr. Santos holds a Master’s Degree in Applied Math and Bachelor of Science in Math both from the University of the Philippines. He is a Fellow of both the Actuarial Society of Philippines and the Society of Actuaries (US), and is a Member of the American Academy of Actuaries.

Joli Co Wu, Director/Treasurer


Director of the Corporation from July 2015. Ms. Joli Co Wu is the President and Chief Executive Officer of QBE Seaboard Insurance Philippines effective April 7, 2014. Prior to this, she was with Seaboard Eastern Insurance where she started her insurance career and eventually lead the company as its President/CEO for the last 10 years. She has extensive experiences in Marine, Aviation, Casualty and Motor Insurance.

Throughout her career, she has attended management, insurance and reinsurance courses, both local and international, to help hone her experience in the Industry. She is a member of the Board of Directors of QBE Seaboard Insurance Philippines as well as a member of the Board of Trustees of the Insurance Institute for Asia and the Pacific. She is also an officer of the Marine Underwriters of the Philippines. Ms. Wu attended the Immaculate Conception Academy for her primary and secondary education and graduated with a degree in Bachelor of Arts, Major in Financial Management from Catholic University of America, Washington DC.

Antonio M. Rubin, Director

Director of Nat Re since January 2018.  Mr. Rubin is the Executive Vice President of Malayan Insurance Company, the Chairman of the Board of Directors of Bankers Assurance Corporation (BAC), and the President of the First Nationwide Assurance Corporation (FNAC). Mr. Rubin is a seasoned underwriter in the insurance industry, having been in the practice of insurance for more than twenty-five years. Prior to his current role as EVP of Malayan Insurance Company, he headed various divisions in the company namely the Risk Analysis Department, the Fire and Motor Car Underwriting Divisions, the Sales Division, and finally, the entire Underwriting Division. He was also the Chairman of the Board of Directors of the Philippine Insurance Rating Association (PIRA) and Philippine Machinery Management Services Corporation (MacPool),  and Head of Risk Management Group of the  National Steel Corporation.

His expertise in the industry was further solidified and reinforced by the various specialized seminars, conventions and trainings he attended locally and abroad. Mr. Rubin went to Mindanao State University in 1974  for his degree in Bachelor of Science in Mechanical Engineering and Ateneo De Manila University for his MBA

Jocelyn DG Cabreza, Director


Director since December 2016. Ms. Cabreza is a member of the Board of Trustees of the Government Service Insurance System (GSIS) and chairs its Audit Committee. She is also a member of GSIS Board’s Risk Oversight Committee and GSIS Provident Fund Committee of Trustees and is a director of Banco Laguna, Inc. Ms. Cabreza was a former Executive Vice President of Land Bank of the Philippines, Director of Land Bank Resources Development Corp and Land Bank Countryside Development Foundation. She is a certified public accountant, a master’s degree holder and a seasoned banker with 37 years of extensive experience in different areas of banking and finance, internal audit and operations and strategic policy formulation and implementation.

Nora M. Malubay, Director

Director since January 2019, Atty. Nora M. Malubay graduated from the Pamantasan ng Lungsod ng Maynila  with Bachelor of Science in Business Administration major in Accountancy, Magna cum laude in 1979. She passed the CPA board examination on that same year.

In 1979, she worked as Staff Auditor at Sycip, Gorres, Velayo & Co. Believing that it is time for her to step up and make a difference, she chose to serve in public office and entered Government Service Insurance System (GSIS) in 1981.

Year 1995 when she finished her Bachelor of Laws at San Beda College and passed the Bar Examination in September of same Year.

Rose from the ranks, she has been assigned to different Departments of GSIS from Internal Auditor I to Senior Vice President of National Capital Region (NCR) Operations Group.

In 2016, she was appointed by the GSIS Board of Trustees as the Officer-in-Charge President and General Manager of GSIS, until the President of the Philippines appointed a new PGM in November 2017.

Currently she is the Executive Vice President for Core Business Sector which covers the operations for Social Insurance, Housing, and General Insurance.

Rafael G. Ayuste, Jr., Director


Director of the Corporation since June 2012. Mr. Rafael G. Ayuste, Jr. is a Senior Vice President (Wealth Advisory and Trust Group) of BDO Private Bank, Inc. Prior to this, he was First Senior Vice President and Head of the Trust Banking Group of Philippine National Bank from 2009-2013; Vice President and Head of Retail Branch Business, Citibank Savings of Citibank N.A. Philippines from August 2008 to November 2009; Senior Vice President/Deputy Group Head of Trust banking of the Metropolitan Bank and Trust Company through merger with Global Business Bank from 2000 to 2008; Vice President/Head- Securities Distribution of the Banco Santander Philippines, Inc. from 1999 to 2000; Vice President/Head- Trust Division, Security Bank Corporation from 1996 to 1999; Assistant Vice President and Head of Peso and Dollar Trading Desks of Citibank, N.A., Citibank Global Asset Management (CGAM) from 1989 to 1996. Concurrently, he is the President and Director of the Trust Officers Association of the Philippines (TOAP) and former Director from 2003 to 2006 where he was elected President in 2005. He has attended various seminars such as Risk Management, Citibank Phils., 1995; Financial Risk Management, Pi Eta Singapore, 2004; Risk Management, BNP Paribas, 2006; Corporate Governance, Bankers Association of the Philippines (BAP), 2007. He obtained his Bachelor of Science degree major in Business Administration from the University of Sto. Tomas in 1986.

Maria Consuelo A. Lukban, Director


Director since October 2018, Ms. Lukban is the Head of the Strategic and Corporate Planning Department of Bank of the Philippine Islands (BPI). She is primarily responsible for financial planning and capital management, investor relations and enterprise development projects. She has over 30 years of banking experience, taking on various senior roles within BPI in its asset management and trust business, insurance business, corporate banking marketing and deposit product management. Ms. Lukban completed her MBA at the University of Chicago in 1992 and BS Management Engineering in 1986 at the Ateneo de Manila University.

Reginaldo Anthony B. Cariaso, Director

Mr. Cariaso is Head of Strategy, Products and Support under Corporate Banking Group of the Bank of the Philippine Islands (BPI). He is also Chairman of BPI Securities, the brokerage arm of BPI. Mr. Cariaso joined BPI Capital, the investment banking subsidiary of BPI in 2013 and served as its President from January 2018 to April 2019.

Prior to joining BPI Capital, Mr. Cariaso worked in investment banking for JP Morgan and Nomura International based in Hong Kong covering Asia ex- Japan.

He has over 20 years of investment banking and extensive experience originating advisory and capital markets transactions, in a variety of industries, including financial institutions, across Asia and the Philippines. While at BPI Capital, Mr. Cariaso led a number of landmark transactions in the Philippines including some of the largest debt capital markets deals, innovative project and structured financing, complex advisory assignments, and brought some of the most familiar names to the public equity markets.

Mr. Cariaso was a Lieutenant in the United States Navy and received a B.A. degree from the University of Pennsylvania.

Ermilando D. Napa, Lead Independent Director


Independent Director of the Corporation since June 2011. Mr. Ermilando D. Napa is presently the President and CEO and Vice-Chairman of the Board of Directors of the Philippine Export-Import Credit Agency (PhilEXIM), also known as the Trade and Investment Development Corporation of the Philippines (TIDCORP), a government financial institution attached to the Department of Finance. He is the Founding CEO of Manila Consulting and Management Co., Inc., Century Woods, Inc., and Catanauan Resources and Development Corporation. Currently, Mr. Napa is an Independent Director at the National Reinsurance Corporation of the Philippines (PhilNaRe or NRCP) and the CIIF Oil Mills Group. He is the Chairman of the Audit Committee of PhilNaRe and CIIF Oil Mills, as well as a Member of the Interim Governance Board of the National Life Insurance Company of the Philippines (NLIC). His previous professional experience include being a Partner of SyCip Gorres & Velayo Company (Philippines), a Principal of Kassim Chan & Company in Kuala Lumpur, Malaysia (a former member firm of SGV Group and Delloite Haskins & Sells International), and a Manager of Arthur Andersen in New York. In 2013, he was appointed as Conservator of the NLIC. Mr. Napa has attended special trainings and various courses such as Strategic Management and IMPACT Productivity Improvement in Chicago and Corporate Finance in New York. He holds a bachelor’s degree in Business Management from Aquinas University (1970) and a master’s degree in Management from the Asian Institute of Management (1980).

Medel T. Nera, Independent Director


Independent Director of the Corporation since July 2011. Mr. Medel T. Nera is the President and CEO of House of Investments, Inc. and President of RCBC Realty Corp. He serves as Director of House of Investments and its significant subsidiaries and associates. He also serves as Director of Rizal Commercial Banking Corporation and Seafront Resources Corp. He was a former senior partner of SyCip, Gorres, Velayo and Co., CPAs (SGV) where he served as Financial Services Practice Head. He also serves as Director and Treasurer of CRIBS Foundation Inc. Mr. Nera holds a degree in Bachelor of Science in Commerce from Far Eastern University where he graduated in 1976. He obtained his Master of Business Administration degree from New York University in 1982.

Rex Maria. A. Mendoza, Independent Director

Mr. Rex Mendoza is the President & CEO of Rampver Financials, a dynamic niche player in financial services specializing in investments, and the biggest distributor of mutual funds in the Philippines. He sits as a independent director of publicly-listed Globe Telecom and Prime Orion Properties, Inc.. He is also an independent director of the Philippine Health Insurance Corporation (PhilHealth), appointed by President Duterte effective March 6, 2019. Mr Medoza’s directorships also include Esquire Financing, Inc., the Cullinan Group, TechnoMarine Philippines, Seven Tall Trees Events Company, Inc., and Mobile Group, Inc.  Rex is also a member of Bro. Bo Sanchez’ Mastermind Group, and is cited by many as one of the best leadership and business speakers in the country. He is the author of the books, Traiblazing Success and Firing on all Cylinders, a certified national bestseller. Rex served as the President & CEO of Philam Life, one of the country’s most trusted financial services conglomerates and was Chairman of its affiliates and subsidiaries. He was also Senior Adviser to the Chief Executive Officer of the AIA Group. Prior to this, he was previously Senior Vice President and Chief Marketing and Sales Officer of Ayala Land, Inc.  He was also Chairman of Ayala Land International Sales, Inc., President of Ayala Land Sales, Inc., and Avida Sales Corporation.

He has a Master’s Degree in Business Management with distinction from the Asian Institute of Management. He was one of the 10 Outstanding Graduates of his batch at the University of the Philippines where he obtained a BSBA degree with a double major in marketing and finance. Rex was awarded Most Distinguished Alumnus of the UP Cesar Virata School of Business.  He is also a Fellow with Distinction at the Life Management Institute of Atlanta, Georgia, USA, a Registered Financial Planner (RFP) and a four-time member of the Million Dollar Round Table (MDRT).  Rex was a professor of Marketing and Computational Finance at the De La Salle University Graduate School of Business.  He taught strategic marketing, services marketing and services strategy.  He has served as Chairman of the Marketing Department and was awarded as one of the University’s most outstanding professors.

SENIOR MANAGEMENT

Allan R. Santos, President and Chief Executive Officer


Mr. Allan R. Santos, President and Chief Executive Officer, has 25+ years of experience in local and international insurance/reinsurance markets in the US, Asia and Europe. Prior to his current role, he was Nat Re’s Chief Operating Officer, overseeing Finance, Investments, Data and Analytics, HR, and Technology. He has held various leadership positions in several companies including Chief Operating Officer for the Affiliate Companies of Philam Life, Regional Chief Financial Officer for Europe at Cigna, Global Head of Product Development at Cigna, and Chief Actuary for Asia at Allied World Assurance Company.

Mr. Santos holds a Master’s Degree in Applied Math and Bachelor of Science in Math both from the University of the Philippines. He is a Fellow of both the Actuarial Society of Philippines and the Society of Actuaries (US), and is a Member of the American Academy of Actuaries.

Alexander L. Reyes, Head of Non-Life Reinsurance


Mr. Alexander  Reyes, Senior Vice President and Head of Non-Life Reinsurance, has held various senior management positions covering Marketing, Sales, Underwriting, and Claims operations in leading non-life insurance direct-writing companies in the Philippines. He graduated from the University of the Philippines, Diliman with a B.S. in Business Administration.

Victor R. Tanjuakio, Head of Life Reinsurance


Mr. Vic Tanjuakio, First Vice President and Head of Life Reinsurance, is an actuary by profession, having held Chief Actuary positions in Maxicare Healthcare Corporation, Asian Life and General Assurance, and Great Pacific Life (now Sunlife Grepa). Before joining Nat Re in 2014, he was Head of Corporate Solutions of Philippine AXA Life. He is a Fellow of the Actuarial Society of the Philippines and has served as a member of its Board of Governors several times. He earned his B.S. Mathematics degree from the Ateneo de Manila University.

Regina S. Ramos, Head of Risk and Compliance

Ms Regina Ramos, Vice President and Head of Risk and Compliance, is a Certified Public Accountant and a Certified Internal Auditor. Prior to joining Nat Re in July 2000, Ms. Ramos held positions in various capacities in Accounting, Finance and Operations in a non-life direct insurer. She was also with the SyCip, Gorres, Velayo & Co., CPAs (SGV), the largest professional services firm in the Philippines. She obtained her degree in Bachelor of Science in Commerce, major in Accounting from St. Paul College Manila.

Daisy C. Salonga, Head of Investments


Ms. Daisy Salonga, Vice President and Head of Investments, held various executive positions in treasury covering foreign exchange, fixed income, sales and market studies in leading financial institutions like Citibank N.A. Manila, Credit Agricole Indosuez Offshore Bank Manila, China Banking Corporation, and Greenwich Associates. She was nominated as one of the Most Astute Investors in the Philippine Peso Bonds by The Asset Benchmark Research in 2012, 2013, and 2014. She earned her degree in Bachelor of Science in Commerce, major in Business Management from De La Salle University.

Santino U. Sontillano, Head of Finance


Mr. Santino Sontillano, Senior Assistant Vice President and Head of Finance, is a Certified Public Accountant. Prior to joining Nat Re in January 2016 as Head of Internal Audit, Mr. Sontillano worked with various big 4 auditing firms in the Philippines, Singapore and Bermuda .  He obtained his degree in Bachelor of Science in Accountancy from Ateneo de Zamboanga.

Regina D. Papa, Head of Human Resources and Office Services

Ms. Regina Lourdes D. Papa, Head of Human Resources and Office Services, has over twenty-five years of experience in Human Resources Talent Acquisition, Learning and Development, Compensation Planning and Administration, Performance Management and Employee Relations.  Prior to her current role in Nat Re, she served as Treasurer and Managing Director of Integral Consultants, Inc., spearheading business planning and overseeing the company’s career management group operations. She also designed and conducted Management and soft skills training programs as a Human Resources Management Consultant. As an Assistant Vice President at Mapfre Asian Insurance Corporation, she was responsible for formally setting up the company’s Human Resources Management Department as well as providing strategic advice on organization development initiatives.

Atty. Noel A. Laman, Corporate Secretary


Atty. Noel A. Laman is a founder and a Senior Partner of Castillo Laman Tan Pantaleon & San Jose Law Offices. He serves as a Director and/or Corporate Secretary of GlaxoSmithKline Philippines Inc, Boehringer Ingelheim (Phils.), Inc., Merck Inc., Eli Lilly (Phils.), Inc., and DMCI Holdings, Inc. and its various subsidiaries. His law practice concentrates on corporation and general business law, foreign investments, mergers and acquisitions, and intellectual property law. He obtained his Master of Laws degree from the University of Michigan Law School as a De Witt scholar, and his Bachelor of Jurisprudence and Bachelor of Laws degrees from the University of the Philippines College of Law.

Atty. Ma. Pilar M. Pilares-Gutierrez, Assistant Corporate Secretary


Atty. Ma. Pilar M. Pilares-Gutierrez is a Partner at Castillo Laman Tan Pantaleon San Jose Law Offices. She holds the position of Corporate Secretary / Assistant Corporate Secretary in several Philippines corporations such as DMCI Holdings, Inc. and its various subsidiaries. She obtained her Bachelor of Laws Degree from the University of the Philippines College of Law, and her Bachelor of Science degree major in Legal Management from the Ateneo de Manila University.

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