MANILA - The country's largest insurance firm, Philippine-American Life and General Insurance Co. (Philamlife), will see a changing of the guards by next month, after its chief executive retires.
 
The company, in a statement, said it has appointed veteran insurance executive Trevor Bull to replace retiring president and CEO Jose L. Cuisia.
 
Cuisia, a former central bank governor, was one of the longest-serving chief executives of Philamlife. After 16 years as president, he will stay on as vice-chairman of the company's board.
 
"I would like to extend my gratitude to Jose for building a robust business infrastructure that will enable a smooth integration of Philamlife into the AIA Group," American International Assurance Inc. (AIA) president and CEO Mark Wilson said.
 
Under Cuisia's stewardship, Philamlife realized its diversification into affiliate businesses such as mutual funds, bancassurance and property management. He also sealed Philamlife's leadership in the highly competitive local life insurance industry.
 
But Cuisia was perhaps most credited for containing with grace the effects brought about by the financial woes experienced by its parent firm, American International Group (AIG). Last year, AIG sought the US Federal government's help to stay afloat.
 
Trevor Bull
 
British Trevor Bull, on the other hand, is no stranger to insurance markets.
 
Bull carries with him three decades of experience in the life insurance business, having held senior management positions in India, Japan and Korea, as well as in Europe.
 
"Trevor's successful track record in the highly competitive life insurance markets of India and Korea makes him uniquely suitable for this leadership role. I have every confidence that he will lead the management team to further accelerate Philamlife's growth and strengthen its leadership in the Philippines," Wilson said.
 
Philamlife is the oldest and largest life insurance company in the country offering diversified financial services such as life insurance, pre-need plans, healthcare, bancassurance, asset management and property management and development.