EY APAC Insurance Leader visits Manila

EY APAC Insurance Leader Jonathan Zhao and Steve Cheung from EY Hong Kong were in Manila recently, and together with SGV Professional Practice Director and Risk Management Head Lucy Chan, Assurance Partner Narlet Ramos (BLR), and Senior Director Romeo Abada from SGV’s Actuarial and Pension Services group, paid a courtesy call on the Insurance Commissioner and Deputy Insurance Commissioners. During the visit, they discussed leading insurance supervisory practices on the appointed-actuary role and on Solvency II. The Insurance Commissioner summarized recent developments in the Philippine insurance industry and the initiative towards mandatory catastrophe insurance coverage.

Together with SGV Talent Hub Group Leader Arnel de Jesus, BLR, and Romeo Abada, Jonathan and Steve also visited various life insurance companies and discussed EY’s capabilities on the anticipated International Financial Reporting Standard 17, Insurance Contracts; actuarial modeling; and other insurance advisory services.

According to Jonathan, “The Philippines is such a promising market.” Given the big potential for actuarial services in the Philippines on both the demand and supply sides, he described it as a “great place to build our brand in actuarial and insurance advisory.”