Commissioner of the Philippines’ Insurance Commission, Denis Funa, has been announced as the new Vice Chairman of the Management Board of the Asian Reinsurance Corporation (Asian Re).
Funa’s election occurred at the 40th Meeting of the Council of Members and 11th Meeting of the shareholders Assembly in Bangkok, 30th June, 2017.
Launched in May 1979, Asian Re is an intergovernmental reinsurer that accepts business from insurance markets in its member states, and is headquartered in Bangkok, Thailand.
Membership to Asian Re, which also serves as a regional base for the collection of insurance information and also the development of insurance and reinsurance industry expertise, used to be limited to state members or associate members of the UNESCAP. Although this changed in July, 2005 when associate membership was then opened to Non-UNESCAP member-states, including private organizations, private corporations, non-governmental organizations, and multilateral institutions.
Currently, Afghanistan, Bangladesh, Bhutan, China, India, Iran, South Korea, Sri Lanka, Thailand, and the Philippines are UNESCAP member states. Furthermore, 19 insurance and reinsurance firms from Asia are currently associate members.
