Mr Reynaldo A Regalado, Insurance Commissioner of the Philippines, has been elected as the chairman of Asian Reinsurance Corporation (Asian Re).
Dr WM Vishaka Wanasinghe, chairman of National Insurance Trust Fund Sri Lanka, has been elected as the vice-chairperson.
The term of service for both the elected top members of the board is two years. Asian Re said in a statement that the election of the top two board members was held at a recent meeting of the Council of Members which is formed by representatives of regular members of the organisation.
Asian Re has 10 regular founding member states i.e. Thailand, Afghanistan, Bangladesh, Bhutan, China, India, Iran, Philippines, South Korea and Sri Lanka.
Asian Re is an intergovernmental organisation established in May 1979 under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP). In addition, Asian Re has 19 leading insurance and reinsurance companies from the Asia Pacific region as associate members. Asian Re accepts treaty and facultative business covering all traditional classes from insurers in Asia, the Middle East, and Africa.