Demonstrating its steadfast commitment to
transparency, accountability, and regulatory compliance, Pru Life UK received
the coveted Four Golden Arrow award from the Institute of Corporate Directors
(ICD) at the ASEAN Corporate Governance Scorecard (ACGS) Golden Arrow Awards
recognition ceremony held on 19 September in Pasay City. The leading life
insurer earned 119 points in the 2023 ACGS assessment, a marked improvement
from the company’s scores in previous years.
To encourage companies to exceed local
regulatory requirements and adopt higher standards of corporate governance, the
ACGS evaluates companies on key governance aspects, including shareholder
rights, fair treatment, stakeholder engagement, transparency, accountability,
and the effectiveness of the board, while benchmarking against international
best practices.
Accepting the award for the company is
Chief Legal, Government Relations, and Sustainability Officer, Atty. Paul
Mandal, who called the recognition “a proud moment” for Pru Life UK.
“[This recognition] reflects our unwavering
commitment to corporate governance,” Atty. Mandal explained. “As we continue to
align with regulatory standards, we are excited to lead the way in promoting
transparency and inclusivity in the Philippine insurance sector, ensuring we
deliver the best possible service to our customers,” he added.
Additionally, Pru Life UK strives to make
insurance more inclusive by constantly innovating and developing new products
to serve the financial protection needs of all Filipinos. A new area that the
company is currently exploring is Takaful or Islamic insurance, which is
aligned with the priorities of the Insurance Commission (IC) and the national
government. Pru Life UK targets to become the first insurer to launch Takaful
in the country, reinforcing its commitment to address the diverse needs of
Muslim and non-Muslim Filipinos alike.
Pru Life UK has been a consistent Golden
Arrow awardee for eight consecutive years. This achievement underscores the
company’s proactive response to evolving regulatory standards set by the IC.
As Pru Life UK celebrates this recognition,
the company reaffirms its pledge to uphold the highest standards of corporate
governance and regulatory compliance, ensuring it remains a trusted and responsible
partner for its policyholders, shareholders, and the communities it serves.
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