Corporate Governance

BDO Life believes that the key to long-term sustainability and success largely depends on having a good name and solid reputation in the market place. Thus, the business and operations of the Company will be conducted in accordance with the principles and best practices of good corporate governance. 

BDO Life’s corporate governance practices are anchored on our core values which guide us in our decisions, interactions and relationships with our shareholders and other stakeholders.

BDO Life believes that the key to long-term sustainability and success largely depends on having a good name and solid reputation in the market place. Thus, the business and operations of the Company will be conducted in accordance with the principles and best practices of good corporate governance. 

BDO Life’s corporate governance practices are anchored on our core values which guide us in our decisions, interactions and relationships with our shareholders and other stakeholders.

Governance Structure

BDO Life Assurance Company, Inc. affirms its deep commitment to the highest standards of corporate governance practice firmly anchored on the principles of accountability, fairness, integrity, transparency, and performance consistently applied throughout the institution.

Responsibility for good governance lies with the Board. It is responsible for providing effective leadership and overall direction to foster the long-term sucess of the Company. 

Teresita T. Sy

Chairperson

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Nestor V. Tan

Vice Chairman

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Renato A. Vergel de Dios

President and Chief Executive Officer/Executive Director

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Herminia S. Jacinto

Lead Independent Director

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Lucy C. Dy

Non-Executive Director

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Ariel G. Cantos

Non-Executive Director

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Jaime C. Yu

Non-Executive Director

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The Board has established four committees. Their mandates and scopes of responsibility are set forth in their respective Terms of Reference, which are subjected to annual review and may be updated or changed in order to meet the Board’s needs or for regulatory compliance.

Chairperson:

  • Herminia S. Jacinto Lead Independent Director
   

Members:

  • Lucy C. Dy      Non-Executive Director
  • Ariel G. Cantos Independent Director
 
Functions:
 
  • Oversees the financial reporting process, system of internal control and risk management systems, internal and external audit functions, and compliance with governance policies, applicable laws and regulations.
  • Approves the annual audit plan and reviews audit results including the  Insurance Commission Report and other regulatory bodies focusing on significant findings with financial impact and its resolution.
  • Recommends the approval of the Compliance Charter and reviews the performance of the Chief Compliance Officer.

Terms of Reference can be viewed under Company Policies.

Chairperson:

  • Ariel G. Cantos Independent Director
   

Members:

  • Jaime C. Yu Non-Executive Director
  • Herminia S. Jacinto Lead Independent Director
 
 
Functions:
 
  • Oversees the implementation of the corporate governance framework and periodically reviews the said framework to ensure that it remains appropriate in light of material changes to the corporation's size, complexity and business strategy, as well as its business and regulatory environments; 
  • Oversees the periodic performance evaluation of the Board and its committees as well as executive management, and conducts an annual self-evaluation of its performance;
  • Ensures that the results of the Board evaluation are shared, discussed, and that concrete action plans are developed and implemented to address the identified areas for improvement;
  • Recommends continuing education/training programs for directors, assignment of tasks/projects to board committees, succession plan for the board members and senior officers, and remuneration packages for corporate and individual performance

Terms of Reference can be viewed under Company Policies.

Chairperson:

  • Herminia S. Jacinto Lead Independent Director
   

Members:

  • Lucy C. Dy Non-Executive Director
  • Ariel G. Cantos Independent Director
 
 
Functions:
 
  • Develops a formal enterprise risk management plan 
  • Oversees the implementation of the enterprise risk management plan through a Management Risk Oversight Committee.
  • Evaluates the risk management plan to ensure its continued relevance, comprehensiveness and effectiveness.
  • Advises the Board on its risk appetite levels and risk tolerance limits

Terms of Reference can be viewed under Company Policies.

Chairperson:

  • Ariel G. Cantos Independent Director
   

Members:

  • Lucy C. Dy Non-Executive Director
  • Herminia S. Jacinto Lead Independent Director
 
 
Functions:
 
  • Evaluates on an ongoing basis existing relations between and among businesses and counterparties.
  • Evaluates all material RPTs to ensure that these are not undertaken on more favorable economic terms.
  • Ensures that appropriate disclosure is made, and/or information is provided to regulating and supervising authorities relating to the Company’s RPT exposures, and policies on conflicts of interest or potential conflicts of interest.
  • Ensure that transactions with related parties, including write-off of exposures, are subject to periodic independent review or audit process.

Terms of Reference can be viewed under Company Policies.

Renato A. Vergel De Dios

President and Chief Executive Officer

Actuarial

Peter C. Darvin – Executive Vice President, Head of Actuarial and Product Management

Jason Joseph E. Mariano – First Vice President, Head of Actuarial

Finance

Maria Adoracion R. Go – Senior Vice President, Comptroller

Elizabeth E. Guevara – Senior Vice President, Head of Comptrollership

Legal & Compliance

Atty. Ace Devino A. Custodio – Vice President, Head of Legal & Compliance

Operations

Jose Maria F. Ignacio – Senior Vice President, Head of New Business Underwriting & Claims

Joel L. De Jesus – Vice President, Head of Customer Support Services – Individual Life

Shirley S. Lim – Vice President, Head of New Business Services

Operations Transformation

Samuel B. Reyes IV – Vice President, Head of Operations Transformation

Sales & Distribution

Mercy Santua-Maloles – Executive Vice President, Head of Bancassurance

Gerador Jr. G. Ramos – Vice President, Head of Bancassurance Support

Ma. Lourdes M. Samson – Vice President, Head of Alternative Marketing & Sales

Sales Training & Leadership Development

Patrick Gerard Joseph B. Lim – Vice President, Head of Sales Training and Leadership Development

BDO Life Assurance Company, Inc. is a life insurance company and wholly-owned subsidiary of BDO Unibank, Inc. It is supervised by the Insurance Commission. Its financial products are not deposit products. These products are not insured by the Philippine Deposit Insurance Corporation and are not guaranteed by BDO Unibank, Inc. For policy-related inquiries and concerns, please call our BDO Life Customer Care Hotline at (+632) 8885-4110 or 1800-1888-6603 (PLDT Toll-Free).