Filipino is Recipient of ASEAN Insurance Young Manager of the Year Award

(15 November 2007- Kuala Lumpur, Malaysia) - The 10th ASEAN Regulator meeting and the 33rd ASEAN Insurance Council (AIC) meeting hosted by Kuala Lumpur from 14-16 November 2007, announced the Young ASEAN Insurance Manager Award (YAMA) 2007 this morning. The winner, from the Philippines, Mr. Melvin J. Estaban, is the Vice President for Segment Marketing of The Philippines American Life and General Insurance (Philam Life). He received the award from Dato’ Mohd Razif Abd Kadir, Deputy Governor of Bank Negara Malaysia in an official ceremony.
He was selected from nine finalists from ASEAN, by a panel of 11 judges hailing from the ASEAN region, comprising industry leaders and past winners.

FOCUS ON MICROINSURANCE

In receiving the award, Mr Estaban pledged to continue to encourage microinsurance in the Philippines for the poor, which makes up 50% of the population in his home country. He hoped to collaborate with ASEAN countries to increase the penetration of insurance among the poor and enable the less privileged to be protected in times of uncertainty.

DEVELOPING TALENT

The YAMA reinforces the ASEAN Insurance Council’s initiative to encourage more young managers within the industry to actively contribute and excel in their field of work. This will lead to the development of a skilled pool of human capital within the ASEAN insurance industry.

PAST WINNERS

Former winners of YAMA are very successful in their careers and have continued to spread the importance of insurance and protection in their respective markets.  Mr. Sara Lamsam, the inaugural winner of YAMA 2005, is now the President of Muang Thai Life while Mr. Vong Bunintreavuth, winner of the YAMA in 2006, is the Managing Director of Cambodia Reinsurance and has also been conferred with the honourable title of “His Excellency” from the Cambodia Government.

Dato’ Mohd Razif Abd Kadir, Deputy Governor of BNM presents the Award to Melvin J. Estaban