The Board of Directors of Malayan Insurance Co., Inc. (MICO) announces the appointment of Ms. Yvonne S. Yuchengco as its new Vice Chairperson. The Board has likewise appointed Mr. Paolo Y. Abaya as the new President and Chief Executive Officer, of Malayan Insurance. Both appointments were effective this July 1, 2019.
For nearly 25 years, Ms. Yvonne S. Yuchengco led the company forward as President and CEO, maintaining the position as the country’s number one ranked non-life insurer in terms of Gross Premiums Written consistently during her term.
Until his appointment, Mr. Paolo Y. Abaya was Chief Operating Officer of Malayan Insurance.
The transition to a younger leadership for Malayan Insurance marks a step toward the future as it approaches its 90th year as an industry leader. The move consolidates the company’s strategic efforts to serve the millennial and Gen Z markets, an emerging segment which thrives with a digital, always-connected lifestyle driving their consumer decisions.
MICO is the leading non-life insurance company in the Philippines, rated by AM Best, a global rating authority for the insurance industry. AM Best has affirmed the company’s rating with Financial Strength Rating: B++ (Good), and Insurer Credit Rating bbb+, providing the Philippine insuring public with world-class insurance protection and good customer service.
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