Reynaldo Regalado, Chief of the Philippine Insurance Commission, has been selected as the new Chairperson of Asian Re’s management board for 2025-2027.
He will succeed Thailand’s Sumalee Satitchaichareon, who was appointed last year.
Dr. W.M. Vishaka Wanasinghe, chairman of Sri Lanka’s National Insurance Trust Fund, was elected Vice Chairperson.
In his new role, Regalado–who served as Asian Re’s Vice Chairman from 2023 to 2025–will oversee the reinsurance operations of the intergovernmental organisation which has 10 members including the Philippines, Afghanistan, Bangladesh, Bhutan, China, India, Iran, South Korea, Sri Lanka, and Thailand.
Prior to joining the Philippine Insurance Commission in 2023, Regalado served as Administrator at the Philippine Overseas Employment Administration (now the Department of Migrant Workers) and as Assistant Secretary of the Department of Labor and Employment.
Commenting on his appointment, Regalado stated: “I am grateful for the trust and confidence reposed upon me by the Council of Members. I look forward to working collaboratively with the Council to advance the
objectives of Asian Re.”
Asian Re’s board changes follow a successful recovery in profitability in 2024. In early June, ratings agency AM Best upgraded its Financial Strength Rating to B++ and its Long-Term Issuer Credit Rating to “bbb,” supported by a strong combined ratio of 85.3%.
